Property Re-Valuation – October 2018 Update

At our July meeting, Mayor Mancini said later this year, the Township (LBT) will be conducting a re-valuation of all real property in LBT.  Appraisal Systems of Morristown, NJ was awarded the contract.  While the timing has not been finalized, the study could begin around November of this year and is expected to take 9 months to complete.  The last LBT property re-valuation was completed in 1996.

As of two weeks ago, the Township was still working on updating the tax maps.  The tax maps must be updated and approved by the State of New Jersey prior to proceeding.  Long Beach Township has therefore applied for an extension of the deadline for completion of the re-assessment. The Township has proposed to start and finish the re-assessment in 2019 and any changes as a result of the re-assessment would be effective in the 2020 tax year.  Ocean County has approved extension request and it is under review by the State. However, it is not known when the State will take any action. Stay tuned.