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NJ Property Tax Appeal: What You Need to Know

Considering a NJ Property Tax Appeal? Here is some important information to consider and some important deadlines.

In New Jersey, two factors determine your tax bill: the taxable value of your home and the tax rate or the percentage of the taxable value that the local tax authorities use to compute your property tax.

With an effective tax rate of 2.31%, New Jersey ranks the highest in property sales tax in the United States. It is understandable that some homeowners would like to take a closer look at their property sales tax to see if they can possibly appeal their rate. In order to increase your understanding, we will show you how to accomplish this through a step-by-step process outlined below.

If you have investigated your tax assessment and determined that the tax assessor has placed too high a taxable value on your home, which would increase the property taxes, you can appeal. But keep in mind that the deadline for any property tax appeal is in April.

To begin your Property Tax Investigation:

  1. At the beginning of every year, you will receive the property tax assessment card in the mail from your local municipality. If you have not received or misplaced it, you can contact your local or county tax assessor and request a copy of the card that details your assessment.
  2. Review any information listed for accuracy. All facts, including square footage, rooms, decks, etc., must be correct. Be thorough!
  3. Compare properties in your neighborhood by looking at real estate listings for property value comparisons. You can also look at the tax records at town hall or the county tax office. Remember, your home’s value determines the taxes on your home.

If there are any errors, contact your local tax assessor for a possible reassessment.

However, if you decide to appeal your property tax assessment, below are some documents you will need:

  • a recent appraisal of your home
  • a contractor’s report showing repair work needed on your home and how much the work will cost
  • documents showing actual sales prices in your neighborhood
  • photographs of homes similar to yours together with a list of their sales prices or taxable values

The process is a quick one, but it can be intimidating and overwhelming. The best advice is to speak with a qualified property tax attorney in your area. The attorney will be able to explain the process thoroughly and provide you with helpful appeals process information.

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