The Current Property Tax Appeal Environment
Tuesday
Apr 21, 2009
This past weekend I came across two interesting articles:
Programs across county at risk if GM wins tax appeal focuses on the potential impact of Genesee County municipalities if GM wins it’s tax appeals seeking a cumulative reduction of it’s assessments from $140.5 million to $36.1 million.
Mercer rocked by tax appeals; corporate giants contest their bills provides opinions on tax appeals by Bristol-Myers, Merrill Lynch, J.C. Penny, Macy’s and other “corporate giants”.
It’s interesting how two articles that were published a day apart, focusing on different areas of the country with very different tax systems and pertaining to different property types are actually quite similar.
Call it a glimpse into the current property tax appeal environment.
Comments
Lloyd A. Bettis
April 22nd, 2009 at 10:48 am
The NJ jurisdictions comment about how they are willing to sit down and talk to the tax payers about resolving the assessments now that an appeal has been filed. This certainly makes sense rather than to have the case drawn out for a year or more in tax court with great expense to both the taxpayer and the jurisdicition in appraisal, legal and consultant fees. A better scenario is for the jurisdicition and taxpayer to attempt to resolve assessment differences prior to the filing of an appeal. This approach is often successful in NJ. When it doesn’t work, the filing of an appeal is the only option left for the corporate tax payer.