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Re: Property Tax Appeal - Comparable Sales
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I had my tax appeal hearing yesterday. I actually withdrew the appeal because they said they would take away my abatement if I went through with it.

Anyway, it is interesting. The council seemed very fair and friendly. Even the Jersey City representatives seemed fair. A couple of people came in without comps and said "I would like my taxes reduced. They are too high." They barely spoke English. The Jersey City reps would offer 20% off or something. Then the council would interpret and say "Sir, they are offering to reduce your taxes." The resident would then say "ok" and sign a stip.

Posted on: 2010/5/26 14:56
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Re: Property Tax Appeal - Comparable Sales
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Was there someone there to argue against your comps? What was the basis of the towny telling you the property was worth 30% more?

Posted on: 2010/5/18 21:01
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Re: Property Tax Appeal - Comparable Sales
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I went with comps, the douch-bag towny tried to tell me my building was worth 30% more than I bought it for two years ago. I told him, thanks for sharing, I will talk to the commisioner. I presented the comps to him, he heard me out, and said they will decide my fate in 4 weeks, and I can again refute that outcome, if I don't like it. The woman in front of me settled for a 10% tax reduction, without seeing the commisioner. Neither of us had a lawyer, or appraiser.

Posted on: 2010/5/17 21:01
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Re: Property Tax Appeal - Comparable Sales
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I have my hearing next week and I do not believe anyone has tried to call me. I am wondering if I should call the city or just show up at the hearing. I am reluctant to negotiate but I do not know how these things work.

Posted on: 2010/5/17 17:28
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Re: Property Tax Appeal - Comparable Sales
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Our hearing has not been scheduled yet. Our appraiser will go to the hearing, but he said that the city may call us to negotiate beforehand.

Sorry, I'm not much help yet.

Posted on: 2010/5/17 16:50
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Re: Property Tax Appeal - Comparable Sales
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Has anyone gone to one of the hearings? Who speaks on behalf of the government? How does the hearing work? Can we call beforehand to negotiate?

Thank you!

Posted on: 2010/5/17 12:30
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Re: Property Tax Appeal - Comparable Sales
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Richard izenberg
rdiappraisal@aol.com

Posted on: 2010/3/6 16:26
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Re: Property Tax Appeal - Comparable Sales
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is the appraiser still working? if so, can you share his info?

thanks

Quote:

AlexanderHamilton wrote:
I used an appraiser in 09 who charged me $300 per apartment. I picked up the application papers from city hall and dropped them off on Pavonia avenue - it was easy. Saved me $500 per apartment ($4,000 per year, every year!)

Don't use an attorney, unless your situation is unduly complicated. They are blood suckers and charge rediculous commission. Fact is....you don't need them!

My appraiser achieved a 14% reduction in property taxes accross the board - on 8 apartments, and we didn't even have to go to the hearing! Appraiser negotiated the deal directly with Jersey City - who had 700 applications last year!

A good appraiser will pull up compatible sales and run the numbers before doing the appeal. Mine wouldn't even take my money unless he thought I had a good chance of winning.

Just get the paperwork in asap - you can select the appraiser after April 1st as long as it's filed with the city.

Posted on: 2010/3/5 14:35
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Re: Property Tax Appeal - Comparable Sales
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I used an appraiser in 09 who charged me $300 per apartment. I picked up the application papers from city hall and dropped them off on Pavonia avenue - it was easy. Saved me $500 per apartment ($4,000 per year, every year!)

Don't use an attorney, unless your situation is unduly complicated. They are blood suckers and charge rediculous commission. Fact is....you don't need them!

My appraiser achieved a 14% reduction in property taxes accross the board - on 8 apartments, and we didn't even have to go to the hearing! Appraiser negotiated the deal directly with Jersey City - who had 700 applications last year!

A good appraiser will pull up compatible sales and run the numbers before doing the appeal. Mine wouldn't even take my money unless he thought I had a good chance of winning.

Just get the paperwork in asap - you can select the appraiser after April 1st as long as it's filed with the city.

Posted on: 2010/3/5 5:44
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Re: Property Tax Appeal - Comparable Sales
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Quote:

fat-ass-bike wrote:
Every property owner should appeal.

Does everyone really believe that property bought 5 years ago has increased in value in today's current climate ?
City hall will never acknowledge that prices have decreased or even remained stable when it comes to property tax - they just want more, more, more !

I agree with mrrogers make them justify the amount they seek, or at least make them do some work for it.

