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STONE HARBOR - A year after a borough-wide reevaluation added $363 million to the cumulative assessed property values in Stone Harbor, the natural growth in assessed valuation continues to grow through new home construction.

At the Borough Council work session Feb. 5, Tax Assessor Margaret Slavin informed council that the borough’s valuation at the start of 2019 was $22.5 million higher than 2018. That brought the assessed property values for the borough to $4.85 billion. Slavin added that the ratio of assessed to true value shows assessed values to be 1.04 percent higher than true market values. 

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