Kavita - one can only hope!
Unfortunately, most everyone's home value has decreased over the past few years - in all towns.
The answer to your question may have to do with where in town you live, or what kind of structure you live in - , (for example, in other town re-evaluations , like Livingston, and most recently, Roseland, , many condo/townhome taxes went down - certain locations also affected the assessment and went down). On the other hand - some new assessments caused the taxes to increase, and some stayed pretty much the same.
Keep in mind that condition will aslo be factored into the new assessment - if you just put in a new kitchen, or finished a basement, that will be part of your new assessment. If you have put off doing major improvements - you might be happy you did!
Unfortunately, you wil just have to wait and see - but there is hope!
No one will argue the fact that the taxes in town do need to come down, as those higher taxes can certainly affect value.
The good news is - at least property taxes are still tax deductible!
Prudential NJ Properties