REMINDER: December 1st Deadline to Appeal Added Assessment

The clock is ticking to file a tax appeal to challenge an added assessment, an omitted assessment, or an omitted added assessment.  Wednesday, December 1, 2010 marks the statutory deadline for taxpayers to challenge assessments levied against real property relative to improvements completed in 2010.  In most circumstances, an appeal would be filed with the county Board of Taxation in the county where the property is located.  However, where the amount of the added or omitted assessment exceeds $750,000, aggrieved property owners can elect instead o file an appeal directly in the Tax Court.  In either instance, the appeal must be received by December 1st.

Taxpayers can be saddled with a hefty tax bill in an added or omitted assessment.  Appealing such an assessment offers benefits not only for the 2010 taxes to be paid, but also in determining the fair market value of the assessment to ensure that the property is properly assessed in future years.  

Eligibility for Section 1603 Payments Set to Expire Soon

A recent Reuters article succinctly summarizes some of the chief arguments in support of extending the Section 1603 Renewable Energy Grant Programs that were, arguably, the driving force behind the burgeoning alternative energy development of the past couple of years.  While the tax credits for constructing qualifying projects will not expire until 2016, the renewables industry benefits from the almost immediate grants that can be used to fund project costs.  Barring an extension, this industry-driver will expire in about six weeks.