Middletown Township is one of several municipalities that have been ordered by the Monmouth County Board of Taxation to conduct a complete revaluation of all properties. The revaluation, which is designed to provide uniformity and equality in the distribution of the local tax levy, is scheduled to begin in the next few months.
The revaluation is required to reflect the changes in the market which have occurred since the township's last revaluation in 1991. Other municipalities currently undergoing revaluation include Asbury Park, Freehold Township, Holmdel, Keansburg, Long Branch, Red Bank, and Tinton Falls. State law requires that all real estate be assessed at current market value.
The township has engaged the firm of Realty Appraisal Company to assist with the revaluation of more than 25,000 residential, commercial, and industrial properties. Realty Appraisal Company is a firm highly skilled in mass appraisal techniques, with over 50 years of experience.
In order to conduct the program, it will be necessary for the firms' personnel to make complete interior and exterior inspection of each property. Photographs of every structure in the township will be taken. In the case of income-producing real property, it will be necessary for the firm to gather data regarding income and expense, as well as other pertinent information.
Prior to the results of the revaluation being accepted by the township, each and every property owner will receive a notice of value determined by the firm for their property. The firm will then conduct complete and informal reviews of the values with any taxpayer desiring a hearing. The new values are scheduled to go into effect in 2008.
For your protection, each authorized property representative of Realty Appraisal Company has been provided with a letter of identification and a photo ID. The appraisal company cautions all property owners to be sure to ask for both forms of identification. Property owners should not permit anyone who is not able to properly identity himself or herself to enter the premises.
At any time during the revaluation, please feel free to contact the Tax Assessor's Office at (732) 615-2089 with any questions or concerns you may have.
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