New Jersey Commercial Property Tax Appeal Deadline — April 1

The deadline to file a commercial property tax appeal in New Jersey is April 1, or May 1 in municipalities that have completed a municipal-wide revaluation.

For many commercial property owners, the assessed value of their property does not reflect current market conditions. When an assessment exceeds the property’s true fair market value, a tax appeal may provide an opportunity to reduce annual property tax liability.

A commercial tax appeal challenges the assessed value of the property, not the tax rate. Depending on the nature of the property, valuation may involve a review of income and expenses, market rents, vacancy, comparable sales, and applicable equalization ratios. In most income-producing properties, financial performance and market-based income analysis play a significant role in determining value.

Because strict statutory filing deadlines apply, property owners considering a commercial tax appeal should begin the review process well in advance of April 1 to allow sufficient time for analysis and filing.

My practice represents commercial property owners throughout New Jersey in property tax appeals involving retail, office, industrial, mixed-use, and investment properties.

Note: Residential tax appeals are handled on a limited basis for higher-value properties.

If you have questions about whether a property tax appeal may be appropriate for your property, now is the time to evaluate your options.