Property-Tax-Appeals

Property Tax Appeals

Property tax appeals in New Jersey are governed by New Jersey Statutes, Title 54 Taxation. Appeals for any property (residential, commercial, agricultural and industrial) with an assessment that exceeds $1,000,000 have the option of filing with the County Board of Taxation or directly to the New Jersey Tax Court. Properties assessed at less than $1,000,000 are required to first file an appeal with the County Board of Taxation. Following an unfavorable ruling, an appeal of the Board's judgment can then be filed with the Tax Court who will provide a review of the Board's decision. The filing deadline for appeals before a County Board of Taxation or the Tax Court is April 1st of each year.

Generally speaking, a property owner who can prove that their "true value" of property is more than 15% over that municipality's average ratio is per se entitled to a reduction. The average ratios for all New Jersey municipalities can now be found online. For example, an Englewood property assessed at $800,000 would need to prove a market value of approximately $710,000 or below to argue for a reduction. Evidence of market value is usually established through the preparation of an appraisal and testimony of an appraiser in order to rebut the municipality's assessment.

The Taylor Law Firm is thoroughly prepared to help owners through the property tax season. We partner with experienced appraisers ready to assist any owner, no matter the property type, in establishing a "true value" that will result in lowering assessments and taxes. Contact us to schedule an appointment for a no cost analysis of your particular situation.