By David Madden
Philadelphia (CBS) – If you own a home in New Jersey, you have or soon will receive that green postcard indicating the tax assessed value of the property. Don’t like it? You can appeal and a lot more have in recent years.
It’s been a steady trend over the past four years, according to real estate tax attorney Mark Shapiro (photo) with the Hyland Levin law firm in Marlton.
“In 2008 in New Jersey, 21,600 residential appeals were filed. In 2011, that 21,600 number is now 69,500.”
He believes those numbers have topped out although he’s had that assumption before and been proven wrong. You have until early April to appeal your assessment but keep this in mind. Unless it’s off by at least 15 percent, it won’t be changed.
So check out the values of homes like yours in the neighborhood. Why? Some appealed only to discover their homes were under assessed, and their tax bills went up, not down.
For more information, click here Summary of Property Tax Appeals.