State of NJ Reval takes its grip on Hoboken
Hoboken’s 2013 property revaluation has been completed and letters are going out to property owners. If you’ve received your letter with your new property valuation, you can use this worksheet from Appraisal Systems, Inc to calculate the tax implications of your new property assessment. Enter your current and new assessments in the orange boxes and see what your new tax amount will be in the yellow boxes, assuming there is no change in spending by the city, school, and county.
Again, to obtain your estimated tax data in 2014, just enter box A (old assessment) and box B (new assessment) and hit return. The 2014 estimated data will calculate automatically.
July 1st the new assessment will be noticed with new rates for 2014. If there’s an increase, that will be when it first shows up in your quarterly bill.
Talking Ed Note: Da Horsey, SmartyJones