A Careful Review of your 2017 Tax Assessment Could Save You Thousands on Real Estate Taxes

February 1, 2017

Towns are more aggressively than ever seeking opportunities to generate additional revenue through revaluations, reassessments, by taxing formerly exempt not-for-profit property and a recent phenomenon of filing affirmative appeals to increase their own assessments.

The State of New Jersey provides you with an opportunity to address your concern through the filing of a tax appeal. Provided you are an owner, tenant, contract purchaser or mortgagee in possession, you may have standing to file an appeal of your property tax assessment, but you only have until  April 1, 2017 (or May 1, 2017) in municipalities that are conducting revaluations or reassessments in 2017) to file a tax appeal. If the taxing district files an appeal against your property the filing of a timely Answer and/or Counterclaim (responsive pleading) may be appropriate.

If you fall into any of the following categories, you should carefully review whether to file an appeal or responsive pleading in 2017:

• You have received a complaint or petition to increase your taxes;
• You have reason to believe your taxes are too high or unfairly assessed;
• You are a formerly tax-exempt entity;
• You own commercial property with significant vacancies; and
• You own property in a municipality currently undergoing a reassessment/revaluation

Experience and responsiveness matters. If you would like an immediate no cost review of your tax assessment, please contact us.