Thursday, August 2, 2012
Public will have a chance to make feelings heard during ordinance hearing on Aug. 15
The plan to reassess borough properties met Wednesday with objections from two residents. The Borough Council introduced an ordinance seeking $300,000 in an emergency appropriation to conduct a reassessment of the homes and businesses in the borough. The public hearing on the ordinance is scheduled for Aug. 15 Mayor Sylvia Petillo said the borough revalued all properties in 2007, but the soft housing market since 2008 created a situation where assessed values of properties are not aligned with the market value, resulting in a sharp increase in tax appeals. “We need to get uniform rates,” Petillo said. Records show that Hopatcong's total assessed property value fell from $2.037 billion in 2011 to $1.996 billion in 2012. The borough has 360 …
Sunday, July 29, 2012
Payments to be spread out over five years, borough official says.
- GOVERNMENT
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Sunday, July 29, 2012
Hopatcong has started toward a borough property re-evaluation. The council is expected to approve $300,000 to fund the re-evaluation, which wouldn't count against the 2012 budget, Borough Administrator Robert Elia said. In fact, Elia said, the money would be spread out over payments of $60,000 a year starting 2013. Elia said Hopatcong hasn't hired a company to perform the re-evaluations yet. During the 2008 re-evaluation the borough employed Certified Valuations Inc., Elia said. Tax Assessor Therese DePierro said 368 property tax appeals had been filed in Hopatcong as of April 1. The re-evaluation "should reduce the number of appeals," DePierro said. Earlier in June, Councilman Michael Francis said the assessed property values of many …
Monday, June 4, 2012
Councilman, mayor say many property values don't reflect market values; push for borough-wide reassessment.
- NEWS
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Monday, June 4, 2012
With hundreds of tax appeals pending and after watching its total assessed property value drop $41 million, Hopatcong could undergo a property revaluation in 2012. Councilman Mike Francis, head of the borough's finance committee, said he would push for the revaluation at the council meeting at 7:30 p.m. Wednesday at the municipal building. Francis said the assessed property values of many borough homes don't match their market values. Mayor Sylvia Petillo also said she would be behind a total revaluation, which would be Hopatcong's first since the housing market tumbled in 2008. Hopatcong has upward of 360 tax appeals pending, tax assessor Therese DePierro said. "The way the housing market is now, and the economy, I don't think it's fair …
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Hopatcong Borough Municipal Building
River Styx Rd, Hopatcong, NJ
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Roll Back Our Tax
11:46 pm on Wednesday, August 15, 2012
Elia said I left too soon for him to explain that Hopatcong had a AA rating and their bond yield they have to pay investor is in the low 1%. See link... http://www.bondview.com/pricecheck/issuer/439340DX5 You see any current yields in the low 1%? No but I see a lot of 2, 3 and 4% yields. How about the star ratings. The US government has a AA rating. You see any 5 stars for Hopatcong? NO but I see… more ›