OCEAN COUNTY OFFICE
Fighting Unfair New Jersey Property Tax Assessments
Seasoned Real Estate Tax Appeals Attorneys Navigating the Tax Assessment Appeal Process for Success in Ocean and Monmouth County NJ
Property taxes are frequently assumed to be unchangeable. The state tells you what it believes your property is worth, and you pay your property tax based on their calculation. However, property values can change over time, and a tax assessor’s evaluation may be inaccurate, leaving you with an inflated tax bill that does not reflect your home’s actual value. Over-assessment, discrimination, changes in property values in the area, and exemptions or deductions can impact your property taxes. If there is an overage, you can appeal and request that your property taxes be lowered. Bronzino Law Firm’s team of highly equipped attorneys has in-depth knowledge of property tax appeals and how to ensure a seamless, successful process when seeking to reduce your real estate taxes through appeal in New Jersey. We serve clients in Ocean & Monmouth County communities such as Sea Bright, Brick, Lacey, Point Pleasant, Rumson, Red Bank, Asbury Park, Long Branch, Manasquan, Bayhead, Toms River, and Mantoloking. Contact us at (732) 812-3102 for a free consultation.
Valid Reasons to Contest Your New Jersey Property Tax Bill
1. Inaccurate Assessments
Over-assessment can happen under many circumstances. A property’s value can be overestimated when the assessor views the market as active when it has slowed down considerably. The previous assessment may have occurred when there was a mall and several shopping centers nearby, which have since closed. When the assessor improperly estimates the value of a property by comparing it to newer homes or properties with better upgrades, the property value can be skewed. There are times when the information regarding the property is incorrect, such as the square footage or non-existent features such as a pool.
2. Discrimination in Assessments
Discrimination is another issue. Suppose assessors use comps that don’t reflect the actual characteristics of a property. In that case, they may assign higher or lower values than warranted. For example, one home might be compared to luxury properties, while a similar home is compared to standard ones. Properties in wealthier communities may be undervalued in comparison to those in less affluent areas. According to a recent study by Indiana University, property assessments for white homeowners are often closer to the house’s market value. In contrast, black homeowners pay more property taxes because their homes are overvalued.
3. Factors Affecting Property Value
Some events can cause a change in property value, such as structural damage, outdated electrical or plumbing systems, poor energy efficiency, and outdated floor plans or designs. Zoning changes and increased neighborhood crime rates affect property value. Market conditions such as higher interest rates, an oversupply of houses, or a recession can bring property values down.
4. Property Tax Relief Programs
Many homeowners are unaware of the exemptions and deductions they may be eligible to claim. The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program provides cash assistance to residents whose gross income is less than $250,000. Amounts range from $500 to $1,750 depending on need. The Senior Freeze program is for seniors 65 years of age or older who receive Social Security disability payments and whose income is $150,000 or less. Financial assistance is given based on the income amount and taxes to be paid. Senior citizens, veterans, active duty military personnel, disabled veterans, and those who receive disability benefits qualify for tax deductions, which range from $250 to 100% of their tax bill.
Property Tax Appeal Timeline in NJ
Filing for an appeal of your property taxes is no walk in the park. You must follow all guidelines, or your appeal will not be processed. You start by filing with the County Tax Board on or before April 1st or within 45 days of receiving the notice that lists the amount for which your property was assessed. If you live in Burlington, Gloucester, or Monmouth County, the deadline is January 15th. A deadline of May 1st is set for homeowners who will complete the assessments at the municipal level. Once the appeal is submitted, a hearing will be conducted in May through July with the County Tax Board. Properties with an assessed value of $1 million or have an omitted assessment over $750,000 are eligible for a direct appeal with the New Jersey Tax Court.
A filing fee ranging from $5 to $150, based on the property’s value, must be paid with the filing of the appeal. Evidence to support your case must be submitted to the County Tax Board and the tax assessor no less than seven days before the assessment hearing. You can move to the New Jersey Tax Court if the County Board of Taxation does not grant your appeal. Your appeal must be submitted within 45 days of the County Tax Board’s decision. In either case, it is critical to present evidence demonstrating the overage in taxes you have been charged.
How to Support Your Property Tax Assessment Appeal with Evidence in NJ
The property owner hires a real estate professional to inform the court of the reasons for the appeal. The most frequent evidence presented is comparable housing values in the taxpayer’s area or a miscalculation of the size and features of the property. Real estate professionals and appraisers are excellent sources of supportive testimony. Comparisons with nearby houses similar to yours, photos, private appraisals, and property assessment records that show mistakes regarding the size or features of your home are excellent sources of evidence.
In preparation for your case, besides expert witnesses and photos, a 12-month history of comparable houses sold in your neighborhood is also an important measurement of the value of your home. Additionally, presenting prior assessments of your home for tax purposes can be helpful if they haven’t changed over many years. Houses usually depreciate as they age unless renovations, additions, or a feature such as a pool have been added. Presenting your evidence means offering as much information as possible to make a clear case for your appeal.
Potential Outcomes of Appealing Your Property Taxes in New Jersey
A property tax appeal has several potential outcomes, but not all are favorable. If the appeal is successful and your property value is lowered, not only will you have a lower tax bill, you may receive a refund for overpaid taxes. Engaging in the appeal process can correct errors on your property record that will prevent further miscalculations. On the downside, after all of the time, work, and expense on your part in preparing and filing the appeal, you may not receive any change in your tax bill, or even worse, you may be required to pay more taxes after your property is reassessed more closely.
While having a lawyer represent you during this process isn’t required, deadlines, forms, and procedures can be confusing. Additionally, a lawyer can provide you with options and advice gained through their experiences with tax situations. Each case is different, and the basic information you receive from the county or state tax offices may not be enough to result in a successful appeal.
Contact Our Property Tax Assessment Appeal Lawyers to Make Sense of the Process and Build a Smart Strategy to Maximize Your Tax Savings in Brick and Sea Girt, NJ
Filing a property tax appeal in New Jersey can be daunting. There are varying deadlines and procedures according to your property’s characteristics. You need someone who is deeply familiar with the tax law and real estate law who will work for you to obtain a fair assessment of your property and possible savings on your tax bill. Despite the complexities and requirements for a property tax appeal, at the Bronzino Law Firm, we take great pride in our success rate in this area. We have access to expert witnesses, appraisers, and real estate professionals who can testify on your behalf. Our attorneys have represented our clients before the New Jersey Tax Court and the County Boards of Taxation and we are readily equipped to build a solid strategy when seeking to reduce your real estate taxes. We proudly serve clients in Howell, Brielle, Beachwood, Island Heights, Neptune, Brick, Toms River, Sea Bright, and throughout Ocean and Monmouth County, New Jersey. If you have questions or concerns regarding a possible overpayment of your property taxes and how to go about appealing the assessment, call us today at (732) 812-3102 or reach us online.
