The meeting began with a presentation by Municipal Tax Assessor Mark Fitzpatrick and Monmouth County Tax Assessor Matt Clark on the Assessment Demonstration Program (ADP). Clark emphasized the importance of understanding the principles of property taxation and the need for accurate assessments. “If you’re worth 5% of the town, you pay 5% of the bill,” he explained, highlighting the necessity of tracking changes in property values over time to ensure fair taxation.

Clark detailed the traditional reassessment process, noting that static assessments can lead to discrepancies between assessed values and actual market values. He explained that this could result in some neighborhoods being over- or under-assessed, leading to inequities within the town. The discussion also touched on the impact of fixed costs and state aid reductions on tax bills, which complicate understanding why individual bills may increase.

A point of debate arose regarding the fairness of the ADP’s implementation across different towns. Clark acknowledged the disparity in assessment practices, questioning why some towns utilize the ADP while others do not. “It almost doesn’t seem fair that Town A is using it while Town B is not,” he stated, stressing the obligation of all towns to maintain their assessments. He expressed frustration over political resistance to annual reassessments, which are mandated by law but often not met.

The conversation then shifted to the state’s role in enforcing compliance with assessment laws. It was mentioned that the board had issued revaluation orders to several towns, but these were awaiting action. The reluctance to conduct annual reassessments was attributed to political pressures, with Clark advocating for a system that aligns assessed values more closely with current market values through the use of technology.

Further clarification was provided regarding the assessment process itself, particularly the differences between annual reassessments and traditional revaluations. While only 20% of the town is inspected each year, 100% of properties are assessed to ensure data is continuously updated. “The accuracy of the data is the Achilles heel of the assessor,” Clark noted, emphasizing the importance of reducing errors through accurate data collection.

The discussion also delved into the fairness of land assessments, with residents raising concerns about inconsistencies. One resident pointed out that land values along North Boulevard varied significantly, questioning the methodology used by assessors. The resident suggested that a more consistent approach to inspections and assessments would be fairer, especially for properties that have not been reassessed recently.

Another resident shared their frustration over the lack of transparency regarding tax bills and the need for better communication to prevent surprises related to tax increases. They suggested prior notifications regarding changes in assessments would help residents prepare for potential increases.

During the public comment portion, a participant noted that no one had claimed any residential properties in town were under-assessed, emphasizing the need for accuracy in property assessments. They referenced their search for comparative market data to form a more comprehensive view of property values. Another speaker raised concerns about the potential impact of assessment changes on residents’ lives, particularly those who might struggle to pay increased taxes.

An official responded by clarifying that adherence to the law is paramount in the assessment process. They acknowledged the real effects of year-over-year tax increases and highlighted safety net programs like the senior tax freeze. However, implementing such measures would require legislative action and could shift the tax burden to other residents.

The meeting also addressed the differences in assessment processes between residential and commercial properties. It was stated that income-producing properties involve more analysis due to their unique valuation metrics. The assessment of businesses should reflect their market value and be updated annually to ensure fairness.

The council members expressed a desire for greater equity and transparency in the property tax assessment system, revealing differing opinions on the responsibilities and outcomes of local taxation practices.