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Because real estate taxes are the single largest building operating expense, this legal practice is focused on minimizing tax obligations and maximizing tax recovery in the following areas:
Commercial property
Industrial property
Multi Unit Residential (5 or more units)
Residential (1 to 4 units — taxes over $15,000 per year)
Declining municipal ratios coupled with fluctuating market values on different types of property have caused many New Jersey properties to be over assessed. During the first week of February you should receive your Notice of Property Tax Assessment. If it is determined that your property has been over assessed, an appeal must be filed by April 1st of each year.
In a booklet published by The American Homeowners Association, they write about the sources of errors in tax assessment: "Sheer volume alone would lead a reasonable person to conclude that errors would occur. In addition to the more than 65,000 governmental units with their own rules for assessing and collecting taxes, well over eighty million taxable properties are assessed annually. The complicated procedure of valuing those properties provides many other sources of error. These include:
Simple mistakes in mathematics
Errors in analyzing and interpreting market data
Making faulty comparisons with other property in the same area
Mistakes in assigning a property to a geographical taxing unit
Incorrect facts about individual properties, including physical parameters and changing marketing conditions
Our firm and practice knows you can't accept any of those reasons. You have a right to fair taxes.
