Ventnor Lost $55 Million in Valuation Due to Tax Appeals.

Good news: many Ventnor taxpayers smartly took advantage of their right to appeal their tax assessment. Bad news: Ventnor City lost $55 million in assessed property valuation as a result of those successful tax appeals. That’s why the city is in the middle of a citywide revaluation. Should be completed by early 2017.

Revaluations are done in order to have all Ventnor property owners pay a fare share of municipal taxes.

The post Ventnor Lost $55 Million in Valuation Due to Tax Appeals. appeared first on Downbeach BUZZ.

1 thought on “Ventnor Lost $55 Million in Valuation Due to Tax Appeals.”

  1. I always dislike the misinformation Newspapers show when speaking of Tax Appeals; it sounds like no original thought is in the article but just a regurgitation of a City Tax Assessors message! The Assessor assumes they own the total city evaluations and the resulting tax revenues. Hence their view point is often that Appeals cause a loss! Why is not more correctly reported that a city’s assessments have been corrected by appeals reducing the tax overcharging of some of the property owners! An appeal occurs when the property owner recognizes that
    the cities assessment is wrong and needs correction, leading to an appeal to stop being overcharged due to bad assessment. I know Newspapers’ live by their headlines to sell more papers, but in the appeals process, a winning appeal is not a bad thing, unless you believe it is okay to overcharge some people for the same services delivered to someone else!

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