For Some, Bloomingdale Revaluation 'Life-Changing'
Lake community property owners voice concerns to borough council.
Dozens of Bloomingdale residents are unhappy with their recent tax assessments that have caused their taxes to increase by thousands of dollars as the borough is in the process of a revaluation. The residents, mostly from the borough's lake communities (Lake Iosco, Morse Lakes, Glenwild Lake and Kampfe Lake), spoke out against their assessments at Tuesday's borough council meeting, many stating that their taxes are projected to increase questionable amounts. Resident Carla De Witt said after the company hired to do the revaluation, Appraisal Systems, Inc. (ASI), visited her home, she was told the land of her one acre lot which was previously assessed at $82,600 was now being assessed at $294,600. The total increase in her property taxes …
In this Article:
Carla De Witt
3:16 pm on Friday, March 9, 2012
My projected tax increase is based on the new evaluation from ASI which in my case is $550,000 and the estimated "new" tax rate as it is stated on the ASI webiste. The current tax rate is 6.41. The estimated new rate is 3.71 That would make my taxes $20,405 a year. That represents an approximate $6,000 increase in one year. The municipal budget my be capped at 2 percent, but our individual taxes … more ›