Township Tax Assessor Announces County-Ordered Townwide Property Revaluation

February 1, 2024
township-tax-assessor-announces-county-ordered-townwide-property-revaluation

On December 21, 2023, the Morris Country Board of Taxation issued an order to the Township of Chatham to begin a revaluation of all property in the municipality. This process will take several years to complete and has been given a completion deadline of September 30, 2026, with the changes found in the revaluation to take effect in the 2027 tax year.

At the February 13, 2024, Township Committee Workshop Meeting, Township Tax Assessor Glen Sherman offered additional details on the process and presented a preliminary timetable for the completion of this process. A recording of the presentation by the Tax Assessor can be viewed at the bottom of this page or directly on the Township Youtube Channel here.

Please note: The timeline below is tentative and subject to change. 

  1. Tax map update/approval from the Division of Taxation
    • Current tax maps were last updated in 2015 and are required by the NJ Division of Taxation to be updated prior to the revaluation program. The tax maps must be approved before the Division of Taxation will approve the revaluation contract in order to begin the program.
    • It should be the goal of the Township to have the tax maps revised and approved by the Division of Taxation no later than the end of 2024.
  2. Revaluation specifications prepared
    • The NJ Division of Taxation has standard specifications for revaluation. The specifications should be customized to fit the requirements of the Township.
    • The revaluation specifications should be finalized be the end of 2024.
  3. Request for proposals
    • Request for proposals, based on the Township revaluation specifications, should be advertised in early 2025.
  4. Awarding of the revaluation contract
    • The revaluation contract should be awarded by the midpoint of 2025.
    • The signed revaluation contract must be approved by the Director of the Division of Taxation prior to the start of the program.
  5. Mod IV database obtained/Computerization/ Office set up/ Printing of relevant materials
    • These processes should be completed following the award of the revaluation contract.
  6. Public Relations
    • A public presentation should be held by the revaluation firm outlining the revaluation process prior to the start of field work.
    • Additional PR steps should be taken to ensure the public remains in the loop, including:
      • Mailings
      • Press releases
      • Maintaining a website with updates on the program
  7. Initial Mailings notifying taxpayers of the revaluation inspection process
    • The initial mailings shall include an introductory letter and a brochure that explains the revaluation process, methodology employed, and frequently asked questions.
    • This initial mailing should be distributed at least 2 weeks prior to the start of field work/data collection.
  8. Data Collection/Field work
    • All properties within the Township boundaries will be physically inspected. The inspection will be an exterior and interior inspection to ensure an accurate description of all structures.
    • The Projected timeframe for these inspections is currently from January to September of 2026.
  9. Income & expense forms mailed to commercial properties
    • Commerical forms should be mailed by April 1, 2026.
  10. Neighborhood Delineation/ Sales analysis/ Valuation
    • Ongoing throughout the project.
  11. Preliminary Values established
    • All properties will be valued as of the statutory valuation date of October 1, 2026 for use in the 2027 tax year.
    • Preliminary values to be established by November 1, 2026.
  12. Value notification letters mailed:
    • The letter will include the proposed 2027 assessed value, along with instructions on how to schedule an appointment with the revaluation firm if the property owner has questions or concerns regarding the assessment of their property.
    • Notification letters to be mailed after November 10, 2026 as per NJ Division of Taxation specifications.
  13. Informal reviews with taxpayers
    • Individual informal meetings will be available for property owners who have questions or concerns about the preliminary assessment of their property.  All property owners who attend a meeting will receive a follow up letter with the results of the review.
    • These meeting are to be conducted in November and December of 2026.
  14. Final values established
    • December 31, 2026.
  15. Final tax list submitted to the Morris County Board of Taxation
    • January 10, 2027.
  16. Final Delivery on completion of the revaluation project
    • All documentation used during the revaluation will be delivered to the assessor.
    • January 2027.
  17. Tax appeal filing deadline following the revaluation implementation
    • Property owners who wish to challenge the final 2027 assessed value can file an appeal with the Morris County Board of Taxation (or the State tax Court of NJ for properties assessed over $1mil) on or before May 1, 2027.
  18. County Tax Board hearings
    • The revaluation firm will assist the tax assessor in the defense of appeals for the 2027 and 2028 tax years.  Tax Board hearings are typically scheduled in May and June.
  19. State Tax Court appeals
    • To be handled by the Township real estate appraisal expert unless otherwise specified in the revaluation contract.

Video Recording of Tax Assessor Glen Sherman’s Presentation to The Township Committee:

We are thrilled to announce the launch of our new website for the Township of Chatham in New Jersey! As we continue to build and enhance this online space, you may notice that some links and files are currently missing. We are working tirelessly behind the scenes to ensure that all information and resources are made available to you as soon as possible.

 

NOTICE:  The Chatham Township Municipal Building will close early, at 1:30 p.m. on Fridays beginning May 24th through August 30th.

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