BLOG: Property Tax Appeal
N.J. Appellate Court: Third-Party Tax Appeals Are Not “an Issue of Public Interest”
Last month, the N.J. Appellate Division decided a case involving the constitutionality of a newly amended statue that eliminates third-party appeals of tax assessments and a property’s tax-exempt status. In particular, the statute in question, N.J.S.A. 54:3-21(a), prohibits a taxpayer from appealing the tax-exempt status or assessment of property they do not own to the... Read More
Property Tax Caps Considered Across America
Recent sustained increases in the values of single family homes across much of the country have caused some states to consider imposing limits on the ability of local government agencies to raise property taxes to reflect higher values. While homeowners have enjoyed likely increases in the equity of their homes, combined with a high likelihood... Read More
Commercial Property Tax Implications in a Cooling Industrial Market
The industrial market, once a hotbed of activity and growth, is experiencing a notable cooling trend. This shift is primarily due to a combination of rising interest rates, decreased demand, and maturing leases and debt. Understanding the commercial property tax implications of this cooling industrial market is crucial for property owners and tenants alike. As... Read More
Morristown Property Tax Revaluation – 2023 Letters Were “Wrong”, New Ones Coming Soon
Morristown’s first real property tax revaluation in approximately 20 years is underway and scheduled to be completed this year. Our prior blog post on this topic from early 2023 discussed the process that is now occurring and confirmed that the revaluation, originally set for 2022, had experienced delays for a variety of reasons: Morristown Property... Read More
Jersey City: More Property Tax Refunds Means More Reverse Appeals
There is good news and bad news for Jersey City taxpayers. The good news first: Many taxpayers in Jersey City have successfully appealed their tax assessments (contact us for more details), thus rightfully receiving refunds on their over-assessed properties. So much so that a whopping $21 million... Read More
Illinois Falls in Line With Kirby Forest and Reverses Big Tax Refund
The Illinois Supreme Court filed an opinion on September 21, 2023 in MB Financial Bank v. Brophy (opinion here). In 2018, the property owner filed a complaint seeking a refund for overpayment of taxes on the low-income apartment building known as Evergreen Terrace it operated in Chicago. The property owner claimed that it had... Read More
UPDATE To STAY NJ – We Shall See In January 2026!
Back in June, we blogged about the early rumblings of a bill to be passed which would increase property tax savings to Seniors living in New Jersey. Billed as “Stay NJ”, it was purported that Senior homeowners and renters (aged 65 and older) could see reductions in their property tax bills up to $6,500 for... Read More
The City of Newark to Perform its First Property Revaluation Since 2013
The City of Newark, New Jersey on July 19, 2023 passed an Ordinance for a Special Emergency Revaluation. This will be the City’s first property tax revaluation since 2013. This revaluation has not been officially scheduled but has a targeted completion date of sometime during or before the 2027 tax year. This deadline was made... Read More
Real Estate Tax Appeal: Key Differences from Eminent Domain
The real estate tax appeal process can ultimately lead to reduced tax burdens for New Jersey property owners…that is the good news, and our firm specializes in representing property owners across N.J. in those types of cases. However, unique situations may arise during a tax appeal that can pose a dilemma for owners. One such... Read More
NJ’s Senior Homeowners and Renters Could See Reduced Property Tax Bills
New Jersey Governor Murphy and state legislators have purportedly reached an agreement to enact a bill to help New Jersey’s seniors stay in New Jersey. Legislators proposed a bill titled “StayNJ Act” which would effectively cut property tax bills for homeowners and renters ages 65 and older starting in 2026. The bill was introduced by... Read More
