My tax bill just arrived and my property assessment went down but my taxes went up! How?
In late 2012, Hazlet Township performed a property reassessment to bring property assessments in line with current market conditions. While almost all properties in town experienced a decrease in their assessments, not all assessments decreased at the same rate. As a result, those properties that had a decrease in their assessment that was less than the township average most likely saw an increase in their taxes. Conversely, those properties that had a decrease in their assessment that was greater than the township average may have in fact seen a decrease in their taxes. Also, keep in mind that the tax levies for the Board of Education and Fire District experienced increases in 2013 (the tax levies for the Township of Hazlet and Monmouth County did not increase) that also would contribute to any tax increases you may experience.