Now that October is here, New Jersey municipal and county tax assessors begin review of real property tax assessment values and valuations for 2021, based on 2020 data. Understanding that we are still in the middle of the ongoing pandemic and subject to numerous Executive Orders, recent real estate assessment data will prove to be very interesting from an interpretation and application standpoint by assessors and appraisers alike. Whether commercial, industrial, retail, investment / income producing or residential, all real estate transactional data prior to October 1st can be relied upon for assessment review and analysis for adjustment. The assessment value will be noticed to the property owner after the new year, typcailly in late January. This same real estate data can also serve as support and legal evidence for all tax assessment appeals at the County Board of Taxation or the State of New Jersey Tax Court seeking to reduce your property 2021 assessment value. Call us at 856.428.5577 to discuss your property assessment and about reducing your real estate taxes.
DiMedio Law is a New Jersey Business & Real Estate Law Firm whose practice includes tax, land use and planning matters