#JerseyCity Revaluation: Let’s #GetCivic

[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Accordion_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Button_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]

Jersey City property taxes, as seen through state compliance data:

Jersey City’s last citywide revaluation was in 1988.
Jersey City’s 2017 equalization ratio is 23.66%.
Jersey City’s 2017 coefficient of deviation is 35.66%.

This is what this data looks like, mapped.

(This map was created by NJ Together)

On this map: Green = under-taxed |  Red = over-taxed

NJ property tax law is based on this foundational premise: assessed values are supposed to equal market values.  Put another way: your tax bill is supposed to be based on the market value of your home. The state tracks how compliant a city is with this premise with something called an “Assessment-Sales Ratio” which is defined as:

Assessed Value / Market Value = Assessment Ratio

This map shows the wide disparity in assessment-sales ratios throughout the city. Two examples to illustrate this concept: 

The green areas show census blocks dominated by LOW ratios.  A good example of a low ratio is a Downtown brownstone that was assessed in 1988 for $100,000 (at the time, that was its market value) but in 2017 that brownstone is now worth $1,000,000.  In this example, the Assessment Ratio is: 

$100,000 / $1,000,000 = 10%

The red areas show census blocks dominated by HIGH ratios. A good example of a high ratio is a house in the heart of Greenville that is surrounded by blighted storefronts.  In 1988 this house was also assessed at $100,000 (at the time, that was its market value), but that house is now worth only $200,000.  In this example, the Assessment Ratio is:

$100,000 / $200,000 = 50%

Revaluation will update all assessed values to be equal to 2017 market values. That will re-institute fairness into the system.  

[siteorigin_widget class=”SiteOrigin_Widget_Image_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Button_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]

Share this site.

[social_warfare]

[siteorigin_widget class=”Tribe__Events__List_Widget”][/siteorigin_widget]

Click here to learn more about how to connect, self-advocate, and strengthen community-based advocacy around Jersey City’s Revaluation.

[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_PostCarousel_Widget”][/siteorigin_widget]
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]
[siteorigin_widget class=”Vantage_CircleIcon_Widget”][/siteorigin_widget]