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A Step-By-Step Help guide to Appealing New Jersey Property Taxes
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Publish-date-icon August 2, 2012
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The economical recession is responsible for most American properties to be devalued. Logically once the price of a property drops, the home tax should also drop correspondingly. However the truth is, it is not so. Well-known financial guru Suze Orman observed that the National Taxpayers Union reported that more than 1 / 2 of all American homes values were too high.

Knowing that the worth of your brand-new Jersey property has declined but you're not paying less taxes, then now is the time to take action to reduce your Nj property tax. Suze Orman suggested that you challenge the City Hall if you think you're overpaying an excessive amount of property tax.

Although the appeal process differs among local administrations around the country, you will find steps that any house owner may take to file for the official Nj tax appeal application.

Step 1

First, request for a review of your property's value. Obviously using the change in economic situation, your property's value has also changed and for that reason it have to be reviewed. Download the request form from the website of the local tax assessor. The form requires you to fill in your home's lot number (parcel number) that exist in your property tax bill.

Step two

Ask your local tax assessor for your home assessment rate since the property tax is dependant on it. The assessed value is not the just like the market value. In fact, the assessed value is generally a fraction of the market value.


Step three

Verify the accuracy of the description of your dwelling. Any mistakes could cause a high valuation. Scan through every field including the size all, the number of bedrooms, bathrooms and also the size of the house. You receive obtain a copy of your property record out of your local tax authority either from their office or website.

Step four

Now you have to complete some fact finding to build your defense. Discover the sales prices of homes that are much like yours. Look for homes in your area that were recently sold. These homes should be similar to yours when it comes to age, size, design and condition. If you fail to obtain the actual sale prices, search for the listed price.

Step five

Collection the sales prices of at least three homes. Make an evaluation of these three homes and yours. Therefore if your home's assessed value is higher, you could be overpaying your property tax. Once you have this information, email the tax assessor's office with one of these supporting evidence to attract them to decrease your property tax bill.

Step 6

Once you have filed your appeal, comply with the outcome every couple weeks. It might take many months before the assessor office complete the tax review. If they reject your home tax appeal nj, you possess the right to request a hearing in the tax court. If you're not satisfied, you can bring your case to as high as their state court.

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