patching...
Welcome back, Patch Blogger!

Tax Appeals

Monday, March 26, 2012

Last Chance: Tax Appeals Deadline Is In One Week

The last day to file an application to appeal property tax assessments is Monday, April 2.

The deadline for Ocean City property owners to appeal tax assessments is April 2. The deadline for the appeals each year is April 1, but since that date falls on a Sunday this year, property owners will have until the end of the business day on Monday, April 2, to submit their applications, according to the Cape May County Board of Taxation. Since the market values of many properties have fallen since the city's most recent "hybrid reassessment" in 2008, many owners are potentially paying taxes based on overvalued property assessments. Last year, 622 of the 642 owners who filed appeals were successful. The assessed value of their properties was reduced by a combined $113,061,900, an average of $181,772 apiece. Since then, about 3,000 more …

Friday, July 22, 2011

In Ocean City, 622 Win Tax Appeals of $113 Million

The combined assessed value of Ocean City properties falls by $113,061,900.

When tax bills go out in the next few weeks, 622 Ocean City property owners will be able to keep a few more dollars in their pockets. The owners won tax appeals that reduced the assessed value of their properties by a combined $113,061,900, an average of $181,772 apiece. Based on that number and Ocean City's combined (municipal, schools and county) tax rate (75¢ per $100 of assessed value), the taxpayers will pay an average $1,363 less in taxes this year. There were 642 appeals filed by the April 1 deadline in 2011, and only 20 were dismissed or withdrawn. Ocean City Patch requested results of the recently completed appeals that show that values for these Ocean City properties continued to decline after the city's most recent "hybrid …

Got a Hot Tip?
 
 

Videos