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N.J. towns that have the oldest property tax assessments

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The state has ordered three to conduct revaluations and put six more on notice.

TRENTON -- More than 30 New Jersey municipalities haven't held either a property revaluation or reassessment in more than 25 years, and the state on Monday took action against three of them.

Six more are on notice.

The boroughs, townships, towns and cities that have gone without a reassessment or a revaluation for at least 25 years include the second-largest city in the state, Jersey City, and tiny Walpack Township, which has 14 residents.

The assessed value of a home is used to help divvy up property taxes. But property values change over time, and eventually some taxpayers wind up paying too much and some wind up paying too little.

And as time passes between revaluations, a municipality's assessed values can become significantly less than what the properties are actually worth on the open market. 

Is your town on the list? Click through the gallery above. 

Samantha Marcus may be reached at smarcus@njadvancemedia.com. Follow her on Twitter @samanthamarcus. Find NJ.com Politics on Facebook.

 

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