STONE HARBOR – Stone Harbor Tax Assessor Margaret Slavin used the Sept. 1 Stone Harbor Borough Council meeting to keep the governing body aware of a continued surge in property values. “It’s crazy,” Slavin said.
Slavin pointed to one 60s, split-level, bay-side home that sold for $2.9 million, in November 2017; $3.2 million, in May 2019; and is now on the market for $4.5 million.
“Now, we will see what they get,” Slavin said, but it was clear she expects that sale price to represent a significant appreciation over May 2019.
The borough recently conducted a municipality-wide reevaluation for the 2018 tax year. Slavin noted that the assessed value to market ratio for 2020, just two years after the completion of the revaluation, was at 94.9%, showing continued market appreciation.
Pointing to a different bay-side home, Slavin noted that the home, purchased six months previously for $2.2 million, recently sold for $2.8 million. “That was in six months,” she said.
“I know this will eventually even off, but I don’t see it happening anytime soon,” she added.
Cape May – Governor Murphy says he doesn't know anything about the drones and doesn't know what they are doing but he does know that they are not dangerous. Does anyone feel better now?
