The following is from Jeffrey Gordon, Esq. Re the importance of hiring an appraiser when fighting your new Assessment:
‘The New Jersey Tax Court has released a new judicial opinion, Austin v. Township of Pemberton, relevant to those filing tax appeals of their Princeton revaluation assessments. In Austin, three taxpayers had relied solely on the relatively recent purchase prices for their homes, without presenting other sale comparables or an appraisal report to the Burlington County Board of Taxation. The County Board not only sustained the assessments, but it ruled that the taxpayers failed to prosecute their cases because “no comps equal no evidence.” The intended effect of a “lack to prosecution” ruling is that a taxpayer cannot further appeal the assessed value to the Tax Court. The taxpayers appealed the Board’s decision, which the Tax Court overturned. The Tax Court Judge noted that the presentation of a subject sale alone may be insufficient to reduce the assessment, but held that it does not constitute a lack of prosecution.
This case highlights the importance of presenting adequate valuation data and analysis at the County Board of Taxation. The safest course of action is to retain a real estate appraiser to present his or her appraisal report at the Board hearing.’
– Jeffrey Gordon, Esq.
700 Alexander Park
Princeton, NJ 08540
Direct Dial: 609-580-3713