Reassessment in Sea Isle City

Sea Isle City to reassess properties

By BRIAN IANIERI Staff Writer, (609) 463-6713
Press of Atlantic City
Published: Tuesday, July 18, 2006
Updated: Tuesday, July 18, 2006

SEA ISLE CITY — City Commission on Monday authorized a reassessment of city properties, making it the second valuation of expensive shore real estate here in fewer than five years.

Mayor Leonard Desiderio said the reassessment will bring property values in line with their current worth following several years of rocketing land values in shore communities.

Neighboring Avalon underwent a similar process last year.

The city's last revaluation was based on property values from 2003, said George R. Brown III, Cape May County tax administrator.

The citywide revaluation in 2003 increased the city's tax base by about $2.3 billion.

The county tax board hasn't officially ordered Sea Isle City to revalue its properties, but Brown said it seemed to be something coming down the road.

In Sea Isle City's case, assessments performed less than five years apart do not require inspectors to examine the interiors of homes — one of the most costly aspects of a revaluation, Brown said.

“I believe that's part of what prompted the (city's) assessor, not just the rapidly rising values and high-end sale prices, but him recognizing the need would arrive soon based on those sales, and could save the city (money),” Brown said. “I think Sea Isle's taking a pre-emptive step to try to get prepared.”

City Commission passed the $200,000 emergency appropriation to fund the assessments, drawing criticism from the Sea Isle City Taxpayers Association President Tom Henry, who said the expense should have been included in the city's budget earlier this year.

Henry said the revaluation is a good idea, but that the city knew of the situation several months before the budget passed and the funding should have been included in the city's spending plan, which directly affects taxes.

Desiderio said the city was already in its budget process when it found out about the assessments.

The revaluation will be completed by 2007 and be included in the 2008 budget, Desiderio said.

To e-mail Brian Ianieri at The Press:BIanieri@pressofac.com