Property Tax Alert: New Jersey

December 2005

The local property tax assessment of a parcel of largely undeveloped land owned by a maintenance corporation was upheld. The current reassessment was based on a zoning change permitting commercial development of the land that became effective when the taxpayer dedicated a street to the municipality. Furthermore, a directive by the county tax board specifically excluded from its roll-back order assessments based on zoning changes.

Please contact Rash & Associates for more information.