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Cape May County tax board approves 2025 preliminary equalization table
Summary
The Cape May County Board of Taxation approved a preliminary equalization table Feb. 11 that lists an aggregate assessed value of $53.7 billion and an aggregate true value exceeding $97 billion; County Tax Administrator Lori L. Rosell will continue to process assessment overrides until the table’s final approval on March 11.
The Cape May County Board of Taxation approved a 2025 preliminary equalization table during its Feb. 11 meeting, listing an aggregate assessed value of $53.7 billion and an aggregate true value of more than $97 billion.
The preliminary table matters because it establishes the countywide ratios used to equalize municipal property tax assessments across Cape May County, affecting how local tax levies are apportioned among municipalities.
At the meeting held in the Old Court House in Cape May Court House, the board noted that 11 municipalities have ratios in the 50% range. The record says County Tax Administrator Lori L. Rosell will continue to process assessment overrides requested by municipal assessors until the board’s final equalization table approval scheduled for March 11, 2025.
Board members Elizabeth A. Barry (vice president), John A. McCann (president), John Snyder (commissioner) and Lu Ann Wowkanech (commissioner) participated telephonically and conducted routine business including opening the meeting and approving prior meeting minutes.
The board also approved the 2025 tax lists during the session. Each motion recorded in the minutes was noted as “carried”; the minutes do not record individual roll-call vote tallies.
The board’s actions set the preliminary baseline for municipal equalization ratios; any assessment overrides submitted and accepted before the March 11 final vote could alter the final ratios and the distribution of assessed values among municipalities.
The board’s meeting notice was posted Jan. 29, 2025, in local newspapers and county offices. The board’s next regular meeting is scheduled for March 11, 2025, when it will consider final approval of the equalization table.
