In accordance with State Law and under the authority of the Essex County Board of Taxation, the Township of Irvington, New Jersey, has completed a municipal-wide revaluation of all properties for 2025. The purpose of the revaluation is to ensure uniform and equitable assessments and correct any inequities that have arisen over time. The deadline to file appeals contesting assessments in the revaluation is May 1st, 2025.
How the Irvington NJ Property Revaluation May Affect Tax Liabilities
At Skoloff & Wolfe, P.C., the property tax department has been monitoring the Irvington, NJ, revaluation carefully. Although revaluations are intended to equitably distribute the property tax burden, they can result in dramatic increases in both assessments and taxes for commercial property owners.
“In any revaluation, taxpayers can experience a dramatic increase in their tax burden,” says David Wolfe, Co-Managing Partner of Skoloff & Wolfe, P.C. “This is why we always pay close attention to revaluations. We’re ready to work with our clients, if necessary, to appeal the assessments and mitigate the impact of the revaluation.”
New Property Tax Rate for Irvington, New Jersey
The Irvington revaluation has been completed, and a revised (budget-neutral) estimated tax rate has been projected for 2025. The estimated tax rate was reduced from $6.197 to $2.413 (based on the township’s 2024 budget).
This spreadsheet was created by Appraisal Systems, Inc.
Mitigating Tax Burden After the Irvington NJ Property Revaluation
While the property tax rate went down, the assessed values of properties increased significantly. Commercial property owners should carefully review their assessments to ensure they do not pay more than their fair share of the property tax.
“This is the time to take a close look at your assessment and the corresponding taxes owed. We are happy to help review properties with our clients and determine if an appeal may be warranted,” says David. “The deadline for appealing the assessment is quickly approaching, so prompt attention is advised.”
Revaluations Coming to West Orange and Carteret
Other New Jersey municipalities, including West Orange and Carteret, are also conducting revaluations. Commercial property owners there should similarly review their new assessments with experienced counsel to ensure they do not miss the opportunity to contest their 2025 taxes. If you have questions about a revaluation or assessment, Skoloff & Wolfe, P.C. would be happy to help.
