New law allows towns like toms river to issue tax credits instead of cash for reassessment appeal refunds

TOMS RIVER, NJ – As towns such as Toms River, in Ocean County move forward with a very unpopular tax reassessment project during the COVID-19 pandemic, there’s good news in sight for some taxpayers. Those who successfully challenge and win their appeals against the town and Mayor Maurice Hill can instead issue future tax credits in lieu of a refund.

Toms River has been criticized by residents for an ‘invisible’ reassessment done without inspectors going into many homes due to the COVID-19 pandemic and at a time when home values are at their peak in the town.

Under the new law, A-862/S-926, towns will be authorized to issue property tax credits to homeowners who successfully appeal their assessments rather than issuing payments that can create financial pressures on cash-strapped towns.

“Previously, municipalities were required to refund the money within 60 days of the county board of taxation’s decision,” said Pennacchio (R-26). “Due to revenue constraints, that isn’t enough time to free up the money for many towns.

“Local governments hit with a barrage of successful appeals could find themselves in a bind,” Pennacchio noted. “Allowing them to issue credits against property taxes due the following year makes it easier to manage the municipality’s financial obligations.”

The property tax credits issued under the new law, which would include any interest accrued until the total refund is satisfied, would only be issued for up to three consecutive years, after which any outstanding balance owed to a taxpayer would be paid in full immediately.

“Taxpayers may file an appeal if they want to dispute the assessed value of their property. Appeals must be filed by April 1st of the current year with the County Board of Taxation. Appeals for added or omitted assessments must be filed by December 1st of the current year,” according to the Toms River Township website. ” Appeal forms and information is available from The Ocean County Board of Taxation, Ocean County Courthouse, located at the corner of Washington Street and Hooper Avenue in Toms River. You may call the office of the Board of Taxation at 732-929-2008.”

Click here to learn how to appeal your recent tax assessment.

Phil Stilton Latest posts

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

Stilton's journalism follows established newsroom standards emphasizing accuracy, verification, fairness, and accountability. Every effort is made to verify information through official records and multiple reliable sources before publication. His reporting is intended to provide readers with timely, well-documented information that helps them understand the issues affecting their communities, while maintaining editorial independence from political parties, government agencies, advocacy organizations, and commercial interests.

Readers can submit story tips, corrections, public records, or media inquiries through the official Shore News Network website or its verified social media channels. Shore News Network welcomes corrections and updates when new information becomes available as part of its ongoing commitment to accurate and transparent journalism.