What is a Tax Appeal?

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Each and every year you receive a small 3×5 index card in the mail from your municipality.  It simply states what your tax assessment is for the year.  In other words, it says your total assessment is $300,000 and your taxes will be in accordance with that number.  Each year most of us look at the card and simply decide that since our home is worth more than $300,000 than there is no reason to complain, right?  Wrong.

First off, your municipality may tell you that your assessment is $300,000 but what they are NOT telling you is that there is other math involved in that number.  It is called your “Tax Ratio.”  I know, it’s confusing.  If your assessment is $300,000 but your town is one in which the “Tax Ratio” is 50%, your town is really telling you that your home is worth $600,000.  That means that if you believe your house is only worth $300,000 on the open market, you are paying twice as much in real estate taxes as you should!

In either event, if your home is over-assessed, you can challenge the assessment with your County Board of Taxation.  Each year, home owners and commercial property owners challenge their tax assessment and our firm can assist you with the appeal.  Our services are based on a contingent fee – meaning we only charge a fee if we are successful.  There is no fee if we are unable to save you money.

Please contact us to schedule a free consultation.