7/26/2023 0 Comments Nj ocean county tax recordsPlease also note that only appraisals that were prepared for “tax appeal” purposes, and bearing the aforementioned October 1 date of valuation will be allowed as evidence. That type of testimony would require an appraisal and a licensed appraiser who is present to testify before the Tax Board as to the differences between the properties and the adjustments that were made. Unfortunately, however, in cases where the property being offered into evidence is not comparable to the subject property, the taxpayer is precluded from offering an opinion as to monetary adjustments that might need to be made to the “comparable” sale in order to prove value. In some cases, there just are not a lot of usable comparable sales upon which the taxpayer can rely, so we sometimes see a taxpayer attempting to testify about the sale of a somewhat different property and trying to explain adjustments for size and location. In all, there are 33 different NU Codes, but not all of them will exclude a comparable from being admitted into evidence. There are also a lot of sales that are designated in the tax book with an “NU Code,” which is very often indicative of the assessor’s presumption that the sale price does not reflect the real market value of the property, and hence is “unusable.” Examples of unusable deed transactions include estate sales, bank sales, and sales to members of the family. The Tax Board will generally consider sales that occurred up to twelve months prior to the date of valuation, and will generally even consider sales that occurred in October through December of the pretax year, under the theory that the comparable property was probably under contract as of October 1. the year prior to the year when the appeal was filed). Making adjustments to comparable salesįor tax appeal purposes, the date of valuation is October 1 of the pretax year (i.e. In order to prove an over-assessment, the taxpayer should be prepared to discuss the prices of comparable properties that sold during the appropriate time period, or preferably, have an appraiser present, who can testify not only about the comparable properties, but also about mathematical adjustments used in their analysis. Accordingly, testimony and evidence about other people’s assessment will not be allowed in the tax appeal hearing. But is certainly not evidence of what the subject property is worth. A lower assessment on a better house may possibly be evidence that the better house was under-assessed. The commissioner(s) presiding over the hearing, however, will not allow any discussion of other assessments in the tax appeal hearing. Sometimes, taxpayers want to tell the Tax Board Commissioners about their neighbor’s houses, which are inevitably nicer and bigger than their houses, but with lower assessments. Attempting to use other assessments as evidence. The following is a list of common mistakes we routinely hear taxpayers make during their hearings, along with some of our suggestions of how to avoid them: 1. However, it is very important for unrepresented taxpayers to familiarize themselves with the process before their tax appeal hearings, in order to avoid mistakes that will cause them to lose their matters. With very few exceptions, a taxpayer does not need an attorney to represent him or her at the tax appeal hearing. Therefore, I often get to listen to other taxpayers presenting their cases, while I am waiting for my cases to be reached. The County Tax Board will then proceed by calling the list of cases, one at a time, typically “block and lot” order. County Tax Board hearing dates are grouped according municipality, often with several dozens of hearings for a single town scheduled on the same day. Since 2004, our office has filed more than 1000 tax appeals before the various County Tax Boards in New Jersey.
0 Comments
Leave a Reply. |