In a recent New Jersey Tax Court decision, Methode Electronics, Inc. v. Twp. Of Willingboro, the court ruled that the assessment of a contaminated piece of property, which was not developable and could not be developed in the foreseeable future, should be reduced to a nominal valuation. Methode involved an industrial property where printed circuit… Continue Reading
It is crucial for owners and other taxpayers of commercial, industrial, retail and other income producing properties to be on the lookout for the “Silent Killer” of tax appeals, commonly known as Chapter 91 requests. New Jersey law permits a municipality to request income and expense statements from owners of income producing properties on an… Continue Reading
Recently, the New Jersey Tax Court had an opportunity to review the issue of whether site improvements on vacant lots are subject to assessment by the local tax assessor.
Recently, the Appellate Division of the Superior Court of New Jersey affirmed a Tax Court decision which enforced a settlement and determined the amount of interest to be paid on the refund after a successful tax appeal. This blog will focus on the portion of the decision that discusses the interest component of the refund.
I previously wrote a blog discussing a case where the New Jersey Tax Court found that a contract purchaser who did not own the property on date the tax appeal was filed (March 29, 2012) did not have standing to file a tax appeal. As a result, the Tax Court dismissed the appeal. On July 3, 2013, the Appellate Division of the Superior Court of New Jersey reversed the Tax Court and held that the contract purchaser had standing to file the appeal and is entitled to proceed towards trial.
Marshall T. Kizner from Stark & Stark’s Bankruptcy and Creditor’s Rights Group authored the article, Commercial Property Taxes: Is Your Business Paying More Than Its Fair Share?, published on March 20, 2013 in US1 Newspaper.
Like most areas of the law, court decisions and new legislation impact the rights of property owners as they navigate the tax appeal system. Among the more notable changes that occurred in the later part of 2012 which will have an impact on tax appeals filed for 2013 are the following:
In a recent case, the Tax Court of New Jersey dismissed a property owners’ tax appeal for providing a false response to the Assessor’s request for income and expenses under N.J.S.A. 54:4-34 (Chapter 91 Request).
To appeal a property tax assessment in New Jersey, a property owner must file a written appeal no later than April 1, 2103, or May 1, 2103 if the town completed a reevaluation or reassessment. When landlords who lease on a triple-net basis receive their 2013 tax assessment card, do they need to worry about the tax assessment since their tenants are paying the taxes?
New Jersey adopted a law that may help property owners whose property was damaged by Hurricane Sandy. However, you need to act quickly to take advantage of the law.