BLOG: Property Tax Appeal
Two Week Warning! April 3 Tax Appeal Deadline Looming in New Jersey – Should You File an Appeal?
The annual filing deadline for 2023 property tax appeals in New Jersey is just around the corner – April 3, 2023 in most towns. That means there’s little time left to determine whether an appeal should be filed in an effort to reduce your tax assessment. Real property taxes are usually the second biggest expense... Read More
NJ Property Taxes Are Skyrocketing – What Else is New?
A recent report concluded the obvious – along with the cost of living, the average cost of a residential property tax bill in New Jersey increased in 2022 over the average cost in 2021. While the average increase was reported to be a little over 2%, making the average residential property tax bill nearly $9500/year,... Read More
Atlantic City Casinos at Center of Property Tax Dispute
This is a reminder that, in most NJ municipalities, the deadline to file a 2023 property tax appeal is fast approaching on April 3, 2023. If you believe you may be overassessed, contact us at info@mrod.law for a complimentary evaluation of your 2023 property tax assessment. Last year, a Superior Court judge struck down a... Read More
Ocean Grove Camp Meeting Association Exemption Upheld on Appeal
A 2021 decision by the Tax Court of New Jersey that granted a property tax exemption to a local religious organization in Monmouth County was recently affirmed by the Appellate Division in a reported per curiam opinion. The Township of Neptune had appealed the determination of the Tax Court granting an exemption to the Ocean... Read More
“Too Little, Too Late” – Appeal of $118,000,000 Assessment Dismissed as Untimely
Ouch. This is a huge reminder that, in most NJ towns, property tax appeals must be filed this year on or before April 3, 2023. And you better be on time! Last month, the Tax Court of New Jersey dismissed a commercial taxpayer’s appeal of a new assessment resulting from a municipal revaluation as being... Read More
Morristown Property Tax Revaluation Delayed to 2024
Morristown’s first property tax revaluation in nearly 20 years looks like it will have to wait yet another year to be completed. Delays in performing inspections of the properties are the principal reason for the delay in the revaluation, which had been ordered to take place by the Morris County Tax Board and was originally... Read More
Chatham Borough Residents Bracing for 2023 Property Tax Revaluation
Chatham Borough has commenced a State-ordered municipal property tax revaluation for the first time in nearly 20 years, and according to this recent article, residents have already started to express concern over the process and how it will impact their property tax bills. A revaluation program involves the mass appraisal and reassessment of all real... Read More
NEW JERSEY ANCHOR PROGRAM DEADLINE EXTENDED AND ELIGIBILITY EXPANDED
Back in June 2022, and again in September 2022, we informed you of a big change coming to the New Jersey property tax scene, the ANCHOR program (Affordable NJ Communities for Homeowners and Renters). Designed as a replacement to the Homestead Rebate Benefit program, ANCHOR officially kicked off in September with mailers being sent to... Read More
New Senate Bill Looks to Revise Personal Property Tax on Telecommunications Infrastructure
On October 17, 2022, State Senator Holly Schepisi introduced Bill S3209, a bill designed to revise the State’s Business Personal Property Tax as it is applied to telecommunications infrastructure. This bill, which is still pending before the Senate Community and Urban Affairs Committee, would remove some language from the current law which has been the... Read More
U.S. Tax Court Addresses Conservation Easement Valuation
Conservation Easement Valuation & The U.S. Tax Court On October 17, 2022, the United States Tax Court rendered a forty-three (43) page opinion in Champions Retreat Golf Founders, LLC, Riverwood Land, LLC Tax Matters Partner v. Commissioner of Internal Revenue (hereafter “Champions Retreat”) that established the valuation for the conservation easement that was donated in... Read More
