Re: 2017 Reval ~ Property Inspections

Posted by bodhipooh on 2017/12/7 15:49:21
Quote:

neverleft wrote:
.
Final tab for canceled Jersey City reval is $3.8M

Updated 12:36 PM; Posted 11:55 AM

By Terrence T. McDonald tmcdonald@jjournal.com
The Jersey Journal

JERSEY CITY -- The final tab for the property revaluation Jersey City halted in 2013, plus the city's legal fight to break its contract with the company conducting the long-delayed reval, is $3,784,198.

The amount became official last week when Jersey City finally issued payments to Realty Appraisal Co., the West New York firm hired to conduct the aborted 2011 reval. A judge in April 2016 ordered the city to pay the company, but the city appealed, lost the appeal and in September the New Jersey Supreme Court said it would not hear the case.

http://www.nj.com/hudson/index.ssf/20 ... m.html#incart_2box_hudson


The last paragraph in the linked article should be cause for concern. The city administration needs to get this reval completed and implemented and be done with it. The ongoing uncertainty is unfair to homeowners, as well as potential sellers and buyers.

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