Every property is different. We must run
the calculation before advising you to appeal before you list. There are many
factors that we must consider such as timing, market, your home’s value, tax
ratio etc. Sometimes you can appeal while your home is listed.
Should I appeal after I purchase?
Yes. You can absolutely appeal after you
purchase your home. Similar factors must be taken into consideration as
above….timing, market value(in this case it would be your purchase price), tax
3. How are taxes calculated? What is a DDR?
Taxes are calculated based on the District
Director’s Ratio(DDR), Market Value and Rate(dollar amount you are paying per
one hundred dollar). The DDR rate is an Equalization formula taking the
“Market” value and the “Assessed” value into consideration. You can find out
what your town’s DDR rate is at https://ucnj.org/ and click
under “taxation” tab, then “ratio” tab,
then click on the current year. The Market Value of your property and the
Assessed Value have different meanings and purpose. The Assessed Value is used to compute your
tax bill. Your “Assessed” value is subject to change in certain instances, for
example when you have major renovations or if a town goes through a
“re-assessment”. The Market value is what a buyer is willing to pay for your
4. Do I need to hire an attorney?
You do not need to hire an attorney nor do you
need to hire an appraiser. You can file a tax appeal as a homeowner. You can
file every year if you’d like. Just make sure you arm yourself with STRONG
COMPS! There are however benefits of hiring an attorney such as the amount of
research the appeal process takes and the representation you have at the
hearing. You have to know what to say and most importantly, what NOT to say.
Tax Appeal Consultations Are ALWAYS Complimentary.
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