Revaluation

Boro of Mountain Lakes

Project Status (as of December 12, 2022)
A reassessment of all real estate property in the Borough of Mountain Lakes is now 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, 2022. 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 Mountain Lakes has increased for the 2023 tax year; therefore, the tax rate will change accordingly. For comparative purposes, a tax rate of $2.451 (per $100 of assessed value) has been estimated for 2023 to give property owners a sense of how their property taxes may increase or decrease based on the new 2023 proposed property assessments. This estimated tax rate does not include any potential budget increases in 2023, and the exact tax rate cannot be computed until the County, School and Municipal budgets are approved and calculated into the official 2023 tax rate next year.

Value letters are being mailed beginning on December 9, 2022.

If you desire, you may speak with an Appraisal Systems Inc. representative to discuss any relevant information regarding your new 2023 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. Meetings will be conducted up through January 6, 2023 so please call as soon as possible.

Thank you for your continued cooperation during the reassessment process.

Introductory Materials
Mountain Lakes Intro Letter (pdf file)
Reassessment Brochure (pdf file)

Tax Impact
Mountain Lakes 2023 Tax Impact Study (pdf file)
Mountain Lakes 2023 Tax Worksheet (pdf file)
Mountain Lakes 2023 Tax Worksheet (xlsx file)

Neighborhood Map
Mountain Lakes Preliminary NBHD Map (pdf file)

Sales Reports
Mountain Lakes List of 2021 and 2022 Sales (xlsx file)

Assessment Lists
Mountain Lakes 2023 Proposed Residential Asmnts (xlsx file)

Definitions and Codes
Non Usable Sales Codes and Definitions (pdf file)