Board of Taxation outlines revaluation schedule as property values climb in Essex County

Dean Broadman, a member of the Board of Taxation, told the Essex County Board of County Commissioners during a budget hearing that the board has ordered revaluations for three municipalities and described trends in appeals and property values.

"We just ordered 3 towns to reval, and going out to '27, '28, and '29... Millburn, North Caldwell, and Essex Fells," Broadman said, noting those join Irvington and West Orange in the current cycle.

Broadman said appeals are unusually low for January, with most municipalities filing on time except Irvington, Newark and West Orange, which sought short extensions. He explained that rising sale prices make appeals less attractive because reassessments often show higher values: "But basically, the prices have, depending on when they did their revaluation, prices are double, what the values were. So it's very hard to come in and appeal your assessment..."

The board discussed how PILOT (payment in lieu of taxes) agreements and abatements reduce the shared ratable base countywide and shift the burden among municipalities and school districts. Broadman also said Essex County's housing market remains active and described long-term cycles he has observed as a realtor.

Commissioners asked about the process towns follow after a revaluation order and appeal deadlines. Broadman laid out the typical options: talk with the revaluation company, come before the county board to appeal and, if unsatisfied, pursue relief in the tax court. He repeated that municipalities that delay revaluations can produce large, abrupt local tax changes when revaluations occur.

The presentation was informational; no formal county action or vote followed this report.

Ending: Commissioners thanked the Board of Taxation representative for the briefing and moved on to other departmental budget presentations.