YOU HAVE YOUR NEW PROPERTY TAX ASSESSMENT. NOW WHAT?

Now that your reassessment is complete, and you likely have gotten the word on your new property value, you can estimate what your new tax bill will be.

Appraisal Systems Inc, which conducted the Essex County-mandated review, has posted information on each property at its website.

Find it HERE.

To determine your new annual tax hit, use the new tax rate of 2.895% instead of the current rate of 3.865%.

To do so, just multiply your new assessed value by .02895.

If your home has a new assessed value of $500,000, the new annual taxes would be  $14,475.00. That is just an estimate, however, and no tax bills will reflect the new assessment until the third quarter of 2017.

If you want to appeal your reassessment, you have until May 1, 2017. See more on how at the Essex County Tax Board website HERE.