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As witnessed in AC, as more commercial industries file assessment appeals, tax burdens will by necessity shift to residential homeowner's to compensate for resulting budget shortfalls. Will homeowners also experiences a curtailment of local services? That's almost guaranteed. From The Atlantic City Press:
City Council agrees to lower Atlantic Club's assessed value by $378 million
Press of Atlantic City That brings Atlantic City's ratable base down to $17.7 billion from $20.4 billion, a drop during the past year or so of $2.7 billion, or 13 percent, due to tax appeals. As a result, other property owners will pay a higher proportion of the tax levy … Can Revel Save Atlantic City?
…More at City Council agrees to lower Atlantic Club's assessed value by $378 million – Press of Atlantic City
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Here are some other tax appeal sites I found for you to browse. Thanks for visiting njpropertytaxappeal.net.
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AC Casino Tax Appeals To Increase Residential Tax
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Note appeal date is extended to April 23 - date on back of card is ...