Archive for April, 2011

Property Taxes in the year of the Revaluation

property taxes

The average resident of Maplewood will not see an increase in his tax rate from 2010 to 2011.  Of course the revaluation will still cause many homeowners headaches with higher payments due to their new assessment.  But the town decided to at least come in below the cap of a 2% yearly increase with a 0% increase.

Elected officials felt that with the ‘perfect storm’ of a lousy economy and the revaluation which has seemed to place a bigger burden on the least affluent parts of Maplewood, that a rising rate would be too much.  This reval was a partial reversal of 2000 which saw a big increase for the wealthier sections of town.

Part of the reason the town was able to accomplish this was because of a slight growth in commercial rate-ables as compared to the residential share of the tax load.