Freehold Township: What's a Revaluation?
Here's a handy primer explaining the process that tries to more fairly distribute the tax burden in a municipality.
In an attempt to fix the imbalance between the assessed value and the market value of properties, Freehold Township had Realty Appraisal Company conduct a property reassessment for all township properties.
Under the township-wide revaluation, homes and businesses were inspected for their comparable assessed worth in an effort to more fairly distribute the tax burden. Local government and school tax levies are comprised of tax points, which are literally every cent a resident pays in property taxes per $100 in assessed value.
While some residents may see their assessments and consequently their tax bills increase under a township-wide revaluation, the process is intended to correct inequities in the tax base that may develop over time.
Residents who have received their appraisal letter and are interested in discussing their property’s appraised value, are encouraged to set up a conference with a Realty Appraisal Company representative by calling 732-571-4941.
Check out the attached "What Is Revaluation?" guide that details the appraisal process as well as how to file an appeal.