to appeal over assessments
Property owners will be receiving
letters from Cherry Hill stating the revalued assessments for their
property during December and
January. These letters do not
state the amount of tax you will be paying, but rather what is the fair
market value of your property.
If your property is over assessed, even by as little as 1%, you can
have a real estate tax appeal.
This special provision only
applies this year -2013 because this is a revaluation year.
Normally, unless your property is valued more than 15% above fair
market value, you cannot appeal.
revaluation of real estate since 1992
has 27,000 properties within its
community. The last revaluation took place in 1992 and by law Cherry
Hill has been compelled to revalue all of the real estate in Cherry
Hill Township effective October 1, 2012. This includes both commercial
real estate such as office buildings, warehouses, manufacturing plants
and apartment buildings as well as residential real estate.
of market value
The goal of
revaluation is to have all property
assessed at 100% of the current real market value. Unfortunately since
it is such a large undertaking, very little time is spent considering
the value of each property. Therefore it is not unusual for an improper
valuation to be made of a particular building or home, or even entire
neighborhoods. In this difficult market, finding true comparable sales
is quite difficult and there is a lot of approximating in the valuation
should you do if you believe your
property is over assessed?
First call your tax
attorney, Ronald J Cappuccio, J. D., LL.M. (Tax) at 856-665-2121.
As tax attorney, we can discuss this matter and see whether or not it
is appropriate to obtain a real estate appraisal and begin the process
of appealing the assessment.
is the process to appeal an assessment?
If the property appears to be significantly over assessed, we will
arrange for an appropriate real estate appraiser to give us a fair
market appraisal of your property.
Secondly, we will discuss this with the Cherry Hill tax assessor and
explain why your property is over assessed.
If the tax assessor will not agree, then we will file an appeal to the
Camden County Board for a hearing to determine fair market value. If
your property is worth more than $1 million, we may file an action
directly in the New Jersey Tax Court.
Once we win before the county board or New Jersey Tax Court, Cherry Hill will not be
able to increase
the assessment of your property for 3 years.
If you have a question
about a possible
Real Estate Tax Appeal Call 856 665-2121 to speak with Ronald
Cappuccio, J.D., LL.M.(Tax), Attorney at Law
Information on Tax Appeals
Tax Appeal -a Lawyer's Job
Tax Appeal Brochure
News - Property Tax Appeals
Ronald J. Cappuccio,
LL.M.(Tax), Tax Lawyer, is a
and Tax Attorney emphasizing Personal and Business IRS Tax Negotiation
and controversies, past
due taxes, Offers
In Compromise, Installment
Agreements, as well as Audits, Delinquent
Contractor issues, Payroll
Levies and Seizures. NJ Tax
Court, US Tax and US Court of Federal
Claims representation. We represent homeowners and businesses in Real
Estate Tax Appeals to the County Boards and New Jersey Tax Court.
can help you start a Limited
Liability Company ( LLC ) which
the best form of business
as well as
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organizations. We also can
represent you in Buying and
Selling a business.
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|Ronald J. Cappuccio, J.D.,
1800 Chapel Avenue West, Suite 128
Cherry Hill, NJ 08002 USA
Phone (856) 665-2121
Fax (856) 665-9005
J. Cappuccio, J.D., LL.M.(Tax) All