News & Analysis as of

New Jersey Property Tax

Cole Schotz

The 2025 Tax Appeal Review

Cole Schotz on

Continued pressures created by elevated levels of mortgage interest rates, vacancies, as well as stricter lending policies, point to higher capitalization rates, lower property values and tax appeal opportunities in 2025....more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Local Property Taxation Update: An Overview of Material Depreciation in Value Post-Valuation Date

What You Need to Know - •New Jersey property owners should be aware of the statutory framework, related deadlines, and application of those deadlines within the context of the valuation of property for local taxation...more

Greenbaum, Rowe, Smith & Davis LLP

Garden State C-PACE Program Update: EDA Issues Draft Assessment Documents and Municipal Opt-In Ordinance

What You Need to Know - •On August 14, 2023, the EDA posted the draft assessment agreement forms and model municipal opt-in form required for the program to become operational. •The newly released documents complement the...more

McCarter & English, LLP

FY2024 New Jersey Budget Review

After a tumultuous week of drafting and negotiations on State Street, Governor Phil Murphy has signed into law the Fiscal Year 2024 New Jersey Appropriations Act, formalizing the State’s budget for the upcoming fiscal year....more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Enacts Legislation Imposing Annual Community Service Contributions On Nonprofit Hospitals

On February 22, 2021, New Jersey Governor Phil Murphy signed into law new legislation (A1135/S357) that clarifies and preserves the statutory property tax-exemption historically afforded to nonprofit hospitals under N.J.S.A....more

Flaster Greenberg PC

New Jersey Real Estate Tax Appeal Deadline Approaching, April 1st for Many

Flaster Greenberg PC on

The deadline to file your commercial or residential real estate tax appeal in most municipalities in New Jersey is April 1st. This past year, many commercial property owners have experienced a decrease in revenue and some are...more

Greenbaum, Rowe, Smith & Davis LLP

Governor Murphy Signs Legislation Setting New Deadlines for Filing and Deciding Real Estate Tax Appeals

On May 28, 2020, New Jersey Governor Phil Murphy signed legislation that fixes July 1, 2020 as the deadline for filing 2020 real property tax appeals. The stated reason for adopting the law was to account for the inability to...more

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