Tax Appeals in the LBI New Jersey Real Estate Market
LBI Real Estate 
Long Beach Island Real Estate Tax Appeals 
Long Beach Island Real Estate
Long Beach Island Real Estate
While most buyers are surprised at the relatively low property taxes on Long Beach Island, anything that can be done to reduce your ownership costs should be explored. With New Jersey being one of the most heavily taxed states in America, Long Beach Island Real Estate Tax Appeals have become especially popular among buyers who may be paying to much. Understanding how a tax appeal works and how it may or may not save you money is key to investment in the LBI real estate market. As with any major financial decision it is best to consult and hire the appropriate parties. For example the involvement of an attorney in a tax appeal can help you understand your rights which I as a real estate agent cannot do.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Long Beach Island Real Estate Tax Appeals
To keep things as simple as possible, if your property is assessed to high you will be paying more in property taxes than you should be. An assessment should reflect the fair market value of your home after the towns tax ratio has been applied. It is important to note that on Long Beach Island there are six separate municipalities each with their own unique codes. These towns are:
The determination of your assessment, which is also referred to as the assessed value of your home, is based on the market value-in other words what your home should sell for in the LBI real estate market. If your home is over assessed, meaning the assessment imposed by the municipality is higher than the market value, than you may be paying too much in property taxes and you may be able to have these numbers lowered. You as a homeowner can appeal your own taxes or you can hire an attorney to represent you and your tax appeal. In most cases an appeal of your property tax assessment will be filed with the board of taxation at a hearing in which both sides will lay out the case for the appeal and a determination will be made as to whether your taxes will be lowered. Buyers and sellers in the LBI NJ real estate market should carefully explore and understand Long Beach Island Real Estate Tax Appeals. Having lower (or higher) taxes can positively or negatively impact the value of a home on Long Beach Island.
Getting Started with Tax Appeals in the LBI New Jersey Real Estate Market
As I mentioned above I am a real estate agent-not an attorney. As such I cannot directly help you with your tax appeal. I am providing this information merely to lay out the basics of Long Beach Island Real Estate Tax Appeals and how they can impact buyers and sellers in the LBI Real estate market. I am happy to connect you with local attorneys who can answer your specific questions and help determine if you are a good candidate for a Long Beach Island Real Estate Tax Appeal.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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