Bubble Wrap

Taxing times for homeowners

The Herald News reports on the prospect that declining real estate values could eventually provide tax relief to some of the highest property taxes in the country. If a homeowner appeals their tax assessment, it doesn’t necessarily mean they will win, as winning tax appeals hasn’t risen much in NJ this year.

“We’re anticipating a substantial number of tax appeals,” said Louis Izenberg, an appraiser who represents towns and large property owners. “Having said that, at the end of the day, the New Jersey Tax Court relies upon evidence, and for the first time I can recall, we really don’t have an abundance of data.”