In a fast paced real estate market it is important to know if your house is assessed at the correct value. Not knowing could cost you thousands!
At Ashenfelter, Slous, McDonough, Golia & Trevenen, LLP, we help commercial and residential property owners in Montclair, Glen Ridge, Bloomfield, Verona and surrounding communities of New Jersey, through all steps of the property tax appeal process. If you feel your property has been unfairly valued, and that your resulting property taxes are too high, our firm will help you.
How Is The Value of Your Property Determined?
Your property assessment and taxes are based on a market value appraisal of your property. That market value is most often based on the sale price of other comparable properties in your area. However, such comparisons must be made very carefully. If the comparison property was not truly similar to yours, or if the buyer was anxious and overpaid, your market value could be exaggerated. Sometimes simple errors such as typos or miscalculations can result in an improper valuation.