Watch video from Jan 21, 2025.
Atlantic County Executive Denny Levinson is pushing for a countywide property tax reassessment.
Levinson wants to ensure fairness across all county municipalities. He used Margate as an example of the issue.
Levinson argues that outdated assessments harm taxpayers and create inequities in the tax system, particularly in towns like Margate, where properties are assessed at just 50% of their true market value.
“It’s long overdue, and the excuses are wearing thin,” Levinson said, emphasizing that taxpayers suffer when assessed values don’t reflect real estate market fluctuations.
Levinson: Margate’s outdated assessments result in artificially high county tax rates to compensate for the lower property values on record. For example, a $1 million municipally assessed home in Margate is taxed like a $2 million property on the county tax roll.
Last time Downbeach area towns did citywide revaluation?
| Margate | 2018 |
| Ventnor | 2017 |
| Longport | 2018 |
| Brigantine | 2016 |
| Somers Point | 2019 |
| Atlantic City | 2020 |
Despite receiving an extension in 2021 from the Atlantic County Board of Taxation to begin full reval for 2024 tax year, Margate has yet to act.
It’s unknown why Brigantine and Ventnor are delaying the inevitable.
Margate Mayor Michael Collins cited issues such as real estate market volatility, mapping revisions, software updates, budget constraints, and a shortage of state-certified revaluation contractors due to the COVID-19 pandemic as reasons for the delay.
Levinson warns that towns without recent revaluations and values well below 100% of market value will likely face higher tax rates if the issue remains unaddressed.
Atlantic County Exec Levinson calls out Margate.
Margate’s real estate market also continues to surge with values up 138% over the past decade and a 17% increase in 2024 alone.
New construction in Margate added over $110 million to its ratable base in 2024.
‘Margate is assessed at 50% of true value. The county tax rate in Margate is artificially high to make up for old assessments’ says the County Exec.
Key Margate Insights:
- 2024 Ratable Base: $4+ billion. (total assessed value of properties)
- Margate median sale price: $1.55 mil. (Nov 2024)
- Luxury homes $2+ mil are driving market. 27 sold in Q3 of 24.
- Margate real estate values up 138% over past decade, 17% in 2024
Ventnor Median Home Prices and Market Trends:
Ventnor City’s current ratable base is $2,211,322,900 — an increase of $39,171,600 from 2023.
The median listing price in Ventnor Jan 2024 was $680,000 with a median sales price of $590,000. A 29% increase from 2023.
Other Triggers for Revaluation: Municipality might decide to revalue or be ordered by County Board of Taxation, Division of Taxation, or even the courts if situation warrants it.
Taxpayers would benefit from countywide tax assessment with values being maintained on annual basis.
Its not clear which of the comments regarding Margate can actually be attributed to Levinson. You “quoted” only one comment, yet attributed several criticisms of Margate to him. Why did you not use quotes on any of the comments but one? And the comment you do “quote” doesn’t mention Margate. Are you attributing comments to him that he didn’t make? It looks like it.
Margate’s last reval was done more recent than Ventnor and Brigantine, why do you single out Margate for the headline and article. Why the Bias?
A lawyer like yourself who brings in a ton of fees from Margate homeowners should learn to stay quiet.
Because that’s what they do here! lol
tax apoeals will soon follow with the affordable ones hiring lawyers to secure tax abatements..
I’m not sure why he didn’t mention brigantine and ventnor although the excuse from the margate mayor was pretty lame. It’s interesting that the County Executive never mentions school consolidation, perhaps it’s because the Co Exec is a former employee of a school district. That being said, the County Exec did make a very strong argument for county driven assessment.
I would like to see a list of the last time the off shore towns were re-evaluated
Re-evaluation is every ten years, looking at the list Margate isn’t due to 2028 if that list is correct. . There are many towns on the list that are past that 10 yr mark. There must be some political riff – atlantic county needs more revenue ? I guess he wants to price locals and the elderly out of their homes w higher taxers. A very sad thing to hear from Levinson. Why not cut your spending and consolidate depts and schools if you can’t make your budget. Many are leaving NJ, you’ll wind up with a very open market of housing in atlantic county.
You’ve got it completely and totally backwards. The larger and newer houses have much higher taxes, which helps to sustain the tax base, while keeping taxes in check for the older, smaller properties. And if the tax rates increase, the dollar increase is far lower on smaller and older homes. It’s simple math.
As a retired municipal manager/administrator, the governing body delays a reassessment (performed by the assessor) or revaluation (performed by a revaluation firm) for two reasons: cost to perform; and, second , that there will be a shift in the tax burden from the new construction to existing older homes, regardless of size in many cases, after the reassessment or revaluation. The rule of thumb is that after a revaluation or reassessment— if the total tax levy does not increase- is that all properties go up in value, but 1/3 of the property owners pay more, 1/3 pay less and 1/3 stay the same. And realistically for the governing body, (though this may not be as much of a factor for a shore community), many of the owners of the older homes have lived in the community for years and are voters who may take out their anger for a higher tax bill received in August the following November.