Morris-Homes.com-Morris County Real Estate: Your Comprehensive Source For Residential Real Estate in Morris County, New Jersey
 
 
Buyers

Sellers

News/Info./Tools

About Smitha
   
 
How to Fight Your Ballooning Real Estate Taxes
 
Property tax monies are needed by local government for fire and police services, schools and the general running of a community. Fair enough, you say. But why does the amount I pay have to make such sizable jumps each year? Why is the fellow down the street paying a $3,000 tax for his home, which seems identical to mine, and I'm slapped with a $4,500 bill? How can you fight unfair assessments and taxes?

 
Did you know that about half the people who appeal a tax bill succeed in winning a reduction of at least 10 percent?
    
What you should not do is rush into the taxing office screaming, "Look at this bill. This is obscene. I shouldn't have to..."and on and on and on.

There are two ways you can get your bill lowered:

1. There is a mistake in your file. Your house is listed as having 2,300 square feet, when it actually has 1,300 square feet

2. The value of your land is listed higher than other lots in your neighborhood.

You cannot appeal the tax rate, as that is set by law. You can, however, appeal the high rate if similar homes in the area have lower taxes, but are comparable in lot size, square footage, number of bedrooms and baths. You might even want to pay for an independent appraisal to strengthen your case.

How do you handle a full-fledged tax appeal?

- Pay close attention to the tax assessment notice that was mailed to you. If you want to protest your taxes, this is what you will be disputing. The notice will probably state that if you want to complain, you have "X" number of days or weeks to do so. Then, it will tell you where to report if you want to enter a protest.

- Call the Assessor's office to see what it offers in the way of printed material explaining the setting of real estate taxes and how homeowners can challenge them. Ask the Assessor's staff if other protests have been filed.

- Visit the Assessor's office to review others' taxes and see if yours are in line with what others are paying. This is all a matter of public record, with no secrecy involved.

- You can also order a pamphlet, "How to fight Property Taxes," published by the National Taxpayers' Union. Order it online on their website at http://www.ntu.org/main/store

 
 


Equal Housing Opportunity
Smitha & Rahul Ramchandani
Broker-Salesperson/Sales Representative | Keller Williams Towne Square Realty
55 Madison Ave - 4th Floor | Morristown, NJ 07960

Smitha Mobile: 973-953-7777 | Rahul Mobile: 973-615-6504
Office: 973-775-9646


 





 


Copyright Notice: Morris-Homes.com is a registered service mark. The information contained in this site is for general consumer use only. While all information is deemed reliable, it cannot be guaranteed. No portion may be copied or reproduced without the express written consent of Smitha and Rahul Ramchandani. All rights reserved. © 2006. By submitting your telephone number anywhere on this website you are consenting for Smitha and Rahul Ramchandani and their authorized representatives to contact you even if your name is on the Federal "Do-not-call List." Each office is independently owner and operated.