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.  

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