tax appeal question (Montclair: home, assess, appraise)

[MontclairNative]

Does it matter how you allocate the requested reduction between land and building? Should it be same percent to both or just building. Land is land pretty much unless part of your argument is that you are in a bad location or have unusable land. Thanks

[TheGambler]

Originally Posted by MontclairNative

Does it matter how you allocate the requested reduction between land and building? Should it be same percent to both or just building. Land is land pretty much unless part of your argument is that you are in a bad location or have unusable land. Thanks

I would say the land is arguably more important, although this depends on the area. Usually, the land (in New Jersey) will be worth more than the improvements, unless you have a brand new McMansion built in a cheap area.

On what are you basing your appeal? You need to find comparable properties in the area that were sold before the end of 2010 in order to make a case that your home is over-assessed. If you go before your county tax board without that data, your case is going to be thrown out. Once you have all of that data, if you're still unsure why you are assessed more than the value of your home you should consult an appraiser. They're actually quite affordable.