Saturday, February 03, 2007

"Average increase in value for setting taxes was 209 percent"

LONG BRANCH — City property owners this week finished receiving their new assessments, all of which are increasing as a result of the city's "vibrant" real estate market, said an official who oversaw the municipal property review.

"Long Branch did very well in the last few years with the redevelopment," said Neil Rubenstein, manager of Realty Appraisal Co., which last year received a $300,000 contract to reassess city properties. "The real estate market is vibrant."

But maybe Long Branch did a little too well. Mayor Adam Schneider said he is in the process of researching what authority he has to revisit the company's findings, noting some assessments have tripled or quadrupled.

Although the average increase was 209 percent, many property owners in the Elberon section saw their assessments triple, said Schneider, who lives in that section.

Full article...


Anonymous Anonymous said...

Long Branch should sue for a refund. I mean come on, those outrageous assessments were obviously done while someone was huffing from the "boom" bag. $751K on that house pictured in the article? I'd be mighty pissed off too, it's just laughably out of touch with reality.

Saturday, February 03, 2007 6:29:00 PM  
Anonymous Anonymous said...

A friend of mine lives in Elberon and her house was just reassessed. I saw her tax bill and could not believe it, her assessed value went from $497k to $1.3MM. They hired an appraiser and are certainly going to contest that.......

Sunday, February 04, 2007 11:42:00 AM  
Anonymous Anonymous said...

An increase of 209% is "tripling".

Sunday, February 04, 2007 5:27:00 PM  
Anonymous Anonymous said...

Mayor's not too good at math I guess.

Monday, February 05, 2007 3:19:00 PM  
Anonymous Anonymous said...

Hey, I left beautiful Red Bank because of my tax bill. My wife and I had to make hard decisions 2 years ago as we were seeing the taxes were startig to go up rapidly. My realtor, Brenda M., told us at the time that her house on the Navasink had a revised tax bill of $48,000.00! Thankfully I have made a good decision and now have a very low mortgage, a great school for my child and a better view of the water on a way larger lot in another state. We have very strong family and friend family ties in Monmouth County and miss them gteatly but I think we were pushed out for a reason which I did not know at the time and am glad we made the choice. Still can't find a place to eat like What's your Beef for dinner or Tallerico's for lunch though.

Sunday, February 11, 2007 12:13:00 PM  

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