Revaluation

Boro of Franklin

A reassessment of all real estate property in the Borough of Franklin is 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 Franklin Borough has increased for the 2024 tax year; therefore, the tax rate will change in a reciprocal manner. For comparative purposes, a tax rate of $2.648 (per $100 of assessed value) has been estimated for 2024 to give property owners a sense of how their property taxes may change 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 proposed 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. within 7 days of receipt of your letter.

If you wish to request a copy of your property record card for your review, please email franklin@asinj.com. Please allow up to 72 hours to receive your property record card by email.

Thank you for your continued cooperation during the reassessment process.

2024 -Franklin Borough Intro Letter (pdf file)
2024-Franklin Value Letter (pdf file)
Franklin Borough Reassessment Presentation (pdf file)
Franklin Reassessment Brochure (pdf file)

2024-Franklin Tax Impact Study (pdf file)
2024-Franklin Tax Worksheet (pdf file)
2024-Franklin Tax Worksheet (xlsx file)

Franklin NBHD Map (pdf file)

List of 2022-2023 Sales (xlsx file)

2024-Residential Assessments (xlsx file)

Non Usable Sales Codes and Definitions (pdf file)