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Tax Appeals

Oct. 30, 2015

In the State of New Jersey, the filing deadline for Municipal Tax Appeals is April 1. The date is rapidly approaching.

A property owner can only appeal the Assessment for the subject property set by the Municipality.

You cannot appeal your taxes and you cannot appeal the town tax rate. You can, however, contest the Assessment by proving that the town is valuing your property too high. The relevant date of valuation is the prior October 1. This means that you must prove the value of your property as it was last October 1. A property owner can bring in a licensed NJ appraiser with a written appraisal report as proof of the value of the property. The property owner can also utilize recent comparable sales in the neighborhood.

Many recent comparable sales are not permitted if they were foreclosed properties, bank owned properties, or other transactions that are deemed to be arms length transactions.

It is best to hire a Real Estate professional to handle the tax appeal for you so that you did not lose on a technicality. Anyone planning to do so, however, must now act fast as April 1 is approaching.