FILING A PROPERTY TAX APPEAL IS MORE IMPORTANT THAN EVER UNDER THE NEW FEDERAL TAX LAWS.
We now have new federal tax laws for 2018. Perhaps the most significant impact on New Jersey will be the $10,000.00 cap on the deduction for state income and property taxes. Until now, New Jersey residents were able to deduct 100% of their state income and property taxes. Under the new federal tax code, that deduction is capped at $10,000.00. Now is the time - - perhaps more than ever - - to consider filing a property tax appeal.
Owners of residential or commercial properties often contemplate appealing their property tax assessments without experienced professional advice. In addition to the technical data necessary to prevail on a tax appeal, even the most basic yet crucial deadlines and procedures can be confusing.
With this in mind, we recommend that property owners consult our tax appeal attorneys as soon as possible if they intend to file an appeal in 2018. The deadline to file a tax appeal is April 1, 2018 in most municipalities, so now is the time to file if you have not already done so. Remember, the municipality will always be represented by an attorney at your tax appeal . . . and so should you. Please call Ray Went at (609) 927-1177 to further discuss our tax appeal legal services.