Revaluation

Boro of Mountain Lakes

Project Status (as of December 16, 2021)
A reassessment of all real estate property in the Borough of Mountain Lakes is now being undertaken on an annual basis to ensure uniform and equitable assessments. Appraisal Systems Inc. (ASI) has made a complete analysis of all recent market data in order to accomplish this task and determine the value of all properties as of October 1, 2021. The market analysis of your property has been arrived at in accordance with the rules and regulations mandated by the State of New Jersey.

The aggregate value of total assessments in Mountain Lakes has increased for the 2022 tax year; therefore, the tax rate will change accordingly. For comparative purposes, a tax rate of $2.675 (per $100 of assessed value) has been estimated for 2022 to give property owners a sense of how their property taxes may increase or decrease based on the new 2022 proposed property assessments. This estimated tax rate does not include any potential budget increases in 2022, and the exact tax rate cannot be computed until the County, School and Municipal budgets are approved and calculated into the official 2022 tax rate next year.

Value letters are being mailed beginning the week of December 13, 2021

If you desire, you may speak with an Appraisal Systems Inc. representative to discuss any relevant information regarding your new 2022 assessed value as it relates to the market value of your property. Please note: due to Covid-19 all meetings will be telephone conferences. Meetings can be arranged by calling (201) 493-8530 Monday-Friday between the hours of 9:30 A.M and 4:00 P.M. Meetings will be conducted up through January 5, 2021 so please call as soon as possible.

Thank you for your cooperation during the reassessment process.

Introductory Materials
Mountain Lakes Intro Letter (pdf file)
Reassessment Brochure (pdf file)

Tax Impact
Mountain Lakes Tax Impact Study 2022 (pdf file)
Mountain Lakes Tax Worksheet (pdf file)
Mountain Lakes Tax Worksheet (xlsx file)

Neighborhood Map
Mountain Lakes Preliminary NBHD Map (pdf file)

Sales Reports
Mountain Lakes List of 2020 and 2021 Sales (xlsx file)

Assessment Lists
Mountain Lakes Residential Assessments (xlsx file)

Definitions and Codes
Non Usable Sales Codes and Definitions (pdf file)