So, getting serious for a second, here's an update for all Montclair property owners. The company that conducted the reassessment is starting to post data to their web site. One of the more intriguing pieces of information is a list of real estate sales from 2011 (which seems a little incomplete, but perhaps short sales didn't make the list?) with actual sale prices and assessments as of 2011. The new reassessments mailed in the past few weeks aren't certified yet, so that information is not public knowledge -- but it should be as soon any informal hearings requested by homeowners are completed and the town certifies the 2012 assessments. Suffice it to say, assessments are coming down, but the tax rate will have to go up. The goal? Put a lid on all the tax appeals, which were costing the town a fortune and making it very difficult to figure out a yearly budget, as the last reassessment was conducted at the height of the market in 2006.
Confused yet? Just be glad you're not moving here from a state like California -- it would make even less sense! I'd be happy to shed some light on this one on one; I attended a seminar Steve Rubinstein from Realty Appraisal Company held last December. And you thought I was just going to blog about rock shows! Hah!
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