We Can Make This Easy Or We Can Make This Hard…Guess We’ll Make It Harder

 

An article by Dave Sheingold in today’s Record highlights a trend regarding real estate tax appeals in New Jersey which we have seen develop in recent years, as the real estate market continues to be in flux and droves of property owners have tried to reduce expenses by filing property tax appeals.  The message from the towns is simple — don’t expect the road a reduced property tax assessment to be a simple or short one.

As Sheingold’s article mentions, New Jersey towns and municipal tax assessors are resisting the increasing volume of tax appeals by declaring more and more sales of property at “rock bottom” prices as being “non-usable”  sales which cannot be considered as comparable sales evidence in prosecuting a tax appeal.  In other words, even if your neighbor’s home sold for a low price, don’t expect that you will be able to easily rely upon that sale as a comparable sale in pursuing a tax appeal to lower your assessment, and beware of conditions which may cause the municipal authorities to claim that the sale does not represent an “arm’s length” transaction under normal market conditions.

…More at Property Tax Appeals in New Jersey – Increased Volume Meets Resistance

…More at 

Similar Articles

Assessing Your Assessemen... 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
Entering the Combat Zone ...   MyCentralJersey.com Assessment appeals — the hearing MyCentralJersey.com We've concluded that it is worth pursuing the appeal and are going forward. We filed our notice with the
Tax Appeals In New Provid... From The Independent Press: Among the issues the New Providence Borough Council discussed at its June 25 meeting was a multi-million dollar reassessment of a property in
Appeals In Garden State K... Used to be tax appeals by homeowner’s were a minority. No more. Each year tax assessors find themselves with an increasing number of appeals, as homeowner’s continue
Reassessments Causing Fur...   To ensure an equitable and fair redistribution of a tax levy – so that all property owners share the tax burden of the town equally –
Property Tax Appeals On T...     Despite property tax appeal buildup, there is hope for resolution NJBIZ Still, the court and tax attorneys point to the addition of new judges as
A Layman’s Knowledg...   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.
Legislation Would Advise ...   From: NJ Spotlight Letting Property Owners Know They Can Challenge Annual Tax Assessments NJ Spotlight The push to raise awareness for property tax appeals comes as
Deadline For Filing NJ Ta...   New Jersey Herald Deadline near for tax appeals New Jersey Herald As of last month, all homeowners were mailed the annual property record card showing their
Opt-Out For Towns Using P...   Asbury Park Press Monmouth Tax Board: Towns can opt out of pilot program Asbury Park Press For towns that stay in the pilot program, the Tax
Pilot Program AimsTo Cha...   From Lexis Nexis Law Communities: New Jersey Passes Law Affecting the Property Tax Assessment and Appeal Process On February 4, Gov. Chris Christie signed S1213 (the