A renewed debate over property tax equity is unfolding in Margate and Ventnor. Commentary this week argued that without timely citywide revaluations, long-time owners with older assessments can pay proportionally less than recent buyers, shifting burden within the tax base. Some voices even suggested a consistent, county-wide cadence so all shore towns stay current. Primary keyword: Margate property tax revaluation.

What a revaluation does

A revaluation resets assessed values to reflect market conditions town-wide. It does not change the total amount a municipality raises; it redistributes the levy based on updated assessments. In fast-moving markets with teardowns and rebuilds, gaps grow between assessed and market values—fueling calls for periodic resets.

Local specifics raised this week:

• Focus towns: Margate and Ventnor.

• Issue: assessment drift creating fairness concerns between long-time owners and newer buyers.

• Idea surfaced: explore more regularized or broader reval schedules to keep pace.
  
  

How this hits homeowners

If your assessment lags behind market reality, your tax share can be lower than a neighbor’s newer home even if market values are similar. After a reval, some bills go up, others down, but the levy target remains set by budgets—not by the revaluation itself.

Real estate lens

For buyers comparing Margate to Ventnor, the timing of a reval affects carrying-cost planning. Lenders underwrite taxes; investors weigh net yields; second-home buyers compare HOA-like costs across towns. Transparency around assessment drift and schedules helps everyone forecast.

Micro-FAQ

• Will a reval raise everyone’s taxes? No. It redistributes shares; totals follow adopted budgets.

• How often do towns reval? Cadence varies by municipality and state guidance.

• What can owners do now? Review your assessment card and monitor official notices about reval timelines.
  
  

Sources: Downbeach Buzz.