Revaluation

Boro of Mountain Lakes

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, 2023. 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 2024 tax year; therefore, the tax rate will change accordingly. For comparative purposes, a tax rate of $2.339 (per $100 of assessed value) has been estimated for 2024 to give property owners a sense of how their property taxes may increase or decrease based on the new 2024 proposed property assessments. This estimated tax rate does not include any potential budget increases in 2024, and the exact tax rate cannot be computed until the County, School and Municipal budgets are approved and calculated into the official 2024 tax rate next year.

If you desire, you may speak with an Appraisal Systems Inc. representative to discuss any relevant information regarding your new 2024 assessed value as it relates to the market value of your property. 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 December 21, 2023 so please call as soon as possible.

Thank you for your continued cooperation during the reassessment process.

2024-Mountain Lakes Value Letter (pdf file)
Mountain Lakes 2024 Intro Letter (pdf file)
Reassessment Brochure (pdf file)

2024-Mountain Lakes Tax Impact Study (pdf file)
2024-Mountain Lakes Tax Worksheet (pdf file)
2024-Mountain Lakes Tax Worksheet (xlsx file)

Mountain Lakes Preliminary NBHD Map (pdf file)

Mountain Lakes List of 2022 and 2023 Sales (xlsx file)

2024-Residential Assessments (xlsx file)

Non Usable Sales Codes and Definitions (pdf file)