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Highlands assessor explains 2025 reassessment, why some values rose sharply and how it may affect taxes
Summary
Borough assessor Greg Hutchinson told residents the 2025 reassessment reflects market value and a boroughwide rateable-base increase of about 23.4%; increases above that average are more likely to lead to higher taxes but the final tax impact depends on budgets and the tax rate set later in spring.
Greg Hutchinson, the borough assessor for Highlands, laid out the reasoning behind this year’s reassessment and why some homeowners saw unusually large percentage increases in their 2025 assessments.
Hutchinson said at a public town‑hall that assessments are tied to market value, not to tax bills, and that the postcards residents received are notices of assessed market value rather than tax bills. "Market value is all that matters," he said, adding that the state constitution requires assessments to reflect market value. He also emphasized that he does not set tax rates or municipal, county or school budgets, which together determine a homeowner’s final tax bill.
Why some assessments jumped: Hutchinson said the borough's total rateable base…
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