Benefits of a Successful Tax Appeal
Reduced Tax Liability: Successfully appealing your tax assessment can lead to a reduction in property taxes, resulting in significant savings for your business.
Improved Cash Flow: Lower property taxes mean you have more funds available for other expenses, investments, or improvements within your business. This can improve overall cash flow and financial health.
Increased Property Value: A lower tax burden can make your property more attractive to potential buyers or tenants, as it reduces their ongoing expenses.
Equitable Assessment: Ensures that your property is assessed based on its true market value, ensuring you're not paying more than your fair share relative to other similar properties.
Protection Against Future Increases: Successfully challenging your assessment can prevent higher tax bills in the future, as it sets a precedent and can impact future assessments.
Better Financial Planning: Knowing you have successfully appealed your taxes can help in long-term budgeting and financial planning for your business.
Legal Precedent: A successful appeal might set a precedent that could benefit other properties you own or manage.
Is your commercial property Over-Assessed?
If you believe that your commercial tax assessment is too high you may file an appeal to lower your tax burday between October 1, 2025 and April 30, 2026
Let us take an initial look at your property with a free estimate. If I believe that your property is worthy of a tax appeal we can proceed with an appraisal and file a formal appeal.
The revaluation process includes updating the property Assessed Value, with a new Equalization Rate, and a new Tax Rate. For commercial properties the process includes a physical inspection, and a request for income & expense information.
I have been a certified commercial appraiser, SCGREA in New Jersey for more than 30 years with an office in Hackensack, and have appraised properties throughout the greater Northern New Jersey marketplace. I will, at no cost, make a preliminary valuation of your property in order to determine the chances of a successful appeal. If we conclude that an appeal has merit, then with your agreement I will complete a formal appraisal to be filed with the county tax assessor.
Although, a revaluation is intended to achieve a fair and equitable market valuation often times the results DON’T. I have experienced assessment mistakes where building sizes were incorrect, market rent assumptions were wrong, and comparable sales data was incorrect. Let me know about your property.