From Press of Atlantic City: Atlantic City Council votes to borrow $102 million to settle tax-appeal debts By EMILY PREVITI Staff Writer pressofAtlanticCity.com …More at Press of Atlantic City
From Asbury Park Press: BARNEGAT — The township has lost more than $2 million from its coffers during the last five years due to property owners filing nearly 7,000 tax appeals to better align their home values with the struggling real estate market, according to officials…. More at Nearly 7000 tax appeals in Barnegat costs […]
From Registry News: Following a public hearing, an ordinance authorizing an emergency appropriation to update revaluations of property within the township, was approved unanimously by the Township Committee on July 25. ”We are under county order . . . to reassess the property value within Mansfield Township,” said Joseph Monzo, the municipality’s chief financial officer […]
A property owner attempted to file a tax appeal for the 2010 tax year with the Bergen County Board of Taxation on the April 1st filing deadline. The property owner's counsel hired a courier to deliver the filing to the Tax Board …More at Tax Appeal Filing Deadline Upheld Again | New Jersey Property Tax […]
From National Real Estate Investor: State governments desperate to feed municipal coffers are pushing more property tax appeals into litigation, and property owners are finding it difficult to win those battles. Experts advise owners to familiarize themselves with the Uniform Standards of Professional Appraisal Practice (USPAP), which may help them gain some leverage in court. […]
As witnessed in AC, as more commercial industries file assessment appeals, tax burdens will by necessity shift to residential homeowner's to compensate for resulting budget shortfalls. Will homeowners also experiences a curtailment of local services? That's almost guaranteed. From The Atlantic City Press: City Council agrees to lower Atlantic Club's assessed value by […]
South Brunswick Tax Appeals Continue to Rise Patch.com Nearly 400 tax appeals filed as township looks for ways to mitigate impact on the budget. By Davy James As property values continue to decline, tax appeals in South Brunswick have increased exponentially this year. In 2012, 391 tax appeals were filed … …More […]
LINK Third of a mil funding for four local libraries drop. (northjersey.com, 5/3/2012)… More at Drop in Property Values and Increase in Tax Appeals Impact New …
A total of 195 tax assessment appeals were filed this year by Lawrence Township property owners by the April 2 deadline, a record number for the township, according to a story published today by The Lawrence Ledger, ……More at Report: Record Number of Tax Appeals Filed This Year
Fair to say, if you are living in New Jersey, you are probably paying more property taxes than you should. The National Taxpayers Union, in fact, estimates that approximately 60% of all properties are currently overassessed. What makes this particularly shocking is that, since 2003, prices of median homes have declined dramatically. We would therefore […]