Jul. 27--Officials this week plan to review bids for a citywide reassessment that authorities hope will address inequities between the last revaluation, where property values were established by figures gathered when the real estate boom was still going strong.

Purchasing Officer Carol Mellaci will open bids at 2 p.m. Friday after City Council members nearly two weeks ago authorized the emergency appropriation of up to $375,000 to perform the work.

According to city Tax Assessor John E. Butow, the last reassessment in the city was completed for the 2007 tax year, while the last full revaluation went on the books in 2003.

Now, with the city's valuation around 94.47 of assessed value to true value and with no evidence the number of tax appeals will decline, officials reviewed tax data for the first half of the year and spoke with officials from the Monmouth County Board of Taxation about the potential tax liability the city would face, given the most recent sale prices, Butow explained.

It was then the county board ordered the city to undertake a reassessment of all properties for the 2010 tax year, said Butow, noting the city is not the only municipality ordered to make adjustments in view of property values that might have declined in the ensuing years.

The city petitioned the state Division of Taxation for permission to proceed with the reassessment, Butow said.

Butow, who began as tax assessor in July 2008, said that as of January, city property owners filed 400 tax appeals with the county and the last day of tax appeal hearings is scheduled for Friday.

But Long Branch officials will not know the full impact of the appeals until mid-September, because property owners have 45 days to appeal the county judgment with the state tax court.

"In Long Branch's case, this was the most efficient way to adjust assessments to reflect the current marketplace which will result in the equitable distribution of the tax burden," Butow said.

In anticipation of ongoing tax appeals, the City Council is set tonight to approve a pool of property value experts available to testify in such matters.

City Business Administrator Howard H. Woolley Jr. and Mayor Adam Schneider are recommending the pool include McGuire Associates of Jersey City, Gagliano Appraisal LLC of Shrewsbury and Integra Realty Resources Toms River. A fourth bidder, ARD Appraisal Co. of Clark, likely will not be part of the pool, after authorities concluded the other three had sufficient experience and expertise to handle matters for the city.

City Attorney James G. Aaron said a reassessment now would help "find a more equitable way to tax people and hopefully to stave off tax appeals." Additional Facts

City Attorney James G. Aaron said a reassessment now would help "find a more equitable way to tax people and hopefully to stave off tax appeals."

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