General Information of the Assessor Department
For 2001, Teaneck has a total of 11,710 taxable real properties with an aggregate assessable value of $2,571,451,300. This represents a net increase of $4,025,600 over the aggregate assessable value of real property for 2000. With the addition of taxable business property, the net valuation taxable was $2,575,643,884 for 2001. This represents an increase of $3,212,872 relative to the 2000 net valuation taxable. (The value of taxable business property as reported by Verizon Communications decreased between 2000 and 2001.)
The following breakdown by property class is observed for real property in 2001:
|Property Type||# of Parcels||% of Total #||% of Ass'd Value|
|1-4 family Res.||11,116||94.92||84.32|
In addition to taxable real properties, Teaneck has a total of 316 exempt properties which include schools, municipal properties, houses of worship, charitable properties, and hospitals.
Due, in part, to escalating property values throughout the region, the number of tax appeals declined once again in 2000. A total of 55 appeals were filed with the Bergen County Board of Taxation during 2000. In contrast, there were 107 filed during 1999, and 216 filed during 1998. Petitions for appeal must be received by the Bergen County Board of Taxation on or before April 1. Tax appeal hearings are scheduled by the County Board of Taxation during the months following receipt of petition. Petitions and instructions for filing are available directly from the County Board of Taxation at (201) 336-6300.
Teaneck is currently under order from the Bergen County Board of Taxation, with the consent of the Division of Taxation, to complete a revaluation of all properties within the Township. The order was appealed by the Township to the N.J. Tax Court in 2000. As of April 2001, the appeal was still pending.
The State Constitution authorizes an annual property tax deduction from the property taxes levied on a dwelling house owned and occupied by a qualified senior citizen, a person less than 65 who is permanently and totally disabled, or a person who is the surviving spouse of a qualified senior or disabled person. In order to qualify, persons must be residents of the State of New Jersey, reside in the property for which the deduction is claimed, and have an income not exceeding $10,000 annually, excluding Social Security or a comparable governmental retirement or disability program not to exceed the equivalency under Social Security. The State Constitution also provides for a tax deduction for qualified veterans and/or their surviving spouse. To qualify, the veteran must have served during a designated time of war as follows and have received an honorable discharge:
|"Joint Guard" Mission - Bosnia & Herzegovina||Dec. 20, 1996 - Ongoing|
|"Joint Endeavor" Mission - Bosnia & Herzegovina||Nov. 20, 1995 - Dec. 20, 1996|
|"Restore Hope" Mission - Somalia||Dec. 5, 1992 - Mar. 31, 1994|
|Operation Desert Shield/Storm||Aug. 2, 1990 - Ongoing|
|Panama Peacekeeping Mission||Dec. 20, 1989 - Jan 31, 1990|
|Lebanon Peacekeeping Mission||Sept. 26, 1982 - Dec. 1, 1987|
|Grenada Peacekeeping Mission||Oct. 23, 1983 - Nov. 21, 1983|
|Vietnam Conflict||Dec. 31, 1960 - May 7, 1975|
|Korean Conflict||June 23, 1950 - Jan 31, 1955|
|World War II||Sept. 16, 1940 - Dec. 31, 1946|
|World War I||April 6, 1917 - Nov. 11, 1918|
Note: Peacekeeping Missions require actual service in a combat zone for a total of 14 days, unless a service injury was received in a combat zone.
These Constitutional authorizations are administered by the Assessor. The Assessor should be contacted for the necessary forms for those individuals who feel they may qualify.
During 1998, legislation was passed to authorize a freeze in property taxes for qualified senior citizens. Formally known as the Property Tax Reimbursement Program, this program is administered by the State Division of Taxation which should be contacted at 1-800-882-6597 for an application or additional information.
James R. Tighe, Tax Assessor
|Hours:||9:00 A.M. to 5:00 P.M. Monday - Friday|
|8:30 A.M. to 4:30 P.M. July and August|
The Office of Assessment Administration is responsible for taxation in conformity with existing statutes and regulations. The office prepares all assessment rolls as required by law. Exemptions and partial exemptions such as qualified veterans or their widowed spouses, qualifying seniors citizens, houses of worship and certain schools are administered by this office.
Current New Jersey Property Tax Relief Programs as of August 2000 included:
Saver Rebate: This is the most recently enacted property tax relief program, having been instituted in 1999. All residents who owned and paid taxes on a home used as their principal residence are eligible. There are no age or income requirements. This rebate is applied for via telephone by June 11th, directly with the NJ Division of Taxation. The local assessor's office has no involvement in mailing forms, calculating rebate amounts, or processing claims. You may call 1-877-NJTAX72, toll free, for additional information on this program. The rebate amount varies by municipality and is based on the effective school tax rate.
Homestead Rebate: This program was formerly administered, in part, by the local assessor's office. It has been modified over the years and is now administered by the NJ Division of Taxation through NJ income tax returns (Form HR-1 040 and NJ-1040 if required). Homeowners and tenants who pay property taxes on their principal residence in New Jersey, either directly or through rent payments, and whose gross income does not exceed $100,000 (65 or older, or disabled) or $40,000 (all others) are eligible. This rebate ranges from $30 to $500.
Property Tax Reimbursement: This is a program for those 65 or older or those receiving federal disability benefits only. These individuals must have paid property taxes on their principal residence directly or through mobile home park fees. Applicants must be NJ residents for at least 10 years and must have lived in the residence on which the reimbursement is claimed for at least 3 years. There are income limitations as well. Applicants must meet all requirements for the base year and reimbursement years. The reimbursement will be equal to the difference between the taxes paid in the reimbursement year and the base year. This program is administered by the NJ Division of Taxation. The local assessor's office has no involvement. The deadline for filing is March 15th. You may call 1-800-882-6597 for additional information or to request form PTR-1.
Property Tax Deduction/Credit: This is a deduction from your taxable income base for calculating your annual income taxes. It is available to all homeowners and tenants for their principal residence. It is filed for on your NJ income tax return, or on Form HR-1040, if not required to file an income tax return.
Senior Citizen's/Disabled Annual Property Tax Deduction: This is an annual $250 deduction available to those 65 or older with incomes less than $10,000 per year, excluding Social Security payments. Applicants must own and reside in the home on which the deduction is claimed. This deduction is processed locally, and application forms are available in the Assessor's office located on the first floor of the Municipal Building.
Veteran's Deduction: An annual deduction of $100 from property taxes is available to qualified veterans or unremarried widows of veterans. The amount of this deduction will be increasing by $50 per year until a maximum of $250 is reached in 2003. This deduction is administered by the local assessor's office. Applications are available in the Assessor's office located on the first floor of the Municipal Building.
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