Senate Passes Tax Appeal Reform for Monmouth County

 The New Jersey Senate has approved legislation that would establish a real property assessment “demonstration program” in Monmouth County.  The bill, Senate Bill 2234, attempts to reduce costs while improving the accuracy of the property assessment process by addressing costs from successful tax appeals versus merely consolidating the county-based system.  The new system shifts assessment, filing, and hearing dates in an effort to resolve tax appeals before municipal budgets are finalized and towns are forced to bond to cover the cost of successful tax appeals.  This bill will not become law until approved by the Governor, so it will be worth watching what happens next.

 For media coverage of the bill, please see Bill Reforming Monmouth County Property Assessment Clears Senate, in The State Column.

For additional blog posts discussing property tax appeal legislation, please see the following:

Farmland Assessment Practices Growing Concern for Two Senators

Contaminated Property Would Be Assessed As-If Remediated Under Proposed Legislation

New Legislation Could Deny Property Owners Full Refund of Excess Taxes Up to Three Years

 Legislature Introduces Bills to Make Tax Appeal Process More User Friendly

 The author wishes to acknowledge the assistance of Cory K. Kestner, Esq., of McKirdy & Riskin, PA, in the preparation of this article.