Tax Assessment Appeal time!
The valuation date for tax assessment appeals is October 1.
Back in July, your got that green card in the mail with your new assessments for 2013. This is based upon your home value at October 1 2012.
Most often the assessment does not reflect 100% of your homes market value. It may be 50% or 150%, depeding upon the assessors equalization ratio, which changes almost every year, even though the assessment may not.
In other words, your TOTAL assessment of $400,000 may appear reasonable, but when the equalization ratio is applied, say 0.75, the market value is really $533,333 PER THE ASSESSOR.
You may file a tax assessment appeal from January 1 through April 1 2013.
Now it's time to defend your opinion of value against the assessor and the Tax Court.
Over the past several years more cases are settled without a court appearance, but it that happens, I have experience as an expert witness in Morris, Essex, Sussex and Union County tax courts as well.
Click on the "Assessment Appeal Services" button on the top of this page for more info.