The Mercer County Board of Taxation received and approved compliance plans for four municipalities in 2011.

By way of background, a tax assessor may revise and update assessments, particularly after a revaluation has occurred, when he or she believes that part of a taxing district has been assessed at a value lower or higher than is necessary to secure uniform taxable valuation of property, and the interests of the public will be promoted by reassessment of such property.  Minor readjustments to tax assessments are done through a mechanism known as a compliance plan, which is submitted to the county board of taxation for approval. Minor readjustments occur when less than 50% of the existing properties in a taxing district are adjusted after all of the real property is reviewed. The readjustments achieved through a compliance plan ensure that the tax equalization achieved by a revaluation is maintained throughout the taxing district.

The assessor is required to review every neighborhood in determining if and what adjustments are warranted. Among the items analyzed are: sales, listings and tax appeals.

Changes may occur if sales and listings indicate that the neighborhood assessments are either too high or too low. The tax assessor may also adjust certain properties within a neighborhood due to data corrections and appeal reductions, etc.

After listening to the Council and resident’s concerns and closely monitoring the tax appeals for 2010, the Borough and Township Assessor Neal Snyder filed a compliance plan for the tax year 2011.  The plan is one of the steps his office is taking to ensure that each parcel of property is taxed with its fair and full value as provided by law.

Of the 5,590 properties and 121 neighborhoods in the Township of Princeton, 1,177 properties in 22 neighborhoods are being adjusted as a result of the compliance plan.
This equates to a tax readjustment of 21% of the properties.

Of the 2,563 line items with 74 neighborhoods in the Borough of Princeton, 321 properties in 9 neighborhoods are being adjusted as a result of the compliance plan.  This equates to a tax readjustment of 12.5% of the properties.

Hopewell Township and West Windsor Township have submitted compliance plans each year since their revaluations were implemented in 2006 with changes to the maximum 25% of the line items allowable under law.  Pennington Borough and Robbinsville Township also filed plans in 2010 with changes at the 25% limit.  For 2011, Hopewell Township is adjusting 40% which is under the new 50% limit while West Windsor Township is adjusting approximately 11%.

Each taxpayer has been notified of their 2011 assessment via the postcards mailed out in February.  Any taxpayer who feels that their assessment is out of line is encouraged to file a tax appeal with the board of taxation on or before April 1, 2011.