Reassessment Results Show Drastic Drop in Moorestown Ratables
Based on the results of Appraisal Systems Inc.'s reassessment, the value of Moorestown property has dropped considerably since the market tanked five years ago.
The results of the township's latest reassessment show Moorestown's ratable base has dropped by more than $800,000,000 during the last five years. Appraisal Systems Inc. (ASI) completed the reassessment at the end of 2012 and recently posted the initial results, which show the township's ratable base presently stands at approximately $3.9 billion. (Click on the attached PDF to see the numbers in more detail.) That's a drop of $827,000,000—or 17 percent—from 2008, when Moorestown last had a revaluation (which was also performed by ASI). The total assessed value of the township at the time of revaluation—just prior to the burst of the housing bubble—was $4.746 billion, according to township financial officer Tom Merchel. That number …
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Yah Mo B There
9:18 am on Monday, January 28, 2013
Thanks. I'm sure to the subjective nature of this it could create discrepancies though. Maybe in the 5% range which while small can be tens of thousands with an average assessment close to 500k. more ›