If your real estate property assessment is considerably higher than the market value of that property, you might want to consider appealing. You will need to hurry though. You should first get an idea of the difference between the assessed value and the market value. I suggest contacting a Realtor (hopefully me if you live in Hunterdon County or Warren County, NJ) who could provide you with comparables. Based on what you discover, it is suggested, but not required, that you get an appraisal by a certified appraiser for additional credibility, and again, if the difference is worthwhile to you, proceed to submitting a Petition of Appeal to the appropriate county tax board. If you have your property appraised you need to have the appraiser appear at the actual hearing to back up their findings and be questioned by the board. There are many websites and blogs regarding tax appeals which you might research for the details of appealing. Some of these are real estate tax attorney websites which contain excellent information and links. You can contact a real estate tax attorney or go it alone. Sometimes contacting the tax assessor for your municipality might even preclude filing an appeal. If the tax assessor agrees there is an unreasonableness to the assessment they could change the assessment. Whichever route you elect to go, it could mean hundreds or thousands of dollars in savings the first year and possibly over the near future. Good Luck!
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{ 2 comments… read them below or add one }
hi,
f you think that you are overpaying the taxe then you should appeal against it. if you found it difficult then you can hire an expert, they only charge you when you appeal is approved.
Very nice and helpful information has been given in this article. I like the way you explain the things. Keep posting. Thanks..
Thank you for the useful comments. I didn’t know that experts only charge when the appeal is approved.