Last Chance: Deadline for Scheduling Property Reassessment Conference

Correction: The Friday deadline is only for those who have already received their appraisal letter and wished to schedule a conference. Those who have not received their appraisal yet will be given a time to call to schedule a conference, if needed, when they receive their letter.

The deadline to schedule a property reassessment conference is quickly approaching.

Freehold Township residents have until 4 p.m. on Friday, Jan. 25 to schedule a time to discuss their property’s appraised value with the company that conducted the town-wide reappraisal this past fall.

In a letter sent to township property owners advising them of their reappraised property values, Realty Appraisal Company noted that the reassessment of all township property was conducted because the real estate market caused an imbalance between assessed value and the market value of properties.

Freehold Township was subject to numerous tax appeals following the 2008 reassessment, which took place as the housing market began to take a downturn. The Freehold Township Committee approved a new reassessment last year.

"With the recent four year decline in home prices, the 2008 revaluation, which was fair and accurate then, became ultimately skewed because all housing segments did not decline equally over that period," Committeeman Anthony Ammiano wrote in response to a Freehold Patch reader's question on the reappraisal in June.

Township Administrator Peter Valesi told the News Transcript that the municipality lost $174,439 to tax appeals in 2011.

Property owners interested in discussing the appraised value of their property in the new assessment must schedule a conference with a Realty Appraisal Company representative by calling 732-571-4941 between 9:30 a.m. and noon or between 1 p.m. and 4 p.m. on Friday.

Conferences will be held at the Freehold Township Municipal Building property owners are advised to bring their reappraisal letters with them.