How to Reduce your Little Egg Harbor, Ocean County, NJ Property Taxes

How to Reduce your Little Egg Harbor, Ocean County, NJ Property Taxes

Now that I have gotten your attention, let me explain a few assumptions on my part. First, that the property in question is used and zoned as residential.  Second, that the total assessed value is less than $750,000. Third, I assume you think your taxes are excessive due to Little Egg Harbor Township's assessed value.  Finally, that the true market value will be significantly less than the assessed value.

If my assumptions are wrong then it is still possible for you to get a reduction on your property taxes and you should visit, download, and read all the preparation guidelines provided at http://www.tax.co.ocean.nj.us under the title "Tax Appeals". And, I strongly recommend that all those reading this blog do the same. A visit to the township web site www.LEHT.com/departments/tax-appeal.php will only yield a blank page, a subject for another blog.

The township will be sending out the annual Assessment Notices on or about February 1^st. That notice will provide you with the total assessed value of your home. If you think you could sell it that much money then God Bless you. You can stop reading now. For the rest of the community that had their homes assessed higher than the highest bubble a few years back, here's the real deal and how you may be able to hold on to some of your money                      .

The burden of proof is on you, the home owner. You and or your attorney are the only ones eligible to file an appeal to your assessed property value. You can hire an appraiser to provide you with the necessary information and pay him to appear at the hearing as your expert witness. You can also hire an attorney to fight the fight for you. Or, you can do it yourself (DIY) with help from your local real estate agent. The township will be represented by their attorney and will most likely have our tax assessor, Joseph Sorrentino, there as her expert witness.

You MUST present persuasive and credible evidence as to why the assessed value is incorrect, excessive, or discriminatory. The best way to demonstrate that is using the "true market value standard" providing the Board of Taxation with not more than five comparable sales prior to October 1 of the previous year. Comparable sales means that they are home similar to yours and offer the same square footage and features in equal quality and condition located in near proximity to the property you are challenging the assessment which by law is presumed to be correct.

Do not try to present a three bedroom one bath ranch home on small lot as a comparable to your four bedroom two and half bath home that sits on a quarter acre lot. And, do not try to pass off Bank Owned, foreclosures, short sales and other sales transactions that are influenced by extraordinary issues as a comparable sale. You must be prepared to discuss the comparable elements of the sold properties to the one you are appealing. Do your homework and take pictures, attach copies of the Multiple Listing Data Sheets and tax records.

Once you have gathered all the supporting information and downloaded the appropriate forms, call the Little Egg Harbor tax assessor (609-296-7241) and ask for the district average to be used on the chapter 123 worksheet to test the fairness of the town's assessment of your property. It may be possible to schedule an appointment with the tax assessor, Joseph Sorrentino, to actually present your case prior to submitting the full application since he does work for all tax payers of Little Egg Harbor. If you do get to schedule a meeting with him and present your case, he can offer to make an adjustment to your assessment. Settlement stipulations must also be submitted to and approved by the County Tax Board.

Filing fees for property assessed at more than $150,000 but less than $500,000 is $25 and those assessed between $500,000 and a Million Dollars are charged a $100 application fee. Time is of the essences. Start your homework today to have your appeal complete and submitted to the Ocean County Board of Taxation (732-929-2008) prior to April. If I can be of further assistance, please contact me by email at NJHomes@Hotmail.com or my office telephone at BayShore Agency (609-296-3100 extension 219).