By order of the Monmouth County Board of Taxation, and with the approval of the State of New Jersey Division of Taxation, Wall Township will undergo its first property revaluation since 2002. The revaluation had been scheduled to be conducted in 2014 and implemented for the 2015 tax year. However, due to delays in obtaining tax map approvals by the State, the revaluation is now scheduled for completion by November 2015, for implementation in 2016.
The purpose of the Revaluation is to establish new assessments on all Township properties to reflect fair market value as of October 1st, 2015. Property values throughout Wall Township have changed since the last revaluation was implemented over a decade ago.
This process will help ensure that all property owners receive an accurate valuation for their property, and pay their fair share of the local, school, and county tax burden. This is a mandatory process as required by both the State and the County. The Township is doing its best to make this process run as efficiently as possible without undue hardships to Wall residents, so it’s very important that we have people’s full cooperation during this time.
The revaluation will be conducted by Realty Appraisal Company, a State-approved firm specializing in New Jersey revaluations, with over sixty years of experience.
Preliminary valuations will be made by the Realty Appraisal Co. appraisers in the fall of 2015, and presented to Wall’s Tax Assessor for his review and approval. After new value notices are mailed out in November 2015, property owners will have an opportunity to discuss their new value with a company representative before the valuations are certified.