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Council approves $6 million for citywide property revaluation after residents ask how costs will be covered
Summary
The Newark Municipal Council approved a $6 million emergency appropriation to complete a citywide property revaluation, prompting residents to question cost, timeline and whether reassessment would raise taxes for longtime homeowners. City officials said the work is statutorily required and will be completed over about two years.
The Newark Municipal Council voted to approve a $6 million special emergency appropriation on Feb. 19 to fund a citywide property revaluation, responding to resident questions about the cost and whether higher assessed values could raise property taxes.
Why it matters: Revaluations reassign assessed values across tens of thousands of property records and can change individual tax bills even if the city's total levy is unchanged. Residents at the council meeting asked whether the effort would increase taxes for longtime homeowners and demanded an itemized explanation for the $6 million cost.
What the administration said: Eric Pennington, the city's business administrator, explained that New Jersey statute prescribes periodic…
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