The Frog Hollow residents, who described their neighborhood as “a unique, stable place to live,” contend that there have been few home sales in their section of town, “making it almost impossible for us to appeal our assessments on an individual basis.”
According to a petition that has garnered about 85 signatures, there were two recent home sales. Twelve William St. sold on March 22, 2006, for $277,000. It was reassessed at $377,000. The property at 42 Central Ave. sold on Jan. 31, 2007, for $213,000. It was revaluated at $546,000.
Township Manager Joseph Hartnett indicated that his staff would re-examine Frog Hollow after Aug. 10, as the municipal “Tax Office is swamped” right now.
“Once we get through this period, we’ll meet, look at this and we’ll see,” Hartnett said, indicating that he would discuss this issue with the tax assessor.
The Township Manager’s Office reported that 5,191 residential properties decreased in assessments, while 4,382 increased in taxes. Of that amount, there were extreme cases. Three properties’ tax bills increased by $30,000, while one property’s tax bill decreased by $30,000. In comparison, 193 properties increased by $100 and 212 properties decreased by $100.
By ERICA ZARRA – The Montclair Times