Rolling reval rolled back?
As Hoboken is about to reconsider the rolling reval issue, some budgetary impact surfaces which is problematic on the other side of the homeowner equation.
MSV hasn’t had sufficient time to look into this issue but the folks likely to see the biggest advantage as it turns out without a rolling reval could be commercial buildings. The double whammy may hit when they file annual tax appeals on undervalued properties.
As it’s understood at the moment, any successful tax appeal on the undervalued commercial property forces the City of Hoboken to pay the municipal tax portion but also the county and school portions of the tax bill.
If true, there will need to some analysis on what that could cost the City of Hoboken in the interim years period of no reval?
Yes, it’s complicated. Add that to the general sense of panic by many homeowners and you have quite the issue.
Since the Old Guard reads MSV religiously, you may hear this come up tonight in all so polite terms as a quite reasonable reason not to undo the rolling reval. They are craven, political creatures and will use any hook to undo the current working reform oriented council majority.*
Hey Mikie, you’re welcome.
The full council agenda this evening @ 7:00 is available here.
Talking Ed Note: The small business ordinance mandating paid sick leave is officially kaput. The sponsors, Councilwoman Terry Castellano and Beth Mason who never held any public outreach meetings with local businesses have officially thrown in the towel.
Beth Mason has voiced her support for the cost imposition on small business and is likely to continue to do so as she tries to obtain State Senator Brian Stack’s endorsement to take over the Assembly seat currently held by Carmelo Garcia.
Mister Carmelo is said to be none too happy about all this. He like most everyone never liked Beth Mason anyway. Da Horsey heard that from Mister Carmelo personally.