Property Tax Revaluation In Newark: Will Your Share Rise Or Fall?

NEWARK, NJ — The march towards a property tax revaluation continues in New Jersey’s largest city. And as it does, many Newark homeowners have a pressing question on their minds: “Will my share go up or down?”

The short answer? It depends.

After 14 years, the city is doing a “reval,” which could potentially increase – or lower – a Newark home or business owner’s property taxes.

The mandatory program has been ordered by the Essex County Board of Taxation, and will include all residential, commercial and industrial properties in Newark.

During a revaluation, all local properties are reassessed to find out their current “full and fair value.” The goal? To make sure each home or business owner is paying their fair share toward the town’s overall tax burden.

Although almost all property values rise during a revaluation, it doesn't necessarily mean that all property taxes will increase, experts explain: some may rise and others may fall (learn more here).

During a revaluation, assessors visit properties and conduct inside and outside inspections. These will begin this year in Newark (learn more here).

Letters with the new property values are expected to be sent at the end of 2026.

Property owners who disagree with the new assessed value of their homes can arrange an informal hearing or file an appeal with their county board of taxation. The city has contracted with Appraisal Systems Inc. (ASI) to conduct the revaluation program. Call ASI with any inquiries regarding the inspection procedure or the revaluation process at (201) 493-8530.

Newark Mayor Ras Baraka and other city officials recently held a virtual town hall on the subject (watch it below, or view it online here).

The mayor said there is already a “myriad of misinformation” circulating about the revaluation, which is required by the state.

“Hopefully what this does is provides a balance, so that people are paying what they’re supposed to pay in terms of what their assessments are,” Baraka said.

Newark officials plan to hold additional public workshops in each ward of the city. The first meeting took place in the South Ward on Jan. 28.

Another public meeting is scheduled in the East Ward on Thursday, Feb. 13. It will take place at 6 p.m. at the Portuguese Sports Club, 55 Prospect Street (learn more here).

Property taxes in New Jersey are mainly made up of three parts: school, municipal and county.

• See Related: Newark Council OKs 2024 City Budget With Tax Hike
• See Related: Property Taxes In Newark (See Latest 5-Year Breakdown)

Newark isn’t the only municipality in Essex County that has recently been ordered to undergo a tax revaluation. West Orange has also been carrying out a revaluation campaign – the first it has seen in more than a decade.

“People really want to live here, and they’re willing to pay a very hefty price to do so,” a township administrator recently commented.

• See Related: 'Scary Numbers' For Some West Orange Homeowners Amid Tax Revaluation

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