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Appraiser Sean O'Sullivan outlines New Providence revaluation, inspections and appeal process
Summary
At a public meeting in New Providence, appraiser Sean O'Sullivan described the borough's planned full revaluation: how appraisers will use October-to-October sales to set 100% market-value assessments, why inspectors may need interior access, the informal review and the county appeal deadline of May 1, and a timetable targeting letters by November–December ahead of tax year 2027.
Sean O'Sullivan, the appraiser the borough hired to conduct a full property revaluation, explained to residents how the process will work and answered questions about inspections, comparables and appeals.
O'Sullivan said a revaluation “is a program undertaken by the municipality to appraise all property within the taxing district according to its full market value, meaning what it can sell for in today's market.” He told listeners the goal is to redistribute tax responsibility so property owners pay based on current market value rather than historic assessments.
The appraisal team will use a sampling period from October 1 to October 1 for comparable sales, O'Sullivan said. “Anything which has sold that would be comparable would be in that time range,” he said. Those sales will establish the market values used for the revaluation year; because the borough sets assessments to 100% of market value in a revaluation year, O'Sullivan said the usual 15% common-level protection that applies in ordinary appeal years does not apply during the…
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