The Alternative Press

 

PATERSON, NJ – Municipal officials are moving ahead on a citywide property revaluation, an expensive and exhaustive process through which the assessments on all Paterson properties would be revised to reflect market values.

The last time Paterson conducted a revaluation was about five years ago, just before the region’s real estate market tanked. As a result, most city property owners quickly ended up with assessments that exceeded the real value of their homes and businesses. Thousands successfully had their values reduced through tax appeals.

The city council on February 14 approved a resolution to seek proposals from companies that conduct revaluations. Paterson spent about $2.3 million on its previous revaluation, official said.

The goal, officials said, is to have the new values in place by 2014. “The assessed values we have right now are totally off,’’ said Councilman William McKoy.

City Council Finance Chairman Kenneth Morris said the city needed to avoid the problems that arose in the last property survey.  “This time around, we would like to get it right,’’ he said.

First of all, he said, the city ought to require the vendor to look for illegal apartments so that their value would be included in the tax rolls.

Secondly, Morris said, Paterson should require the vendor to conduct on-site surveys of at least 95 percent of city properties so the new values are as accurate as possible. In the past, Morris said, vendors were allowed to give up on a property if surveyors did not find someone at home after three visits.

Thirdly, Morris said Paterson needs to upgrade the computer software used for its property records.

In fact, the city council is scheduled to hear a presentation on Feb. 21 from the tax assessor in Jefferson Township in Morris County about the electronic system used there. Council members Andre Sayegh and Julio Tavarez already have met with the Jefferson assessor and say the software will help Paterson keep more updated records.