Filling out paperwork and jumping through legal hoops in order to get a tax appeal are routine tortures endured by most anyone who has ever attempted to appeal a tax assessment on their own. So, when someone offers, for a tiny fee, to do all the legwork for you, you can bet many homeowners will […]
Author: Peter Jordan
Due to a high number of tax appeals after a 2008 assessment, Lincoln Park recently completed its reassessment and noted a $149 million drop in value. In 2008, Lincoln Park was valued at $738 million; in 2009, it was valued at $1.576 billion. However, after the appeals went through, it was sliced down to $1.528 […]
New Jersey may tighten property tax cap Full story: Asbury Park Press Online Just two towns have ballot questions before voters today looking to exceed the 2 percent cap on increases in property tax levies, but two state lawmakers are nevertheless prepping bills that would tighten their financial leash a little further….More at New […]
Fair to say, if you are living in New Jersey, you are probably paying more property taxes than you should. The National Taxpayers Union, in fact, estimates that approximately 60% of all properties are currently overassessed. What makes this particularly shocking is that, since 2003, prices of median homes have declined dramatically. We would therefore […]
As municipalities continue being hammered with tax appeals, billions of dollars in revenue are being lost by the state. In 2011, muncipalities in New Jersey lost in excess of $3.8 billion dollars in their tax base due to reduced assessments – more than twice the amount in 2008. And with the housing not poised for […]
This recent case underscores the importance of not relying on the weight of a single comparable sale (in this case, the buyer’s), and why a sampling of at least three “arms-length” comparable sales is always needed. There will always be a seller willing — for a million reasons — to sell his or her home […]
When Christie became governor, New Jersey had the highest property taxes in the nation. Even if he were to serve two terms, we could still count on our state keeping that crown. The reason: spending. New Jersey splurges more than any other state on K-12 education, has more police per capita than any other state, […]
To ensure an equitable and fair redistribution of a tax levy – so that all property owners share the tax burden of the town equally – a town-wide revaluation is often undertaken. Every real property must be assessed by the same standards of value in New Jersey and must be assessed for taxation according […]
Homeowners I find will often make the often fatal mistake of using distressed sales as comparables, assuming this is allowable. What needs to be understood is that each comparable sale used must be what is referred to as an “arms-length transaction.” This would exclude sheriff sales, short sales, REOs (bank foreclosures) or sales between […]
The Tax Court in a recent unreported decision allowed evidence, including adjustments to comparable sales by a pro se taxpayer at trial. However, the case, Kula v. Township of Downe, provides a more important strategic lessons to municipal attorneys and tax assessors. Sometimes it is better not to put a case on at all. […]
NJ Property Tax Appeal
28 Kenneth Place
Clark, NJ 07066
Tel: (732) 910-1301
Fax: (908) 264-2132
Clark, NJ 07066
Tel: (732) 910-1301
Fax: (908) 264-2132
