Reassessment will leave us with same tax bill

The article in the Oct. 21, 2009, News Transcript, "Manalapan Homes Will Be Reassessed," makes me think: if the values of our homes are dropping rapidly and everyone knows it, why is Manalapan Township fighting the tax assessment appeals? It is not the fault of the homeowners.

What makes me sad is that the values of our homes were inflated by the housing bubble. We now find out that the township is losing appeals regarding the assessed value; does this mean the township is overcharging the rest of us?

According to the News Transcript article, "[Manalapan Mayor Richard Klauber] said when a property owner wins an appeal and has his taxes lowered, the township loses part of its revenue stream and other taxpayers must make up the difference."

Yes, when a homeowner exercises their rights and successfully disputes the assessed value of their home, the township loses part of its revenue. But I do not understand why other taxpayers must make up for the difference.

Manalapan Township is trying to save its revenues based on the inflated prices used from the reassessment in 2007.

How is the township going to get the money from other taxpayers to "make up the difference" without disclosure to public? There is no need to generate fear, or pit homeowners against each other.

The article also states, "He [the mayor] said an individual homeowner may not see a change in the total amount of property taxes he pays after the assessed value of the home and tax rates are readjusted."

If this is the case, what is the purpose of a reassessment? Why waste tax revenues on a fee "not to exceed $200,000"? Who gains from this reassessment?

I also read, "the assessed value of a home determines how much the owner will pay in property taxes to support the operation of schools and the government."

I do not understand this since we have the same schools and government services for decades, when we were paying less tax. Yes, some may argue that we have more schools now, but many more homes have been built in Manalapan as well. The new expenditures should have been balanced by new revenues. Yet I see our taxes going up and up.

This is the same old game. They will adjust the assessed values of our homes down and then raise the property tax rates so that we pay the same total bill.

Why not adjust the assessed values down to the current market level and keep the tax rates the same? Then Manalapan Township will have to learn to live within its means, just like the rest of us.
Violet Peterson
Manalapan