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By Michael Symons February 19, 2017 7:00 PM
Property tax appeals in New Jersey fell for the fourth straight year in 2016 to their lowest level since 2008, an indication people were less stressed about the value of their homes and, by extension, the condition of the overall economy.
However, the number of appeals, 49,286, remained higher than it had been in any of the dozen years leading up to the financial crisis of 2008.
“Better” doesn’t mean fully recovered.
“It’s a combination of the market value of properties appreciating over the last few years, since the downturn in the market, and also you’ve seen more reassessments or revaluations completed in municipalities, bringing the values back to market,” said Martin Lynch, president of the Association of Municipal Assessors of New Jersey
Read More: NJ property tax appeals down more than half in 3 years | https://nj1015.com/nj-property-tax-appeals-down-more-than-half-in-3-years/?trackback=tsmclip