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Old 09-06-2010, 07:47 AM
 
532 posts, read 1,461,119 times
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Does anyone have any info on a NJ Commercial property tax appeal ?

I know it is partially based on the income and expenses of the property.

What other factors come into play and what do you use as a basis for the appeal?

I know how residential appeals work. With commercial property what do you use for comps,or are you comparing cap rates of similar properties or lot size ,or maybe a little of both?


Thanks in advance.
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Old 09-08-2010, 06:44 PM
 
532 posts, read 1,461,119 times
Reputation: 465
No one has any info I guess.

Not surprising because this was one of the few topics I googled and came up with almost nothing!
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Old 09-12-2010, 07:50 PM
 
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You need a lawyer. You can always represent yourself, but in the case of commercial assessments, that is a very foolish thing to do. A lawyer who specializes in property tax appeals will help you to determine which approach to use. If you don't know of any such lawyer, go to your local County Board of Taxation and ask to review the tax appeal judgments for the past year. At least 90% of the appeals will have the name of the lawyer who handled it. When you do this, you will see just a very few - probably less than 10 unless you live in Essex or Hudson - who represented successful appeals. That is the list that you will choose from. Go for the one who has represented commercial properties.
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Old 09-18-2010, 09:39 AM
 
532 posts, read 1,461,119 times
Reputation: 465
Great advice.
Thanks
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