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assess Advisers begin reviewing properties in October                                                                                    Don’t do yourself in                                                         Municipal assessors use Chapter 91
➤➤   Continued from page 1                                                                                                                                                                                       to request a “summary of the income and
                                                                                                         A siMpLE MisTAKE can kill a property
                                                                                                                                                                                                                 expenses for an income-producing prop-
                                                                                                         tax appeal, said Jeffrey M. Hall, of fox
                                                                                                                                                                                                                 erty” — but it can apply to all properties,
generally have until April 2010 to appeal that                The savings, though, can be significant.   rothschild. “owners and tenants should
                                                                                                                                                                                                                 even ones that don’t generate income.
year’s commercial assessment, the process can                 “in a northern new Jersey case, we argued  pay close attention to Chapter 91
                                                                                                                                                                                                                      A failure to submit a requested in-
start as early as october, when tax assessors           that an assessment on an office building was     requests issued by municipal asses-
                                                                                                                                                                                                                 come and expense statement will likely
begin their own computations.                           inconsistent with the assessments of other sim-  sors,” he said. “Named after a state law,
                                                                                                                                                                                                                 “result in a dismissal of a tax appeal
      “in one case we handled, a client in a subur-     ilar properties within the office park,” Pellec- Chapter 91 has claimed many a worthy
                                                                                                                                                                                                                 petition or complaint,” hall added.
ban new Jersey location had a 50,000 square-foot                                                          8:55 filed Page 1
                                                          PS12213_HBC09029_PerfectFit_4c 9/10/09 appeal PM with the tax court and the
                                                        chia said. “we were able to reach a settlement
                                                                                                                                                                                                                                                          – Martin C. Daks
industrial building that was being valued at about      resulting in a total tax savings of $450,000.” u county boards of taxation.”
$140 per square foot for property tax purposes,”                                       E-mail to mdaks@njbiz.com
Kahn said. “i started negotiating with the asses-
sor in october and got it reduced to about $100 a
square foot before the tax bill ever went out. i call
this the ‘bird in the hand’ approach.”
      Jeffrey M. Hall is another attorney who’s
not waiting to start the review process.
      “in october 2009, we’ll start reviewing our
clients’ properties to see what their valuation
should be for the 2010 cycle,” said Hall, a real
estate partner at the Princeton o
								
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