6 events in Passaic County with a date

How Homeowners Can Appeal Tax Assessments

By: Albina Sportelli
NorthJersey.com
USA Today Network - New Jersey

..... Think your property tax bill is too high due to a tax assessment mistake? if so, you can appeal it - not the bill, but the specific assessment. New Jersey homeowners cannot directly appeal property tax bills, but they may appeal their property tax assessment, or the value the municipality has placed on the home for tax purposes. If that assessment is too high, it could lead to a large tax bill than the homeowner believes is fair.

..... A property tax assessment is essentially the municipality's estimate of what a property is worth on the market as of October 1 of the year before taxes are due, according to the New Jersey Treasury Division of Taxation. Your actual tax bill is then calculated using that assessment along with local tax rates. in other words, the assessment helps determine the bill, but it is not the same thing as the local tax rates.

..... Though the tax bill itself cannot be challenged, the assessed value can be appealed if a homeowner beehives it does not accurately reflect market value or is unfair compared with similar properties.

..... We reviewed the stater's Division of Taxation information, and in order to succeed in a tax appeal, homeowners need evidence showing that the assessment is inaccurate. That often includes recent sales of similar homes, photographs, appraisals or other documentation. Comparable home sales should generally come from before the October 1 assessment date, because the county tax board looks at the property's value at that point in time.

..... Most tax appeals in New Jersey must be filed by April 1, although towns that recently completed a revaluation or reassessment have a May 1 deadline. Burlington, Gloucester and Monmouth counties follow a different schedule andrequre appels to be filed by Janaury 15. Hearings are usually held within a few months after the filing deadline.

..... Homeowners are encouraged to attend there hearings, because failing to appear could result in the appeal being dismissed. If the appeal is successful, the reduced assessment is generally protected for the current year and the following two years under what is know as the "Freeze Act," unless the property changes significantly or the town conducts another reassessment.

..... Most information and forms to process with an appeal can be found on the state's website at: nj.gov/treasury/taxationlpt/lpt-appeal.shtml .

HOME