During the next several weeks, New Jersey real property taxpayers will receive their annual green postcards stating 2011 assessments for real estate tax purposes. The period to file a challenge to a 2011 assessment runs from February 1 to April 1, 2011. The April 1 deadline may, however, be adjusted to the later date of 45 days from the municipality’s bulk mailing of the green postcards.

It is the amount of the assessment—not the tax amount—that can be challenged. A taxpayer may be entitled to a reduction if the assessment (after applying the municipality’s equalization ratio) is more than 15 percent higher than the fair-market value as of the evaluation date, October 1, 2010. A prerequisite to filing an appeal is the payment of all real estate taxes and other municipal charges through the first quarter of 2011. In addition, failure to respond to a tax assessor’s prior request for income and expense information makes a tax appeal subject to dismissal, regardless of the appeal’s merits.

Assessments greater than $750,000 may be challenged directly by appeal to the Tax Court of New Jersey or filed with the applicable county board of taxation. Ballard Spahr attorneys are available to review the merits of New Jersey retail, office, industrial, and multifamily property assessment challenges. Please contact Jeffrey S. Beenstock, beenstock@ballardspahr.com or 856.761.3417; or Barbara A. Casey, caseyb@ballardspahr.com or 856.761.3430, for more information.


Copyright © 2011 by Ballard Spahr LLP.
(No claim to original U.S. government material.)

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.

This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.