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Hampton approves one-year reassessment then four-year rolling reassessment at estimated $465,000
Summary
The Committee approved a one-year township reassessment followed by a four-year rolling program (reassessing ~25% of properties annually) at an estimated cost of $465,000, citing assessor recommendations and emergency-purchase treatment.
The Hampton Township Committee voted to proceed with a one-year reassessment followed by a four-year rolling reassessment program on June 29. Town staff and both the former and current tax assessors recommended this option as most beneficial to the township.
Cost estimates were discussed: $465,000 for the one-year plus four-year program versus $345,000 for a one-time reassessment. Committee members noted the purchase qualifies as an emergency purchase and will not affect the township's budget cap. Under the approved plan, roughly 25% of properties will be reassessed each year under the four-year rolling schedule.
