“Thanks” To COVID-19, It’s Not Too Late To File A Property Tax Appeal
Like you, we at McKirdy, Riskin, Olson & Della Pelle, P.C. have had to adapt to the current State of Emergency caused by the COVID-19 virus that has upended our normal routines. First and foremost is that we are all concerned about our health and that of our family and friends, especially those most vulnerable to this insidious illness that has taken far too many lives and threatens many more.
Of course, another victim of COVID-19 is the economy. The financial impact of this crisis has already been devasting as business owners have been forced to cease operations and to furlough and/or lay off employees. Those who – for now – are more fortunate because they can maintain operations and a revenue stream, recognize the tenuous nature of their position. Worse still, the long-term economic impact of the shutdown and the impacts upon the real estate market are unknown.
Many businesses are considering every option to cut costs to stay afloat during this trying time and beyond. Commercial and residential landlords are scrambling as tenants have already missed rent payments or are forecasting their inevitable inability to pay future rent.
One potential cost saving measure that may be overlooked, but may deliver a significant cost savings, is to file a property tax appeal. Due to the State of Emergency, the deadline to file a property tax appeal in New Jersey has been extended until 30 days following the cessation of the State of Emergency. The tentative deadline is June 7, 2020 so there is still time to file a 2020 appeal for most cases.
Please feel free to contact us should you have any questions about whether you should file an appeal; the appeal process; or how the pandemic and lockdown may impact an appeal.
You may call or email Tom Olson at 973-539-8900 or email: firstname.lastname@example.org. We will perform a preliminary evaluation of your assessment on a complimentary basis in order to determine whether we recommend an appeal for 2020.