• New Property Tax Legislation in Effect Just in Time for April 1 Appeal Deadline
  • February 16, 2010 | Authors: Michael James Guerriero; Christopher John Stracco
  • Law Firm: Day Pitney LLP - Morristown Office
  • If you or your organization own or lease real property in New Jersey, you might be over assessed, especially in light of the sweeping economic downturn that is affecting real property values. A real property tax appeal can result in a favorable settlement for the taxpayer and reduce current and future taxes owed.

    The April 1, 2010, deadline to file an appeal is quickly approaching; contact us and we can quickly analyze your assessment and recommend the best course of action that may benefit your bottom line.

    Some recent legislative changes have affected the real property tax appeal process in New Jersey, one of which raised the assessed value threshold from $750,000 to $1 million for the appeal of an assessment directly to the Tax Court. The Legislation has also given tax assessors more freedom and less oversight when performing reassessments for portions of taxing districts and preparing compliance plans.