Especially knowing that most of the city hall workers live out of town so they're not affected by the hike, and the ones that do live here probably rent...in an 4% cap apartment building.

Posted on: 2010/3/4 14:05
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Re: Appealing Jersey City Real Estate Taxes
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If you want to know how it works:
http://jclist.com/modules/newbb/viewt ... id=231210#forumpost231210

And my gf has decided that she will be unable to offer services in JC...

Posted on: 2010/3/4 13:58
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Appealing Jersey City Real Estate Taxes
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I am wondering if anyone has appealed their real estate taxes in Jersey City. If so I am hoping you can share the process with me.

I just received a proposal from a law firm that wants to appeal my taxes for me. Before I go that route I wanted to see if anyone had success on their own.

Any tips would be appreciated.

Thanks

Posted on: 2010/3/4 10:46
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Re: Property Tax Appeal - Comparable Sales
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Every property owner should appeal.

Does everyone really believe that property bought 5 years ago has increased in value in today's current climate ?
City hall will never acknowledge that prices have decreased or even remained stable when it comes to property tax - they just want more, more, more !

I agree with mrrogers make them justify the amount they seek, or at least make them do some work for it.

Posted on: 2009/3/15 20:54
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Re: Property Tax Appeal - Comparable Sales
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Always apply for the appeal.More you bitch better your chance to be reduced.

Posted on: 2009/3/15 20:45
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Re: Property Tax Appeal - Comparable Sales
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Hi, Thanks for the leads.

The problem is proving to be: checking to see if the comparable property has had it's tax re-assessed yet to be a valid comp...

I really don't understand why this is relevant...surely for a condo, it's the ratio of sales price per square footage that matters?

City re-assessment of property tax is kinda irrelevant when you're assessed at $550 a sqft and similar units are selling for $375 a sqft. Am I nuts or can someone straighten me out here?

Posted on: 2009/3/14 11:56
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Re: Property Tax Appeal - Comparable Sales
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You might want to ask JimmyB for his Monthly sales report. Email him at JimmyBenito@gmail.com

I think the last report that he publicly posted on this website was July 2008. ---> Look at post #62 on that thread.

I think that report is just a monthly version of the "State of the Downtown Real Estate Market" that used to get published quarterly. That might be your best bet to get it pretty quickly.

Posted on: 2009/3/13 14:13
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Re: Property Tax Appeal - Comparable Sales
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After the 1988 reval I appealed my property for five straight years. I reduced to assessment to less than half of its assessed value. Go to the tax office in Jersey City. They have the sales you need in the office. The tax office is very helpful.

Yvonne

Posted on: 2009/3/12 14:31
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Re: Property Tax Appeal - Comparable Sales
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You can search for comps here:

http://tax1.co.monmouth.nj.us/cgi-bin ... ata&district=0801&mode=11

Just go to the site, enter county, city, etc..select advanced search and enter the date range, property type you are interested in. You can then take photos etc..and create a profile for each comp so that the tax board has as much info as you can get on the comps.


Also, this brochure might be helpful:

http://www.state.nj.us/treasury/taxation/pdf/lpt/ptappeal.pdf

Find out what the ratio is for Jersey City for the tax year you are appealing and then calculate your ratio (formula is in the brochure). According to the brochure, if your ratio is 15 points above the citywide ratio they MUST adjust your assessment to the citywide ratio. If you are within 15 points they are not required to do anything. HOWEVER..if your ratio is below the citywide ratio and you appeal, I believe they are required to/or are permitted to adjust you upward. So be sure that your property is eligible for an appeal before you file.

Ratios for Hudson County are here:

http://www.hudsoncountytax.com/html/RatesRatios.aspx

My guess is that the city is inundated with appeals this year, so Good luck.

Posted on: 2009/3/12 14:14
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Property Tax Appeal - Comparable Sales
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I'm preparing a tax appeal - I'm assessed at $550 a square foot for a 450sqft condo = approx $250K value.

I see current sales in the Hamilton Park area coming in at $370 a sqft.

Wondered if anyone has 5 comparable sales in 07302 that they may be filing from a similar appeal?

According to the guy at the assessors office at City Hall:

• Requirements are properties sold between 10/07 - 10/08.
• Taxes must already be assessed and not pending
• No rebates in place
• At least 5 comps required

Need block, lot, address, date of sale, price

Anyone got any comps to share? If we work together and obtain 5 legit examples, we can all reduce our condo taxes. It only costs $25 and must be filed before April 1st.

Best, Alex

Posted on: 2009/3/12 10:57
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