Home Medford News The Township of Medford to commence an assessment maintenance program

The Township of Medford to commence an assessment maintenance program

Other communities around the state have implemented similar programs and have documented positive results.

In the coming weeks, the Township of Medford’s Assessor’s office will begin the data collection phase of an assessment maintenance program. All properties in the community will be visited by the Assessor’s office during this phase. After data is collected and updated, the Assessor’s office will have the option to adjust assessed values annually reflecting current market conditions. Global assessment adjustments will not occur until a state mandated requisite number of property visits are completed. Notice will be provided ahead of any global assessment changes. It is estimated to take approximately 2 to 3 years for this first phase to be completed.

Monmouth County, Somerset County and other communities around the state have implemented similar programs and have documented positive results regarding uniformity of assessments and fiscal responsibility/stability. (Please see the Medford Township website at www.medfordtownship.com/AMP for copies of Moody’s December 2017 report, The Somerset County Experience and Monmouth County 2017 update).

The purpose/ benefits of the program are as follows:

• Maintain assessments to reflect current market conditions.

• Minimize the fractionalization of assessments that occur from successful appeals and the rate of change in up or down-market conditions among our varied residential and commercial neighborhoods.

• Avoid costly revaluations which generally occur in 10 year cycles.

• Property visits and valuation will be conducted by the Township’s Assessor’s office.

• Properties will be visited once every 5 years to maintain current data on file which maintains uniformity and equanimity.

•Maintaining accurate assessments will ensure the annual target of uniform and accurate levy distribution. In essence, property owners will pay an equitable proportionate share of taxes.

•Stabilizes tax rates.

• Allows for the mitigation of the exposure for filed cases at the State Tax Court.

Note, not all values need to change annually, the system enables the Assessor to recognize and respond to changes in the marketplace.

The first phase of the program includes a visit to each property in the community. Information regarding property visits are as follows:

• The Assessor’s office staff wear identification badges.

• Areas where staff are working will be posted on the Medford Township website, www.medfordtownship.com (go to the Assessor’s page).

• The Medford Township Police will be notified as to the neighborhoods staff are working.

• Office staff will not enter a property without an adult present.

• During the initial visit staff will attempt to confirm measurements and take photographs of the exterior. If you are not home, a notice will be left to contact the Assessor’s office to arrange for a mutually convenient time to view the interior. The visit in total will take 10 to 15 minutes to confirm details of the property on record.

• Typical interior data collected will be confirmation of living space, conditions of kitchens/baths and other finished areas (basements/porches/garages). Any deficiencies on record will be corrected to ensure accuracy and uniformity of assessments.

• After an initial visit, properties will be visited once every 5 years.

Please visit the Township website (www.medfordtownship.com/AMP) for updates and more detailed information.

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