Newark Property Owners Can Appeal New Tax Valuations

The Ironbound Business Improvement District (IBID) is advising property owners of their rights to appeal new property tax valuations issued this month as part of the city’s once-a decade revaluation process.

Small businesses in the Ironbound have seen their property valuations rise by as much as 100 percent or more after Appraisal Systems Inc.,  a company hired by the city government, inspected properties throughout Newark early this year. 

The appraisals are part of the revaluation process, which occurs about once a decade and is meant to update the values of homes and businesses on the city’s tax rolls. Generally, some property owners will see their valuations rise while others will fall. Newark’s last revaluation was in 2003.

During this revaluation, commercial properties have seen much of the increase as the value of homes stayed flat or fell. Both IBID members and the president of Appraisal Systems said the bulk of the increases appear to have been borne by Ironbound business owners. 

"In the entire city, which consists of about 40,000 properties, the only real issue that has come to our attention has been the commercial property owners in the Ironbound area," company president Rick DelGuercio told Nj.com.

In response to concerns raised about the methodology employed by Appraisal Systems by the owners of commercial property -- hundreds of whom met last week to discuss the issue -- the IBID requested that company employees remain in Newark for an additional two weeks to review dipusted valuations.

“As representatives of the local business community, we want to make sure that everyone has the information they need to participate in a second interview with Appraisal Systems, Inc. representatives so they can avail themselves of the extended appeals process,” said Steven T. Yglesias, President of the Ironbound Business Improvement District (IBID) and a local business and commercial property owner.

East Ward Councilman Augusto Amador and IBID representatives are advising owners who have questions about their valuation to call Appraisal Systems at 201-493-8530  to schedule a second interview.  Those interviews must be scheduled by April 15.

Newark property owners who schedule a second interview with Appraisal Systems, Inc. and remain dissatisfied with the new property valuation provided will still have the opportunity to bring their appeal to the Essex County Tax Board by calling 973-395-8525. That appeal must be filed no later than May 1.