Deadline for Reassessment Reviews Extended

Have questions about your new assessment? You're not alone, according to the township assessor. And now you have a few extra days to get answers.

Roughly 3.5 percent of the property owners in town have scheduled formal reviews with Appraisal Systems, Inc. (ASI) following reassessment, according to township assessor Dennis DeKlerk. ASI completed the reassessment at the end of 2012 and has been meeting with property owners the last couple weeks. As of late last week, approximately 260 property owners—out of 7,300 properties in town—had requested to meet with ASI, DeKlerk said. Considering there are more than 7,000 properties in town, he didn't consider that to be a high number. ASI extended the review period from the original deadline, which was this Thursday. Property owners now have until next Tuesday, Feb. 12, to discuss their new values with the firm. Though there has been some …

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Rick Rohrbach

2:42 pm on Friday, February 8, 2013

Edmond - I looked at the last 184 homes sold ($300k and up) from 9/2011 to 12/2012 (most recent data avail on Zillow). I found the following: 80% (147 of the 180 homes) had ASI assessments lower than the sale price. 33% of the homes had ASI assessments at least 10% lower than actual sale price 16% of the homes had ASI assessments at least 15% lower than actual sale price and 7% of the homes had …   more ›

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 ›

Sandy Disrupts Moorestown Reassessment

The township has provided an updated timeline for the reassessment process as a result of Hurricane Sandy.

Among the many things disrupted by Hurricane Sandy was the township reassessment being performed by Appraisal Systems, Inc.  As a result of the delay, the inspection process will proceed through December, according to a release from the township. An updated timeline for when new assessments will be mailed to property owners, and other information, is provided below: The township wished to thank all residents for their patience and cooperation during this stage of the reassessment. Anyone with questions or comments should contact Appraisal Systems, Inc. at 201-493-8530, www.asinj.com or the assessor's office at 856-914-3011 or ddeklerk@moorestown.nj.us, or township manager Scott Carew at 856-235-0912, or scarew@moorestown.nj.us. Information…

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Letters to the Editor

Letter: Moorestown Mayor on 'State of Our Community'

Mayor John Button weighs in on a plethora of township issues, ranging from incoming ratables and reassessment to Open Space and the upcoming election.

To the editor: As we enter October, with less than a month until the upcoming election, I wanted to share another township update that, hopefully, will be helpful in understanding what lies ahead for council in 2013 and beyond. In essence, here is a consolidated view of the “state of our community” at this time: Savings, Ratables, Revenue First and foremost, let’s look at our financial health and the tax outlook going forward. It should be noted that Moorestown’s tax rate is low relative to comparable towns in New Jersey. Over the last four years, Greg Gallo, Michael Testa and I have worked hard—with our council colleagues—to instill spending discipline in our town, reducing expenses, with minimal impact on services and, thus, minimizing …

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MtownLifer

11:09 pm on Monday, October 15, 2012

C) is incorrect. First, the 'party' had no influence on J & C.s vote, and second J & C voted for turf bonding to prevent the raiding of the OS Fund (only needed 3 votes), something you should be thankful for, and not judgmental of.   more ›

Town Will Save $500K a Year After Reassessment, Officials Say

Appraisal Systems Inc. is in the midst of performing a county-mandated reassessment of Moorestown.

“Turbulent.” That’s the word Jason Cohen, vice president of Appraisal Systems Inc. (ASI), used to describe Moorestown’s ratables. How turbulent? Since 2008, Moorestown’s ratable base (right around $4.6 billion today) has dropped roughly $50 million every year, according to financial officer Tom Merchel. And during same period, the township has lost approximately $800,000 each year to tax appeals—approximately $3 million total over the last four years. To staunch the bleeding from appeals, the township is in the midst of a reassessment, carried out by ASI. Once it's completed and the new property values take effect in 2013, Merchel said the township should be able to save more than $500,000 a year, mostly from not having to defend or lose …

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Tom Lynch

2:24 pm on Monday, October 8, 2012

Our Town, I would like to understand how a revaluation provides for the town to cash in. Please explain   more ›

Reassessment Meeting Moved

The second public forum on reassessment has been rescheduled. The first is still scheduled for this Thursday.

The public forum on reassessment originally scheduled for 7-9 p.m. Oct. 4 at the Lenola Fire Hall has been moved to Oct. 18. The meeting will be held at the same time and same location and is open to all residents. A public meeting will also be held from 7-9 p.m. Thursday, Sept. 27, at the Upper Elementary School.  Representatives from Appraisal Systems Inc. will discuss the reassessment program and answer questions from the public at both meetings.  Field workers have begun inspections already, with all residential inspections expected to be finished by the end of November. Commercial and industrial inspections should be complete by the end of October.

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Reassessment Forums Scheduled

An open house is set for next week at the Upper Elementary School, with another scheduled for the first week in October at Lenola Fire Hall.

The township will sponsor two forums on the reassessment program, with the first scheduled for 7-9 p.m. next Thursday, Sept. 27, at the Upper Elementary School. The second will be held Thursday, Oct. 4, at the Lenola Fire Hall, also from 7-9 p.m. Representatives from Appraisal Systems Inc. will discuss the reassessment program and answer questions from the public. Both evenings are open to all residents. Field workers have begun inspections already, with all residential inspections expected to be finished by the end of November. Commercial and industrial inspections should be complete by the end of October. 

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What You Missed From This Week's Council/BOE Meetings

Moorestown council got a lot done this week, including approval of two park projects (without using any Open Space money), and provided an update on reassessment.

For those who couldn’t make it to Monday night’s particularly eventful township council meeting, there were a few interesting items that didn’t make it into a full story, but were nonetheless noteworthy. Here are a few leftover tidbits from the meeting: Township council will hold its next regular meeting at 7:30 p.m. Monday, Sept. 24, in the IT room at Moorestown High School. ____________________ In addition to selecting a new board member and hiring a new principal, the Moorestown Board of Education this week also adopted (on first reading) a new policy allowing students to use their personal technology—smartphones, iPads, etc.—in the classroom. "The basic idea is, this is how our students are learning these days—why not take advantage of…

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Letters to the Editor

Mayor: Moorestown in an 'Exciting Place and Time'

Moorestown Mayor John Button provides another "state of the township," covering all the reasons the township is positioned well for the future.

To the editor: As the dog days of summer slowly begin to ebb, I want to provide the next of my periodic updates on the state of things in our great township. We’re in an exciting place and time, so it’s nice to be able to share some good news. Moorestown is uniquely postured for the future. Even during these difficult times, we have tremendous economic development underway that will increase our ratable base, provide many new jobs and increase our standard of living. I am also proud of our strong fiscal health. We are spending less to run our township than we did in 2008 and our debt is lower than it was then as well. Our declining debt service requirement leaves us well-positioned to address the major capital projects under consideration…

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UPDATE: Reassessment Bidder Withdrawing Bid Over 'Political Cheap Shots'

Appraisal Systems Inc. sent a letter this week formally notifying Moorestown Township it was withdrawing its bid for reassessment.

UPDATE: Deputy Mayor Greg Gallo took exception with ASI CEO Ernie Del Guercio's comment that council had taken "political cheap shots" at the firm. "The facts are that there were many inequities in appraisals of like properties even before the recession hit. ASI did present to council a few years ago and we wanted them to meet with us again before we would consider awarding the bid," Gallo wrote in an email to Patch. "If they were not willing to defend or represent themselves to us, the representatives of the taxpayers of the town, then perhaps the best decision was made." _______________________ Appraisal Systems Inc. (ASI) has sent a letter formally notifying the township it is withdrawing its bid for reassessment over concerns of a …

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