profile picture

English French Spanish

 

leftAssessment appeal services

Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.


Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.

 

There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction. 

 

Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning  an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.

 

Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at BICI APPRAISALS, we are able to professionally and persuasively testify at appeal hearings.  Browse our website to learn more about our qualifications, expertise and services offered.

 

 

CATEGORIES OF NONUSABLE DEED TRANSACTIONS WITHIN NEW JERSEY

Check for most current list.

CATEGORIES OF NONUSABLE DEED TRANSACTIONS

N.J.A.C.18:12-1.1 Categories enumerated

(a) The deed transactions of the following categories are not usable in determining assessment sales

ratios pursuant to N.J.S.A. 54: 1-35.1 et seq.:

1. Sales between members of the immediate family;

2. Sales in which "love and affection" are stated to be part of the consideration;

3. Sales between a corporation and its stockholder, its subsidiary, its affiliate or another

corporation whose stock is in the same ownership;

4. Transfers of convenience; for example, for the sole purpose of correcting defects in title, a

transfer by a husband either through a third party or directly to himself and his wife for the

purpose of creating a tenancy by the entirety, etc.;

5. Transfers deemed not to have taken place within the sampling period. Sampling period is

defined as the period from July 1 to June 30, inclusive, preceding the date of promulgation,

except as hereinafter stated. The recording date of the deed within this period is the

determining date since it is the date of official record. Where the date of deed or date of

formal sales agreement occurred prior to January 1, next preceding the commencement date

of the sampling period, the sale shall be non usable;

6. Sales of property conveying only a portion of the assessed unit, usually referred to as

apportionments, split-offs or cut-offs; for example, a parcel sold out of a larger tract where

the assessment is for the larger tract;

7. Sales of property substantially improved subsequent to assessment and prior to the sale

thereof;

8. Sales of an undivided interest in real property;

9. Sales of properties that are subject to an outstanding Municipal Tax Sales Certificate, a lien

for more than one year in unpaid taxes on real property pursuant to N.J.S.A. 54:5-6, or other

governmental lien;

10. Sales by guardians, trustees, executors and administrators;

11. Judicial sales such as partition sales;

12. Sheriffs sales;

13. Sales in proceedings in bankruptcy, receivership or assignment for the benefit of creditors

and dissolution or liquidation sales;

1

14. Sales of doubtful title including, but not limited to, quit-claim deeds;

15. Sales to or from the United States of America, the State of New Jersey, or any political

subdivision of the State of New Jersey, including boards of education and public

authorities;

16. Sales of property assessed in more than one taxing district;

17. Sales to or from any charitable, religious or benevolent organization;

18. Transfers to banks, insurance companies, savings and loan associations, or mortgage

companies when the transfer is made in lieu of foreclosure where the foreclosing entity is a

bank or other financial institution;

19. Sales of properties whose assessed value has been substantially affected by demolition, fire,

documented environmental contamination, or other physical damage to the property

subsequent to assessment and prior to the sale thereof;

20. Acquisitions, resale or transfer by railroads, pipeline companies or other public utility

corporations for right-of-way purposes;

21. Sales of low/moderate income housing as established by the Council on Affordable

Housing;

22. Transfers of property in exchange for other real estate, stocks, bonds, or other personal

property;

23. Sales of commercial or industrial real property which include machinery, fixtures,

equipment, inventories, or goodwill when the values of such items are indeterminable;

24. Sales of property, the value of which has been substantially influenced by zoning changes,

planning board approvals, variances or rent control subsequent to assessment and prior to

the sale;

25. Transactions in which the full consideration as defined in the "Realty Transfer Fee Act" is

less than $100.00;

26. Sales which for some reason other than specified in the enumerated categories are not

deemed to be a transaction between a willing buyer, not compelled to buy, and a willing

seller, not compelled to sell;

27. Sales occurring within the sampling period but prior to a change in assessment practice

resulting from the completion of a recognized revaluation or reassessment program, i.e.

sales recorded during the period July 1 to December 31 next preceding the tax year in which

the result of such revaluation or reassessment program is placed on the tax roll.

