Revaluation

Boro of Franklin

The Sussex County Board of Taxation directed Franklin to undertake a Complete Reassessment Program beginning with tax year 2023 and continuing through 2028. We are now entering year 5 of the program. This program will ensure uniform and equitable assessments throughout the municipality, account for recent changes in the real estate market, and significantly reduce costly tax appeals. The Borough has contracted with Appraisal Systems, Inc. to assist in conducting the Reassessment Program.

During 2022, 100% of all properties were inspected to establish the new assessments for Tax Year 2023 (the Base Year). As per NJ Division of Taxation requirements, at least 20% of the Borough’s properties must be reinspected each year over the remainder of the program (2024-2028). These inspections help assure that current market valuations are maintained each year.

The purpose of this inspection is to maintain accurate and current data regarding your property. Appraisal Systems, Inc. will be supplied with all current Property Record Cards (PRC’s) maintained by the Assessor’s Office and any recent construction permits issued by the Building Department. Appraisal Systems, Inc. representatives will carry photo identification and their names will be registered with the Police Department and the Borough Clerk’s office. Please do not allow anyone to enter your home without proper identification. You will be requested to sign the field form used by the representative to acknowledge when an interior inspection is made. Please advise the occupants of any rental units you may own so they are prepared for the inspection.

A contactless interior inspection using a video conference either during the first visit or a mutually convenient scheduled time will also be an available option.

If your property has a unique condition that you feel influences value, please send documentation to Appraisal Systems, Inc. (139 Harristown Road, Suite 103, Glen Rock, NJ 07452) and it will be considered in the process.

Regardless of when a property is visited during this 6-yr program, new assessments for 2027 will be determined on ALL properties based on the estimated market value as of October 1, 2026 (the statutory date by law). It is important to note that while only 20% (+/-) of properties are being inspected each year after the base year - ALL properties in town will be re-valued based on recent trends determined from a review of sales and rental activity within the past year. All property owners will be notified by mail of their proposed new assessed values and will have an opportunity to review and/or contest same.

Any inquiries with respect to the inspection and/or valuation procedure should be directed to Appraisal Systems, Inc. at (201) 493-8530.

Franklin Borough Introductory Letter (pdf file)