NJ Communities Could Lose State Aid If They Don't Reassess Property Tax Under Proposed Bill

TRENTON, N.J. (CBSNewYork) -- New Jersey communities could lose state aid if they don't conduct timely property tax reassessments under a proposed bill.

The bill seeks to crack down on the dozens of municipalities that have been avoiding revaluations for decades.

State Assemblyman Declan O'Scanlon says it would deny state aid to towns where the assessed value is less than 85 percent of the real market value for five years.

"The municipal officials involved are simply hiding from their duties and declaring that it's perfectly fine with them that there's a significant percent of their population, 30 to 50 percent, is overpaying their taxes," he told WCBS 880's Stephanie Colombini.

The state's already taken action against some of the worst offenders, Columbini reported. It's ordered Jersey City, Elizabeth and Dunellen to undergo reassessments.