2

28. Sales of properties which are subject to a leaseback arrangement;

29. Sales of properties subsequent to the year of appeal where the assessed value is set by court

order, consent judgment, or application of the "Freeze Act."

30. Sale in which several parcels are conveyed as a package deal with an arbitrary allocation of

the sale price for each parcel;

31. First sale after foreclosure by a federal- or state-chartered financial institution;

32. Sale of a property in which an entire building or taxable structure is omitted from the

assessment;

33. Sales of qualified farmland or currently exempt property.

(b) Transfers falling within the foregoing categories nos. 1, 2, 3, 9, 10, 13, 15, 17, 26, 28 and 31

(under section 1.1(a)), should generally be excluded but may be used if after full investigation it

clearly appears that the transaction was a sale between a willing buyer, not compelled to buy,

and a willing seller, not compelled to sell, with all conditions requisite to a fair sale with the

buyer and seller acting knowledgeably and for their own self-interests, and that the transaction

meets all other requisites of a usable sale.

3

http://www.njactb.org/Downloads%20New.asp

 

 

NEW JERSEY PROPERTY TAX SYSTEM LEGEND

REAL PROPERTY CLASS CODES EXEMPT PROPERTY CLASS CODES

TAXABLEPROPERTY 15A PUBLICSCHOOLPROPERTY

1 VACANTLAND 15B OTHERSCHOOLPROPERTY

2 RESIDENTIALPROPERTY(1-4FAMILY) 15C PUBLICPROPERTY

3A FARM(HOUSE) 15D CHURCH&CHARITABLEPROPERTY

3B FARM(QUALIFIED) 15E CEMETERIES&GRAVEYARDS

4A COMMERCIAL 15F OTHEREXEMPT

4B INDUSTRIAL

4C APARTMENT

RAILROADPROPERTY DEDUCTIONS

5A RAILROADCLASSI

5B RAILROADCLASSII CODE EXPALNATION

S SENIORCITIZEN

PERSONALPROPERTY V VETERAN

6A TELEPHONE W WIDOWOFVETERAN

6B MACHINERYOFPETROLEUMREFINERIES D DISABLEDPERSON

6C PHASEOUTPERSONALPROPERTY R SURVIVINGSPOUSE

BUILDINGDESCRIPTION* QUALIFICATION

STORIES CODE EXPLANATION

S PREFIXSWITHNUMBEROFSTORIES S SECTORNUMBERPREFIX

W WARDNUMBERPREFIX

STRUCTURE C CONDOMINIUMUNITPREFIX

AL ALUMINUMSIDING QFARMQUALIFIEDFARM

B BRICK LOT LOTONLYISOWNED

CB CONCRETEBLOCK BLDG BUILDINGONLYISOWNED

F FRAME HM HACKENSACKMEADOWLANDS

M METAL X EXEMPTPORTIONOFTAXABLEPROPERTY

RC REINFORCEDCONCRETE FP FLOODPLAIN

S STUCCO M MOBILEHOME

SS STRUCTURALSTEEL PL PINELANDS

ST STONE Z COASTALZONE

W WOOD L WETLANDS

STYLE SPECIALTAXCODE

A COMMERCIAL

B INDUSTRIAL CODE DISTRICTTYPE

C APARTMENTS F FIRE

D DUTCHCOLONIAL G GARBAGE

E ENGLISHTUDOR S SEWER

F CAPECOD L LIGHT

L COLONIAL W WATER

M MOBILEHOME R R.E.A.P.(Shared service rebate)

R RANCHER

S SPLITLEVEL LIMITEDEXEMPTIONS

T TWIN

W ROWHOME CODE EXPLANATION

X DUPLEX E FIRESURPRESSIONSYSTEM

Z RAISEDRANCHER F FALLOUTSHELTER

 

Mortgage Calculator

$
%
%
yrs
$

Today's Rates

Mtg Loan Rate APR
30-yr Fixed 4.65% 4.8%
15-yr Fixed 4.11% 4.33%
1-yr Adj 2.76% 3.42%
* national averages

Got a Question?

Do you have a question relating to real estate appraisals? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Information
Question
There was a problem returning the RSS feed.