I would like to applaud Middletown Mayor Gerry Scharfenberger for his leadership in quickly acting to restore equitable property valuations that will save taxpayers millions next year.
The county ordered property tax revaluation that took place at the height of the real estate bubble has been hurting Middletown taxpayers for the last two years. The reassessment advocated by Scharfenberger will restore fiscal sanity while helping to improve the real estate market because it will help new buyers secure mortgages on properties that will no longer be overassessed.
Tax appeal refunds cost the town four times what it actually collects in taxes. This causes taxes to increase even more because money is seldom available in time to make such refunds, so the money needs to be borrowed and interest charges are incurred.
Mayor Scharfenberger moved quickly to begin a reassessment of all properties that would truly reflect realistic values in today’s market, thus staving off the specter of millions in refunds – with the already overburdened taxpayer again taking the hit.
Accolades to Gerry Scharfenberger – a good man, a good mayor and a good American – Always putting the taxpayer first!