I was responsible for setting up and presently maintain and contribute to this website. The website is intended to provide a wide variety of general background information relating to real estate tax appeals in New Jersey, among other items.
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Understanding The Importance Of Your Property Tax Assessment And Your Right To Appeal The Assessment If It Is Unfair
Since the annual real estate taxes billed by a municipal tax collector in New Jersey connection with a parcel of property are the direct product of the assessed valuation of the property, it is important to have the assessment properly reviewed each year to determine whether or not the assessment is accurate and fair based upon applicable law and relevant standards and criteria.
The review of the annual real estate tax assessment is particularly necessary when, like now, the economy is in a state of deep decline and property values are eroding and/or plummeting in many areas of the State. Such review will disclose, for example, whether or not the annual tax assessment is too high and should be appealed by the applicable deadline - which deadline is generally April 1st.
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Benefits Arisng From A Successful Real Estate Tax Appeal
A successful real estate tax appeal will cause a reduction of the annual assessment upon the property for the year under appeal - and also potentially for up to two (2) years following that year under New Jersey’s so-called “Freeze Act”. This, in turn, will result in reduced annual taxes on the property for such year(s); or, in other words, real tax savings to and for the party having the tax payment obligation.
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