Many New Jersey property owners feel frustrated with their property tax assessments and the tax dollar amount. As a result, they want to appeal the property tax assessment but have no idea of the process and become frustrated even more. But the good news is that the property tax appeal process is not that difficult and all the information is available online for free. If you have the time, this can be a do- it- yourself task or you can hire a professional such as an appraiser or attorney for assistance. South Jersey Appraisal Associates, LLC offers appraisal and consultation services to help the property owner decide. Here are some answers to the most common questions I received this week as the NJ statewide deadline of April 1, 2019 is quickly approaching.
Can I use my neighbor’s assessment as a basis for my property tax appeal?
No. The tax assessor will not consider any property tax assessment from a neighbor’s property. The most similar comparable sales, either within the neighborhood or outside of the neighborhood, are the only acceptable evidence of market value for a property tax assessment appeal.
Do I need an attorney to petition for a New Jersey property tax assessment appeal?
In most cases, a property owner does not need to hire an attorney to file a property tax assessment appeal. New Jersey allows the property owner or representative of the property to petition the county board of taxation for an appeal. The property owner may prepare his/her own petition or seek the assistance of an attorney, if desired. If the property is in the name of a trust, corporation, or other legal entity, then the property owner must use an attorney.
When is the filing deadline for a New Jersey property tax assessment appeal for this year?
In most of New Jersey, the current filing deadline date is April 1, 2019. However, Monmouth and Gloucester Counties have an earlier filing deadline which is January 15, 2019.
Do I need an appraisal to file a New Jersey property tax assessment appeal?
No, a property owner may ask a real estate agent for help choosing comparable sales for his/her tax appeal or visit the municipal tax office for a list of closed sales that are available to the public. If the property owner chooses, he/she may seek the assistance of a local appraiser; however, if the property owner submits an appraisal as evidence of market value and there is a scheduled hearing, the appraiser must appear in court on behalf of the property owner at a specified. Both the appraisal and the appraiser’s appearance in the hearing require additional fees.
Will I have to attend a hearing for my NJ property tax assessment appeal?
Typically, the board of taxation assigns a hearing date for each petitioner. In some cases, the municipal tax assessor and property owner will agree to a new assessed value. In that case, the municipal tax assessor prepares a Stipulation of Settlement and there is no hearing necessary once it is approved by the county board of taxation. If the assessor does not offer a Stipulation of Settlement, then the property owner must attend a hearing to dispute the property assessment.
For more complete information, visit the NJ Division of Taxation website and South Jersey Appraisal Associates, LLC. Please feel free to call us at 609-214-8418 for a consultation on your property tax assessment.