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1. What does "Fair Market Value" mean?

Market value is the price which a property would bring after a reasonable exposure to the market, where both a knowledgeable buyer and knowledgeable seller are willing to buy and sell, and are not acting under compulsion or duress. In other words a seller who was not forced to sell or a buyer who was not forced to buy such as in the case of estate, divorce, or foreclosure sales.

2. If I do not agree with my property assessment, can I file an appeal?

Yes, appeals can be filed with the Middlesex County Board of Taxation and they must be received by April 1st of each Tax Year. If your property is valued $1,000,000 or more you can file directly with the Tax Court of New Jersey.

3. Can I review my property assessment and how it was arrived at?

Yes, you can schedule an appointment with the Tax Assessor who will review with you, your property record card and sales of similar properties.

4. Can my assessment change if I haven't done anything to my property?

General economic conditions and other factors such as interest rates, inflation, supply and demand will influence the value of real estate. When property values change, either upward or downward at the same rate throughout the Township, the assessments would not change. However if 1 neighborhood increases or decreases faster in value than the remainder of the Township then assessments in that area can be adjusted to bring them back in line with the majority of the Township.

5. What will happen to my assessment if I improve my property?

Generally speaking, improvements that increase the value of a property will increase the assessment; following are some items that may increase the assessment of your property:
- Additions, kitchens and bath renovations
- Finished Basements, Sunrooms
- Fireplaces, Patios, Decks, Pools