Total assessed property values up 56% from last year as borough corrects inequities
Actual tax bills will depend on budget decisions
March 8, 2023
A comprehensive review of assessments on every piece of property in the borough has resulted in total taxable values 56% higher than last year.
That doesn’t necessarily mean this year’s tax bills will increase. The actual tax rate multiplied against the assessed value will depend on what the assembly decides is needed for the borough budget this spring.
Assemblymember David Powell said Friday the assembly would do its best to maintain consistent tax bills for residents, covering the borough’s budgetary needs and no more. “We know that all the assessments went up,” he said. “Some...