BLOG: Property Tax Appeal
“Faulty” Highest and Best Use Analysis Dooms Tax Appeal
In a recently published opinion, the New Jersey Tax Court reminded appraisers of the importance of the highest and best use analysis. The case, Clemente v. South Hackensack, involved a challenge to the property tax assessment for tax years 2009, 2010 and 2011 on a building which houses the Clemente Italian Bakery & Deli, a... Read More
Appellate Court: Contract Purchasers Have Standing to File Tax Appeal
The New Jersey Appellate Division reversed a Tax Court judge’s decision to dismiss a contract purchaser’s tax appeal because the purchaser was not the owner of the subject property at the time the appeal was filed. The property was under a contract of sale in December 2011 with an expected closing date of February 2012. ... Read More
NJ Supreme Court Erodes Special Benefits, Like the Dunes
This morning, the New Jersey Supreme Court has issued its much-anticipated decision in the dune replenishment case, Borough of Harvey Cedars v. Karan, which was argued this May. A copy of the decision is available here. This opinion is hot off the press and we are reading it now, but the Court has reversed the... Read More
Government Can’t Make Developers "Show Them the Money"
Big Win For Property Rights in US Supreme Court Yesterday, the United State Supreme Court issued a decision which has caused property rights advocates and developers to rejoice, and is likely to become a historic property rights precedent for years to come. The 5-4 decision in Koontz v. St. Johns River Water Mgmt District, No. 11-1447 (copy... Read More
Jersey City Revaluation Imperiled?
Jersey City Mayor-elect Steven Fulop has announced that the city-wide property revaluation has been halted, and warned that an audit of the revaluation company hired by the prior administration may be performed because of alleged ties to a former city business administrator. Fulop’s campaign had impugned outgoing Mayor Jeremiah Healy for ordering the revaluation, suggesting... Read More
Eminent Domain Reform Bill Passed by NJ Senate
Yesterday, the New Jersey State Senate approved a bill which codifies restrictions of local governments’ use of eminent domain for private redevelopment and creates an alternative to condemnation for future redevelopment projects. The legislation, S-2447, passed on a vote of 36-1, affirms the protections afforded to property owners in redevelopment areas by New Jersey’s courts... Read More
Ailing Seller Not Considered Arms’ Length Sale Participant for Comparable Sales Analysis
The Appellate Division of the New Jersey Superior Court recently affirmed the decision of a Tax Court judge which held that a subject sale was not an arms’ length sale because the seller was ill and accepted the first offer made by the buyer. Following a trial on the issue of valuation, the Tax Court... Read More
85,257 Reasons Why Municipalities Should Pay Tax Refunds On Time
In Faber Brothers Inc. of New Jersey v. Borough of Paramus, the court considered a Motion to Enforce Settlement Agreement, Compel Payment of Refund and Interest. This motion arose in tax appeals contesting the assessments for the tax years 2009 through 2011. The parties reached a settlement agreement and filed a Stipulation of Settlement with... Read More
NJ Senate Committee Advances Eminent Domain/Redevelopment Bill
Yesterday the Budget Committee of the New Jersey State Senate favorably reviewed and recommended approval of legislation that would codify important restrictions on the use of eminent domain in local redevelopment projects, and also would provide municipalities with the opportunity to undertake redevelopment projects without using eminent domain. The bill, S-2447, mirrors companion legislation (A-3615)... Read More
State Licensing Important for Establishing “Completion” Date for Exempt Property
The New Jersey Tax Court recently invalidated added assessments on newly constructed properties in West Orange used to provide residential care for the elderly. The plaintiff Green Hill, Inc., is a New Jersey not-for-profit that provides care to aged citizens. Since 1965, it owned a tax-exempt five acre lot with one building, and a neighboring... Read More
