FOR IMMEDIATE RELEASE: Friday, February 14, 2020

ATLANTIC CITY, NJ – The New Jersey Department of Community Affairs (DCA) and City of Atlantic City today announced the completion of the a total revaluation of all properties located within Atlantic City. Letters were mailed out to residential and vacant land property owners today to inform them of the new assessed value of their property; letters to non-residential property owners will be sent out by the end of next week.

State law requires that all real property be assessed at 100 percent of market value in order to ensure equal distribution of property taxes. The last revaluation in Atlantic City was conducted in 2008 before the onset of the Great Recession. At the direction of the Atlantic County Board of Taxation, the City of Atlantic City began a revaluation in 2019. Field inspectors with Professional Property Appraisers, Inc. of Delran, NJ, visited properties in person and analyzed all relevant data, including current sales and market conditions, to determine the new value of properties in the city. The revaluation has been approved by the New Jersey Division of Taxation and the Atlantic County Board of Taxation.

The letters mailed today also include information about what the estimated annual property taxes will be in 2020 for the property owner based on the new assessed value of their property. The estimated taxes were calculated using the 2019 budget and do not include any budget adjustments in 2020 that are yet to be determined. The estimated taxes also do not include deductions a property owner may be receiving such as abatements or senior citizen, veteran and/or disabled credits. Property owners will not see the tax impact of the revaluation until their July 2020 tax bill.

Property owners who have questions about the revaluation or their new property value can schedule an appointment to meet with representatives of Professional Property Appraisers at City Hall, 1301 Bacharach Boulevard in Atlantic City. To schedule an appointment, property owners can call 1-800-410-5815. Day, evening and Saturday appointments will be available. Appointments must be scheduled because walk-ins are not permitted due to time and office space limitations. Property owners are encouraged to bring with them to the appointment their revaluation letter and copies of any relevant property information that can be used by the appraisers for further consideration. Property owners who disagree with the new assessed value of their property will have until May 1, 2020, to submit an appeal. 

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Tammori Petty
Gina Trish
Lisa Ryan
(609) 292-6055