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Reassessment Contract Approved in Cinnaminson

Township has lost more than $1.5 million in revenue over the last three years because of lost tax appeals.

Township committee approved a contract for $194,000 Monday with Delran-based Professional Property Appraisers (PPA), who could begin the process of reassessing Cinnaminson as early as the beginning of May.

Committee unanimously OKed the contract after the township has seen revenues slip away dramatically the last few years due to lost tax appeals. According to tax assessor Dennis DeKlerk, the township lost more than $1.6 million in tax revenue through appeals from 2010 to 2012, with 2011 ($695,000) and 2012 ($660,000) representing the "high water mark."

Cinnaminson isn't alone. Several communities in Burlington County have undergone reassessments in the last few years—since the housing market tanked—most notably the township's neighbor, Moorestown, which just had its reassessment completed by Appraisal Systems Inc. (ASI).

ASI was the only other firm to submit a proposal for Cinnaminson's reassessment.

As with Moorestown, the reassessment that will be done by PPA here will be less intensive than the revaluation conducted in 2007, DeKlerk said. The firm won't actually be entering homes unless the property has changed since the previous revaluation.

According to DeKlerk, the township's ratable base is currently $1.9 billion, with residential properties accounting for roughly $1.6 billion. The results of Moorestown's reassessment showed its ratable base ($4.7 billion in 2008) dropped by more than $800,000,000 over the last five years. 

DeKlerk said the township also has the ability to prevent further instability in the tax base if it chooses to reinspect 20 percent of the properties each year, over a five-year period. 

"Committee would have to authorize it for it to even be considered," he said. 

Mayor Ben Young said PPA's bid came in well below what the township had budgeted for the reassessment, $250,000. Solicitor John Gillespie previously stated the township would be able to spread the cost over five years.

DeKlerk anticipates PPA's appraisers will hit the ground within the next couple of months. The new values would take effect in 2014. 

John March 21, 2013 at 11:15 PM
The Town gave the person who built the house the ok to build there and bye the way I never said that price you said I did, all I said is if its called Riverton CC why on earth do we tax them, get the facts straight...
Hugh Janus March 22, 2013 at 02:22 AM
@IP Freely - The Riverton Country Club went from 8.9 million down to 5.5 million. That's like someone's house going from 300 thousand down to 186 thousand. However, on the RCC the town loses tax revenue on 3.4 million, not 114 thousand.
IP freely March 22, 2013 at 01:21 PM
Guess it didn't drop $5,000,000 like the other poster claimed. So what. Should they pay taxes on value that doesn't exist any more than anyone else. Is the number correct or not that is all that matters no whether you like it or not. What is this socialism tax them more just because. They don't even get their trash picked up yet they pay taxes for it. What is your point? Did any other commerical property drop in value?
Barb Rivera March 22, 2013 at 10:40 PM
Township took control of the land where The Shoppes now sit because the prior owner left it abandoned. Township was WELL aware of the flooding that was taken place in my area and they still sold the land to a developer who then made the development much larger. It now occupies a large chuck of land that held much if the run off water. Where does this addt'l water go? I can answer that, right down the hill into my neighborhood. So now as a result of them being careless we flood at a much higher rate and more frequent. I don't live on the water, it's actually about 2 blocks away.
agent itchy March 24, 2013 at 01:38 AM
i like the idea of seabox getting a great tax deal. this way mr. sea box can build a castle on tom brown road on our dime. rich get richer, you get squat. thank you cinnaminson twp committee. i can't wait to vote these guys out. we really need new blood at city hall.

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