Category Archives: Real Estate Tax Appeals

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Court May Consider Environmental Contamination of Property in Assessing True Market Value Even When Property Generates Income and is Used by Tax Payer

Posted in Real Estate Tax Appeals

In a recent New Jersey Tax Court decision, ACP Partnership v. Garwood Borough, the court ruled that it will permit consideration of a property’s environmental contamination in deciding its true market value even though the property possesses a “value in use” to the tax payer. The case is significant because it rebuts the notion that… Continue Reading

Hamilton Township Revaluation Update: Values to be Mailed to Property Owners in January 2016

Posted in Real Estate Tax Appeals

Hamilton Township (Mercer County) is completing the revaluation of all properties in the Township and expects to advise property owners of their new assessments in January 2016. By now, each property owner should have been contacted by Professional Property Appraisals, which is the revaluation company hired by Hamilton Township to perform the revaluation. Once each property… Continue Reading

Shareholders Timothy P. Duggan & Jeffrey M. Hall Hold Two Presentations

Posted in Condemnation & Eminent Domain, Real Estate Tax Appeals, Stark Events

This past week, Timothy P. Duggan, Chair of Stark & Stark’s Bankruptcy & Creditors’ Rights, Tax Appeals, and Eminent Domain Groups, held two presentations for the Mercer County Bar Association and the New Jersey State Bar Association. Mr. Duggan’s first presentation was collaborated with fellow Shareholder Jeffrey M. Hall, member of the Eminent Domain Group,… Continue Reading

Income Approach to Valuation – Why Use Market Rent for Tax Appeals?

Posted in Real Estate Tax Appeals

When valuing industrial, commercial or retail real estate, New Jersey tax assessors are required to value the “unencumbered fee simple interest” of the real estate. This concept often confuses property owners who capitalize the existing leases to show a property is overassessed. In layman terms, what does this all mean? The cornerstone of New Jersey’s real… Continue Reading

Tax Liability of Environmentally Contaminated Industrial Property – 2015 Update

Posted in Real Estate Tax Appeals

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

Tax Appeals: The Silent Killer

Posted in Real Estate Tax Appeals

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