Teaneck's Seismic Tax Shift ; Less Pricey Neighborhoods Facing Biggest Boosts in Bills

Summary

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Homeowners in Teaneck's most modest neighborhoods stand to absorb the biggest tax increases this year while those in wealthier areas will get a break as a result of updates to the property tax rolls that will shift the burden from higher-end parts of town.

The shift is the result of a state-mandated revaluation, aimed at updating outdated assessments on all properties in the town so that owners pay their fair share of taxes to support municipal, school and Bergen County government services.

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Teaneck's Seismic Tax Shift ; Less Pricey Neighborhoods Facing Biggest Boosts in Bills

For some in modest neighborhoods, the shift will be seismic, with some tax bills increasing upward of $2,000. Others will not notice much of a change from last year. For still others on more stately blocks, and commercial property owners, taxes will go up by smaller amounts and could even drop.

Residents will not receive their tax bills until this summer, when 2007-08 tax rates are set. But a computerized analysis of the new assessments by The Record ...

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