FAIRFIELD, NJ — Township Administrator Joseph Catenaro announced at the Fairfield Township mayor and council meeting on Monday that he received written correspondence from Essex County declaring that the state is mandating that Fairfield go through a revaluation process for tax assessments to begin in 2018 and finalized for 2019.
Catenaro said that the township does not want to do the revaluation and was thinking of challenging the order, but that because of the way township property values have risen over the last few years, there is no way around it.
The administration indicated that although the ratio was 89.1 percent—or no more than a 15-percent increase, which is one factor triggering a revaluation—there were components within the analysis that supported the Board of Taxation’s mandate to do a revaluation.
“A wide range of values, ranging from 73-to-124 percent of sales to assessed values, was a key indicator that a revaluation is justified,” said Catenaro. “The purpose of a revaluation is never to bring in more revenue to the township but to fairly distribute how much each individual should pay in taxes.”
The revaluation process will begin in the spring of 2018 and conclude Oct. 2018 to ensure a Jan. 1, 2019 implementation.