What is a tax assessment and how often is it done?
By Bob Millaway, South Jersey Community Expert & REALTOR®
A tax assessment is your municipality's valuation of your property for tax purposes. In New Jersey, municipalities are required to reassess or revalue properties periodically. Some towns do annual reassessments, while others go years between updates. A revaluation updates all properties in a town at once.
Why It Matters
Knowing when your property was last assessed helps you understand whether your current assessment is likely accurate or outdated.
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