Asbury Park Press from Asbury Park, New Jersey • Page 26

Look for our terrific 44-page Spirit last-minute gift booklet in most of today's newspapers. Shop today, 10a.m. to (Paramus closed Sundays.) Mas 1 (oMw sr Ik mw on Asbury Park Dec. 18, 1983 A27 Tax rate cut 1 in Ocean, but valuations up By ROSE ANANTHANAYAGAM Press Staff Writer OCEAN TOWNSHIP Following the recent revaluation, total assessed property value in the township is projected at $737 million, up from $412 million, reflecting a 42 percent increase in market value. Homeowners saw the assessed value of their homes almost double, on the average, as a result of the township's first revaluation since 1976, Alba Dello, township assessor said.

Based on the 1983 budget, the estimated 1984 tax rate would be $2.70 for every $100 of assessed valuation, compared with the current rate of $4.83. Because the revaluation is based on current market values, higher than previously used, the tax rate needed to support the current tax levy is reduced. The purpose of a revaluation is not to increase taxes, but to distribute the tax burden fairly among taxpayers, Gregory C. Fehrenbach, township manager said. So on one end of the scale, there's homeowner he faces a big increase in his taxes, because of an increased assessment reflecting increased market value of his home.

On the other end, setting a balance, is homeowner the property value of his house has not increased much, and his new assessment reflects that. His taxes may decrease compared to what they would be without revaluation. THE NEW appraisals will be used for assessment purposes starting next year. The revaluation was conducted on 7,739 property items. But wherever and whenever property values soar when buyers are willing to pay high prices for homes assessed value and true market value soon part company.

In fact, all of the 40 to 50 homes sold here since the revaluation, were sold at prices exceeding their assessed value, Mrs. Dello said. She added that in one case, an owner who questioned an assessment of $198,000 on his home, later sold that home for $210,000. By law, a municipality has no control over a revaluation. It must be done by a state-certified appraiser: In some municipalities, that may mean the tax assessor.

The township chose Realty Appraisal Company, a Hudson County firm, to do both the 1976 and present revaluations. But the governing body which must authorize it, pay the appraiser and explain the results, always faces a tricky balancing act. It's costly, for one thing. The recent revaluation, to be paid off over a five-year period, will add 1.12 cents onto the tax rate. Realty Appraisal will receive $218,000 for this revaluation, compared with $104,400 last time.

So a municipality tries to go for as long as possible without one but the longer it waits, the greater the impact when a revaluation finally is done. THE 1976 revaluation established total assessed valuation at the new one raised it to $737 million. A number of factors, inflation being the largest, account for the increase. Mrs. Dello noted there was a heavily inflated housing market here after the last revaluation, with a large influx of buyers paving high prices for homes.

Property assessments probably increased most in West Allenhurst, Deal Park, Shadow Lawn Manor, and parts of Wayside. Conversely, areas such as Colonial Terrace probably did not experience large increases, Mrs. Dello said. On homes existing in 1976, assessments would have increased by 85 to 115 percent, she said. Figures showing the relative contributions of commercial and residential ratables to the tax base are not yet available, so it's difficult to assess how the tax burden may have shifted, Mrs.

Dello and Fehrenbach said. However, Fehrenbach perceives a slight shift, maybe 5 percent, from the commercial to the residential sector. -That reflects the general economy, which had been in a downward slide until several months ago, he said. In contrast, the 1976 revaluation had shifted the burden greatly from homeowners to businessmen, Mrs. Dello said.

HOW WAS the revaluation received by residents? About 500 came in to discuss their assessments with Realty Appraisal representatives. That doesn't include phone calls, Mrs. Dello said. That's a lot, but it's 300 less inquiries than were made in 1976. Also, most people merely had questions about their assessments, she said.

"It's a good indicator that values that the people saw were acceptable. They may not have been wanted, or desired, but they were acceptable," Fehrenbach said. Realty Appraisal is being asked to make almost 100 re-inspections, or additional visits, either because the homes could not be inspected, or because some aspect of an assessment a finished basement or second bathroom, for instance has been questioned. Mrs. Dello said she required that no fewer than 90 percent of properties be fully inspected.

The company had been unable to inspect some houses on the first round or repeated tries, either because no one was home or because they were barred from entering, she said. (One man in 1976 had hoisted a shotgun, she recalled.) If he can't enter the house, the field inspector must make a visual and liberal assessment of the property, meaning if a resident bars an inspector, for reasons of privacy or whatever, his house may be assessed for unmade improvements, she said. Antique sword show at Holmdel Library HOLMDEL TOWNSHIP A collection of antique American swords, on loan from area residents, will be exhibited by the Holmdel Historical Society at the Holmdel Public Library, Crawfords Corner Road, during regular library hours through December. Highlights include a brass artillery sword, circa 1810, etched with the phrase "Honor and Thy Country," and two swords, dating from the 1840s, from the early dealer Wm. Horstmann Son, Philadelphia.

Both feature mother of pearl grips. Two swords manufactured by the Ames Manufacturing Chicopee, represent the Civil War period. One is an artillery short sword made in the Roman gladiator style. The other is a non-commissioned infantry officer's sword dated 1862. Also on display are a small, brass-hilted diplomat's sword from the 1880s and a presentation grade staff and field officer's sword with red stone grips.

All the swords, including two from the 20th century, will be displayed against a background of Richmond, newspapers dating from 1898. Forthcoming exhibits include Zeppelin stamps, character steins, Toby mugs, antique baseball cards and autographs, and antique clocks. Any resident who would like to exhibit a collection of items) should contact Marty Rose Everhart, P.O.Box 228, Holmdel, N.J. 07733. Misses' PantHer blouses, orig.

$27431 79.99 Diane Von Furstenburg Luxana sweaters, orig. $2719.99 Misses' blouses by Josephine, orig. 19.99 All Vanderbilt Misses' jeans 25-50 off All Misses' John Henry shirts 25-40 off All Misses' Stanley Blacker woven shirts 30 off Chaus dresses, terrific selection 40 off 50 off Misses' down coats, orig. $1 58 $79 Esprit wool-blend sweaters vests 25 off Cunne Sax Junior dresses, sportswear 25 off Gloria Vanderbilt Junior jeans, orig. 19.99 Teddy bear with 14K gold heart charm, special! 9.99 Men's Traditionalist striped rugby shirts 30 off Men's cottonlinen argyle vests, special! Men's Aris split leather gloves, special! 11.99 Pierre Cardin leather wallets, reg.

$20 12.99 Cardin reversible leather belts, special! 72.99 Pierre Cardin tie rack, special! 7.99-9.99 Misses' Sutton digital watch, special! 11.95 All Jockey for Her panties 20 Off 40 Off Gloria Vanderbilt Girls' cable sweaters 79.99 4-14 winter robes, orig. $24426 5.99 Girls' cuddly animal slippers, orig. $12.50 20 Off All Misses' Children's slippers (d.365,345,379,440,234,382,232,423,395,351 ABifigwiMir! Reductions off regular and original prices. No mail or phone Sale ends December 24th. These terrific values on sale through Saturday, December 24th.

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