Notices for Gloucester County’s first reassessment since 2020 will be mailed out later this month to inform property owners of the new assessed value. The new values will be applied to bills for county taxpayers in 2023.
County Assessor Dan Thomas said the values are driven by the real estate market, which has seen prices steadily increase since the last reassessment.
The overall increase for the 2023 reassessment is expected to be between 30 and 40 percent, but that will not be certain until the end of January 2023, said Thomas. He said around 500 properties have yet to be reviewed and those that have may undergo adjustments in December.
Thomas said after the initial shock of the new values fades, residents should ask themselves if the new value of their property seems accurate based on the market they’ve seen in the last year.
Thomas said residents should have an idea what their property values will be, based the state of the housing market within their neighborhoods. However, he sai...