2012 Tax Appeals – Don’t Miss the Deadline

Does your property’s assessment properly reflect the correct current market value? Chances are it doesn’t because of the continuing downward turn in real estate prices in our area.

If you haven’t already, you will receive a post card from your municipality telling you the assessment of your property. The only way to effectively reduce your local property tax, whether for your residential or commercial property, is by reducing the assessment the township has placed on your property. You have a limited time to appeal that assessment given by your municipality.  While the law presumes that the assessment is valid,  you have the right to challenge the assessment. That is done by filing an appeal with the County Board of Taxation.  Included in the appeal is a form to be filled out as well as a certification that it has been delivered to several municipal offices and the county office. Negotiations are usually had once an appeal is filed with the Municipal Assessor. In certain cases an appraiser is hired to provide an appraisal based upon recent comparable sales. The deadline for filing a tax appeal is April 1, 2012 and no extensions are granted.

Taxpayers may find the entire appeal process very challenging. That is where an attorney can assist in relieving the taxpayer of the stress and time associated with the appeal. In the past three years our firm has helped thousands of taxpayers, throughout Ocean County and Monmouth County, collectively obtain assessment reductions resulting in lessening their overall tax burden by over $1 million. Reducing an assessment in one year will provide a reduced assessment often for years to come because that assessment remains constant until the municipality reassesses the entire township. For instance, such revaluations did not occur until fifteen years after the prior one in Brick and Toms River.

Generally we work on a contingent fee, so that no fee is paid unless we successfully obtain a reduction in your taxes. While a reduction will benefit you for years to come our fee is only based upon the savings for the first year and is only a portion of that savings. The filing fee, depending upon the assessment of your property, is between $25 and $150. The filing of an appeal, the negotiations and possible hearing that takes places subsequently can be a difficult process for the lay person.

Hopefully our experience in the area of law can provide a service to you that will be financially meaningful. We are prepared to offer a free telephone consultation with any taxpayer who wants to find out more about the process and the possibilities of having their taxes reduced. We know that the past results we have obtained for our many clients does not guarantee future decisions. We hope though that you will find that our experience and knowledge will assist you in providing a beneficial outcome. Please remember that there is a deadline and the paperwork needs to be filed in the proper way and in a timely manner.

The deadline for filing a tax appeal is April 1, 2012 and no extensions are granted. Contact our offices to discuss your options.

For additional information you can visit our website.

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9 Robbins Street
Toms River, NJ 08753
732.797.1600
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