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发帖数: 731 | 1 Just now, some students asked about property tax appeal. Here is what I
know, but you should consult with your tax accountant. If what I say
here
is wrong, please correct me.
To know if you are paying fairly or not, you need to compare your ratio
of
assessed value to market value against average ratio of your township.
If
your ratio is 15% higher or lower than the average, you are not paying
fairly, whereas in the former you get deduction and the latter you get
addition. My towm, for instance, has an average ratio of 52.06% for tax
year 2011 (call you township tax assessor/collector office to find out.
It
is public information). So if your property's assessed value to market
value is greater than 67.06% (52.06% +15%), you may then have a case to
appeal (Market
value is often defined as similar properties sold in last 6 months in
your
area and it has nothing to do with property purchase price). Remember
April
fools day is the deadline for appeal. Filing fee is $25 if your
property
worth $150K to $500K and $100 if your property worth $500K to $1M.
This link has more detailed information
http://www.state.nj.us/treasury/taxation/pdf/lpt/ptappeal.pdf |
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