ADP OPT-OUT Municipalities

The following Municipalities have Opted-Out of the Monmouth County Assessment Demonstration Program and are therefore part of the Traditional (Revaluation) Assessment Model:

• Allentown, Avon By The Sea, Belmar, Freehold Boro, Highlands Boro, Manasquan Boro, Marlboro Township, Millstone Township, and Wall Township

The following changes occurred to these Municipalities when the left the Monmouth County Assessment Demonstration Program:

• Inspections covering 20% of Township properties on an annual basis will no longer be required. This allows potential cheaters to increase the value of their home with improvement projects that may not be captured on the record.
  
  
• The Tax Assessor must continue to annually certify values for all properties to the County Board
  of Taxation by November 1st. This date applies to Municpalities in Monmouth County. 
  
  
• The deadline for filing a tax appeal with the Monmouth County Board of Taxation remains
  January 15th of the tax year. This date applies to Municpalities in Monmouth County. 
  
  
• By removing annual reassessments the Assessor’s ability to negotiate the retirement of multiple-year Tax Court appeals will be reduced and towns will return to the expanded exposure of multi-year appeal refunds. This often results in larger refunds if relief is granted by the Tax Court resulting in Municipalities in having to use any surplus or Bond with interest for the amount required.
  
  
• By removing annual reassessments there is a return to the mandatory use of the “Chapter 123 corridor of value” that prevented taxpayers from receiving appeal reduction if the assessment was within 15% of the market-value.
  
  
• By returning to the static assessments in the old system taxpayers may grossly overpay or underpay their fair share of the tax levy for years.
  
  
• By returning to the static assessments in the old system municipalities in a depreciating market will return to the widespread environment where all properties may be legally assessed over 100% and have no defense against appeal loss other than implementing an emergency districtwide revaluation.
  
  
• By returning to the static assessments in the old system municipalities are returned to increased commercial appeal exposure caused by assessment ratios that are largely driven by residential sales.
  
  
• By returning to traditional revaluations taxpayers will pay greater costs.

• By returning to the static assessments in the old system municipalities in an appreciation market will not be able to address parcels that appreciate at a pace greater than average. Year after year such properties will pay less and less of their fair share of the current years levy.

• The transparency of annually maintaining true-market-value through the ADP will revert to “ratio assessing” and the need for taxpayers to perform calculations to understand their implied
  market value.