Added Assessment Information
New construction, structural additions, and home improvements completed after October 1st are valued and taxed in accordance with the Added Assessment Law.
A new structure—or an addition to or alteration of an old structure—is valued as of the first day of the month following completion. If the value when completed is greater than the assessed value placed on the structure on October 1 of the previous tax year, an Added Assessment based on the difference must be made. The Added Assessment is pro-rated on the number of full months in the tax year.
Additional assessments that, through error, were not made at the proper time, may be placed on the tax rolls through the Omitted Assessment Laws. An Omitted Assessment can be made for the current year and one prior year.
If you disagree with an Added or Omitted Assessment that is placed on your property, you can appeal to the Bergen County Board of Taxation before December 1st. Learn more about Tax Appeals here.
Helpful Tips:
- When you receive a building permit, expect visits from both the Tax Assessor and the Construction Code Official as their duties require.
- Home improvements may be subject to Added Assessments, which begin the first day of the month after completion.
- The Added Assessment list is submitted to the Bergen County Board of Taxation on October 1st. The tax thereon is due November 1st of the same year.
- Before demolishing an old building, consider its tax cost and usefulness. Any building standing as of October 1st may be taxable for the following tax year. Contact the Building Department to learn about required permits.