Category: Chapter 91 Request
Property taxes can be complicated, and overassessments happen more often than most property owners realize. Whether you own a home, an apartment building, or a commercial property, understanding the appeal process is key to protecting your investments. In this post, we break down how assessments are determined, common mistakes that lead to overpayment, and what steps you can take if you believe your property has been overvalued.
County Board of Taxation vs. New Jersey Tax Court: Which Applies to You?
If you believe your property is over-assessed, deciding to appeal is only the first step. Before you can build a case, you need to know where that case belongs. New Jersey routes property tax appeals through two different forums: the County Tax Board and the State Tax Court. The basic rule turns on assessed value.
Property Tax Assessment vs. Market Value: What Is the Difference?
A property tax assessment that doesn't match your sale price, a recent appraisal, or an online estimate isn't automatically wrong but it's worth understanding why. Wolf Vespasiano LLC breaks down how New Jersey assessments work, what Chapter 123 means for your appeal, and how to tell whether your property is genuinely overassessed.
Why Did My Property Taxes Go Up?
Commercial property tax increases in New Jersey are often driven by reassessments, rising municipal tax rates, or outdated valuation assumptions that no longer reflect current market conditions. A professional review can uncover overassessments and identify opportunities to reduce your tax burden through an appeal.
What Triggers a Property Tax Reassessment?
The assessed value is the taxable value assigned to your property by the municipality. The tax rate is set separately, based on what the local government needs to fund schools, public services, and infrastructure. A reassessment affects the first number, not the second.
What Municipalities Are Doing Tax Reassessments in New Jersey?
Many New Jersey municipalities are conducting property tax reassessments for 2026, potentially changing assessed values and tax burdens. Learn where updates are happening and what it means for your property.
What Are Chapter 91 Requests?
Chapter 91 requests are a routine but important part of the property tax process for income-producing properties. They provide assessors with the financial information needed to assign an accurate value to your property, and responding completely and accurately can help prevent mistakes that could affect your taxes for the following year.
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