Cherry Hill Property Values Jump Under Revaluation

The average home in the township is now worth about $230,000.

Nineteen years makes a whole lot of difference when it comes to property values.

The average value of a home jumped by about $90,000 under Cherry Hill's recently completed township-wide revaluation, township officials said Thursday.

The average home had been assessed at roughly $140,000 under the old valuation, which was done in 1993. Now, it's about $230,000.

“Obviously, the market's changed a lot,” township spokeswoman Bridget Palmer said.

Homeowners are being notified of their new property values via letters from Professional Property Appraisers, which was in charge of the revaluation. One batch has already been sent out, with the next scheduled for Dec. 26; another four batches will be sent out over the coming weeks, Palmer said.

Included with the new value will be an estimate of each property's 2013 taxes, though township officials indicated the actual tax effects from the revaluation won't be felt until July of next year.

Questions about the new values can be directed to Professional Property Appraisers, which will hold individual consultations by appointment only at the Croft Farm Arts Center. To schedule an appointment, which are available Monday through Saturday, call Professional Property Appraisers at 800-410-5815.

Bryan Littel December 21, 2012 at 09:51 PM
Bear in mind, these are property values as compared to 1993. Any tax effects come from the budget, not the revaluation - it just equalizes property values.
Paul D December 21, 2012 at 11:18 PM
Here we go....get ready for huge tax increases in C/H from Cahn & Council. Won't happen immediately, but I bet the C/H school district loves this revaluation. Currently, 57 % of tax dollars go to the schools and it's really waste management at the top. Guess we can rely on that 2.0 % increase gap, but knowing how they work around that, let's wait and see what happens.
Bob G December 22, 2012 at 07:15 PM
BOB There was a successful tax revolt in the 60's or 70'. As I understand it, it was les by a lawyer. I hope someone will take the lead again
Bob G March 30, 2013 at 04:47 PM
When will the sheep of Cherry Hill stop voting to approve every budget and every ridicules improvement (see: fire palaces we didn't need a new library we didn't need to compete with the library of congress, teacher benefits, and money to fund more mediocre education. WHEN WHEN WHEN WILL an attorney take the lead for an agressive tax revolt as one did in the past
A Thomas June 19, 2013 at 12:25 AM
When reading the tax rates of much wealthier areas in PA and even North Jersey, we find that million dollar homes for sale have lower tax rates than many Cherry Hill homes with much lesser value that are also for sale. It seems that we must be extremely inefficient in our spending. Please Cherry Hill residents look at Data Universe see how much teachers are paid. There are grade school teachers with over $90,000 in salary per year (some may retire and draw a pension at 75%). Not bad for 180 days of work with summers off, and winter and spring breaks. Most of us can only dream of these perks, as we try to save for retirement from our earned income, and paying exorbitant taxes at the same time.


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