Firm News & Blog

REASSESSMENT BULLETIN: CITY OF UNION CITY

8/14/2024

REASSESSMENT BULLETIN: CITY OF UNION CITY

As many of our Union City clients know, the City underwent a historic revaluation for the 2024 tax year. As a result, a vast majority of Union City taxpayers saw a dramatic increase in their overall assessments. At the time of this writing, the tax implications have now been realized with the latest third-quarter billings, with most taxpayers having felt an increase in their quarterly bill.

We have also learned that Union City has received County approval to conduct an “annual reassessments” program over the next four years. While this has been common in other counties over the past 5-10 years, it is the first of its kind in Hudson County. Accordingly, we have compiled a list of pertinent information to help prepare you for the coming reassessments.

WHAT IS A REASSESSMENT?

It is the process of maintaining the assessed value of properties within the City at 100% of fair market value.

HOW WILL THE 4-YEAR REASSESSMENT BE DONE?

In contrast to a Revaluation which is conducted over a single year, the Reassessment will be conducted in parts over a 4-year period, with each part requiring a change in 25% of all Union City properties.

WHO WILL BE CONDUCTING THE REASSESSMENT?

The Annual Reassessment will be conducted in part by Union City in partnership with the appraisal firm of Appraisal Systems, Inc. (“ASI”). ASI performed an integral role in the 2024 Union City Revaluation. Further information regarding ASI can be found on this website located here.

HOW WILL I KNOW IF THE REASSESSMENT AFFECTED MY PROPERTY ASSESSMENT?

Once inspections and preliminary evaluations are completed, property owners will be notified via mail with projected 2025 assessments, which should include, among other things, a projected 2025 tax rate. These preliminary assessments are not expected until after the first of the year 2025.

WHAT SHOULD I DO DURING THE REASSESSMENT?

During the Annual Reassessment, you may need to provide formal Chapter 91 Requests for Income and Expense Information. As well as comply with requests for inspections from ASI or Union City.

HOW WILL I KNOW IF I AM REQUIRED TO PROVIDE CHAPTER 91 REQUESTS FOR INCOME AND EXPENSE INFORMATION?

Only income-producing properties are required to comply with formal Chapter 91 Requests for Income and Expense Information.

HOW WILL I RECEIVE THE CHAPTER 91 REQUEST AND HOW DO I FULLY COMPLY?

Union City will mail a formal Chapter 91 request to the Taxpayer's address information connected to the assessed property. You can check the taxpayer information attached to your property here.

To fully comply with the Chapter 91 request, you must sign and return the Chapter 91 form, including income and expense information for the preceding year. You must return all the required information within 45 days of receipt. Otherwise, the City may dismiss your case for failure to comply with Chapter 91.

We are available to assist any taxpayer with questions about the revaluation or its individual impact on them.

Joseph G. Ragno, Esq. (201) 330-7465
jragno@lawwmm.com

Robert J. Guanci, Esq. (201) 330-7463
rguanci@lawwmm.com

Jacob B. Kenter, Esq. (201) 319-5741
jkenter@lawwmm.com