What does a tax appeal review look like?

It’s time to review your property’s assessment for a tax appeal. What does that process look like?

Because it’s the taxpayer’s job to prove that the tax assessment is too high, we’re looking to see if there is evidence of over-assessment. In other words, could you sell your property for what the tax assessor says it’s worth?

Residential property is usually valued by comparing your home with others that have sold recently, so we usually just ask for the property address. However, if you recently purchased your home, or if you know that a home (or homes) similar to yours sold in your area recently, or if you’ve had the property appraised recently, providing that information can help smooth the review process.

For a commercial property, we look at the income from the property. Not business income - rental income. So, if you own a retail building office building, warehouse or apartment complex, we’ll look at rent rolls and income and expense statements to see if the income supports a reduction.

For either property type, we’ll then review the data and let you know if we think a tax appeal makes sense for that property.

Remember - the goal of a tax appeal is to save money. No one want to waste time and money on an appeal if you can’t prove your assessment is too high.

Don’t forget, the filing deadline for a property tax appeal in most of New Jersey is April 1. For reassessment and revaluation districts, the deadline is May 1. In Monmouth County, appeals on assessments $1,000,000 or less (including on properties assessed at exactly $1,000,000) must be filed by January 15, as must any appeals the taxpayer wants to go before the county tax board. The deadline to file appeals on properties in Monmouth County assessed at $1,000,001 or higher in the Tax Court is April 1.