Tax Assessor

Reassessment Program:

REVALUATION REVIEWS
The reassessment informal hearings ended January 26th. However, residents that still have questions regarding their assessment are encouraged to contact the Tax Assessor starting February 4th. Residents may appeal their taxes to the County Board of Taxation (we should then put a link to the section of our assessment page that explains the procedure) by April 1st.

REVALUATION SNAPSHOT
The purpose of a revaluation is to ensure that all properties are at their approximate market values at the same point in time and that they are fairly taxed, relative to each other.

PROPERTY VALUES: The total value of all taxable property in Haddonfield increased by 111%, from $1,050,412,743 to $2,212,678,442 (a number that is likely to change slightly). The value of vacant land increased by 272% (because of its scarcity), residential property by 120%, and commercial property by 114%. Prior to the reassessment, the average value of taxable property was $225,078. Now the average value is $494,939.

PROPERTY TAXES: The total raised for School, County, Borough, and Open Space purposes will remain the same after the revaluation as before - about $51,386,000. Because the total value of property went up, the tax rate must go down in order for the process to be “revenue neutral.” Since the total assessed value is twice what it was, the tax rate is half what it was: $2.322 per $100 of assessed valuation instead of $4.892. Taxes for a property assessed at the new Borough average will be $11,492. (Calculation: $494,939 x .02322 = $11,492). Based on the new valuations, property taxes for 54% of proper-ties will increase while taxes on 46% will stay about the same or decrease.

NOTE, HOWEVER, that the amount to be raised - and therefore the tax rate and taxes - will change with the 2008 Borough Budgets

General Information & Assessor’s Office Contact Information

It has been almost twelve years since a reassessment was completed in the Borough of Haddonfield. New Jersey real estate taxation law mandates that all real estate be assessed at 100% of market value and there must be equalization among assessments.

Annually, the State of New Jersey, Division of Taxation, and the Camden County Board of Taxation complete a study of all the sales that have transacted in each community, including Haddonfield, and determine the relationship of assessed value to sale value for each usable sale.

It has been determined by the above mentioned agencies that the properties located within Haddonfield are currently assessed far below market value. The Camden County Board of Taxation has ordered a reassessment of the Borough to be completed and implemented by the 2008 tax year.

Some of the major forces responsible for causing inequity in assessments are inflation and neighborhood trends. As a consequence, all properties have not increased in value at the same rate since the last revaluation; hence, imbalances have been created.

Please refer to the links below for added information.

If you have additional questions please do not hesitate to contact the Assessor’s Office at 856-429-4700, ext 226/227 or via the email link below.

Sample Letter to Residents – Explaining Your New Tax Assessment (PDF 16K)
November 16, 2007--Reassessment Update from Commissioner Neal Rochford (PDF 20K)
Letter to Residents (PDF 80K)
Q&A Informational Pamphlet (PDF 116K)
General Information Regarding Tax Assessment (PDF 80K)
Guide to Tax Appeals (PDF 108K)
Categories of Non-Useable Deed Transactions (PDF 76K)
Financial Analysis of Contracting vs. In-House Revaluation (PDF 12K)
Press Release Concerning Funding for Revaluation Process
E-mail the Tax Assessor