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For Release JUNE 3, 2008

REVALUATION PROCESS TO START BY THE END OF JUNE

Last year the Essex County Tax Board ordered Livingston to revalue all residential and commercial properties to update the assessed values to current market value. During the past several months the preliminary steps, including the updating and State approval of the Township tax maps and an extensive process to select a firm to carry out the revaluation has been completed.

Appraisal Systems, Inc. (ASI) has been selected by the Township Council, with the assistance of the Blue Ribbon Citizens Committee, to perform the revaluation. Final approval of the contract with ASI by the State Division of Taxation is pending and is expected by the end of this month.   Once the State approves the contract, introductory letters and a brochure will be mailed to each property owner to commence the first step in the revaluation process, the door-to-door inspections. At a meeting last week representatives from ASI discussed with Township officials and the Blue Ribbon Citizens Committee the details of the upcoming inspection process. Of particular interest to the Township representatives was the assurance of a plan which will guarantee property owners a fair and equitable appraisal process.

ASI has recently performed revaluations in North Caldwell, Fairfield, South Orange, Verona and many other municipalities throughout the state. The firm has more than 25 years of experience performing revaluations in the State of New Jersey. The Livingston project will be headed up by Rick DelGuercio, President of the company. In addition to the experienced field inspectors, the firm employs State Certified Real Estate Appraisers, such as Mr. DelGuercio, who will prepare the actual property assessments.

According to Mr. DelGuercio, “complete transparency of the process and the prompt release of all data to the residents of the Township are keys to a successful and fair revaluation.”

In the next few weeks, every property owner will receive a letter and brochure from Appraisal Systems introducing themselves and explaining the process. The letter will detail the identification carried by the field inspectors and a phone number to call if there are any questions or concerns concerning the inspection.   “Please bear in mind that the person who visits the properties is an inspector who is charged with gathering information,” indicated Township Manager Michele Meade. “Setting the value of each property is a detailed process which involves the inspection information plus a comprehensive review of comparative sales, neighborhoods and a whole set of State guidelines.”

A special web site will be posted that will further discuss the Livingston revaluation process and answer questions that property owners may have. The site will detail progress throughout the entire process and will eventually list all data collected. It may be reached via a link from www.livingstonnj.org.

Meade noted that “the Township hired ASI, not only for their expertise in completing revaluations, but also due to their excellent customer service. There will be opportunities over the next couple of months for property owners to attend public meetings to learn about the revaluation process and have their questions answered. If any group is interested in hosting a meeting, please call the Township Manager’s office at 973-535-7973 to make arrangements.

It is expected that the inspection process will take five months. Assessments will be calculated and mailed to residents by the end of the year.