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If you live in a town in New Jersey that is having a revalution, the deadline to file your appeal in May 1, 2009.When a town performs a municipal revaluation, the assessment is at 100% of market value. The date of valuation is October 1, 2008. A property owner has the right to challange the assessor's valuation by filing an appeal by May 1, 2009. The appeal must be in the office of the County Tax Board or the office of the Administrator of the New Jersey Tax Court located in in Trent... Read Full Story
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Tax assessment cards are now in the mail.Pursuant to N.J.S.A. 54:4-38.1, every municipal tax assessor, prior to February 1, shall provide, by mail, each taxpayer with the current assessment on the taxpayer’s property and the property taxes that were levied on the property the preceding year. Thereafter, the assessor or county board of taxation shall notify each taxpayer by mail within 30 days of any change to the assessment.Accordingly, all property owners should now be on the lookout for the... Read Full Story
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A Letter from New Jersey Senator Robert Singer (R-30) and New Jersey Senate Republican Leader Tom Kean (R-21) was recently sent to New Jersey Governor Jon Corzine which urged a state-wide reassessment of homes. At first blush, such a proposal seems to violate the New Jersey Constitution's Uniformity Clause (art. VIII, sec. 1, para. 1(a)), as the proposal would irrationally treat residential and commercial properties differently. Nonetheless, it is a novel concept and one that only under... Read Full Story
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The New Jersey Department of Taxation released the Winter 2008 Quarterly Newsletter this morning. This publication provides a general overview of recent legislation, case law, and administrative policies pertaining to property tax appeals, gross income taxes, sales taxes and the corporate business tax. Of particular note to readers of this blog, are the changes that were enacted on December 18, 2008 to the Property Tax Reimbursement Program (“PTRB”). The recent change to the PTRB raises the... Read Full Story
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The Tax Court of New Jersey recently issued a published opinion, Thirty Mazel et al v. City of East Orange, in which it reconciled the Appellate Division opinion Alfred Conhagen, Inc. v. Borough of South Plainfield, 16 N.J. Tax 470 (1997), with the recent Appellate Division opinion H.J. Bailey Co. v. Township of Neptune, 399 N.J. Super 381 (App. Div. 2008). Both of these Appellate Division opinions concerned N.J.S.A. 54:4-34, which is commonly known as "Chapter 91," and the applicat... Read Full Story
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Residents who reside in three New Jersey Counties pay more in real estate taxes as a percentage of homeowner median income than residents of any other county in the United States. Specifically, residents who reside in Passaic County, N.J. pay on average 8.5% of their income in real estate taxes. Close behind are the residents who reside in Union County, N.J. and Essex County, N.J. who pay on average 8.1% of their income in property taxes.Given that real estate values have fallen drastically i... Read Full Story
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New Jersey property taxes were mentioned throughout Governor Corzine’s State of the State Speech yesterday. One of the first points the governor noted was how, under his administration, an additional 70,000 senior households are now afforded the protections of the Senior Freeze Act. The governor also noted how he is recommending that municipalities be afforded the option of forgoing pension payments in order to avoid budget cap waivers. According to the governor, allowing municipalities to a... Read Full Story
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A developer building at the Penisula at Bayonne Harbor purchased a tract of land in 2007 for $18.5 million. Despite this, the City of Bayonne is taxing the vacant tract of land as if the property is worth a little over $23 million. As a result, the developer must now pay $568,000 in property taxes instead of $424,000. But that's not all, the tract of land was granted a 30-year tax abatement by Bayonne last March. Unfortunately for the developer, the abatement agreement is structured so th... Read Full Story
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Reversing the Tax Court of New Jersey, the Appellate Division on Wednesday adopted the New Jersey Industrial Site Recovery Act (“ISRA”) as the cornerstone in determining whether a tax assessor should value a property by taking into account environmental cleanup costs. As stated by the Appellate Division in Pan Chemical Corp. v. Hawthorne Borough: “The degree to which a property is ‘in use’ or ‘closed down’ cannot be left to subjective standards resulting in inconsistent determinations. ISR... Read Full Story
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On December 31, 2008 the New Jersey Appellate Division affirmed Chabad of Randolph, Inc. v. Township of Randolph, a case that I have been deeply involved with as counsel for the plaintiff. As a result of this decision, a religious organization will not have to pay property taxes on the property used as a residence by the religious organization's rabbi.This matter started on October 1, 2005, after the defendant, the Township of Randolph, denied the plaintiff, the Chabad of Randolph, a pars... Read Full Story
