Duggan Quoted in Trenton Times on Property Revaluation

sstark on February 6, 2006

Timothy Duggan, a shareholder in the Property Valuation group, was quoted in the article “Revaluations ‘Bad for Your Taxes'” in the February 5 edition of the Trenton Times. The article discusses the reactions of homeowners in Mercer County towns whose homes are currently being reassessed. Mr. Duggan commented on the uncertainty homeowners face, not knowing how the revaluations will affect their property taxes.

Read the article here.

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2 Replies to “Duggan Quoted in Trenton Times on Property Revaluation”

  1. Dan Fabrizio March 14, 2006 at 11:12 am

    When a town reval’s a resident’s property very high (too reflect 100% of the true market value) and you provide hard copies of recent sale (with the last 3 months)that closer reflects the true market value of a home, can the reval firm counter that the comps you provided are part of a group sale by a developer (closing dates and prices are different for identical homes) and can not be counted as a comp?

  2. Tim Duggan April 5, 2006 at 10:27 am

    Mr. Fabrizio – Good question. Without knowing more about the comparable sales, I cannot give you a definitive answer on whether the sales would be considered comparable. However, I am not surprised by the revaluation company’s response. It is not unusual for a homeowner and revaluation company to disagree on which sales are truly comparable – that is why we have an appeal process. If there are any unusual aspects to a sale, the sale can generally be adjusted. However, certain sales are generally less reliable (ie. an estate sale or bank sale) due to the motivation of the seller. You need to get as much information about the sales to show they are truly comparable.

    I hope this helps.

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