Property Reassessment Tax Appeals in New Jersey

Municipalities periodically conduct townwide reassessments or revaluations to adjust property values to reflect current market conditions. These reassessments may significantly change property tax assessments.

What Is a Property Reassessment?

A reassessment is when a municipality reviews and adjusts property values across the town to bring assessments closer to market value.

Reassessments are typically performed when assessments no longer reflect market conditions.

Why Assessments Sometimes Increase

After a reassessment, property owners may see increases due to:

• Rising property values

• Changes in neighborhood market conditions

• Property improvements

• Updated valuation methods

However, not all reassessments accurately reflect true market value.

When a Reassessment Can Be Appealed

A property owner may consider an appeal if:

• The reassessed value exceeds market value

• Comparable properties are assessed lower

• The property has issues affecting value

• The reassessment appears inconsistent with recent sales

Residential and Commercial Appeals

Both residential and commercial properties may appeal reassessments, including:

• Homes

• Apartment buildings

• Shopping centers

• Office buildings

• Hotels

• Industrial properties

Appeal Deadline After Reassessment

Following a reassessment, the filing deadline may differ from the standard April 1 deadline.

Property owners typically have 45 days from the mailing of the assessment notice to file an appeal.

Information Needed for a Review

To review a reassessment we typically request:

• Property address

• Current assessment

• Tax bill

• Purchase information (if applicable)

• Rent roll and financials for commercial properties

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Free Property Tax Assessment Review

NJ Property Tax Consulting reviews residential and commercial properties across New Jersey to determine whether a property tax appeal may be warranted.