Property Tax Lawyers in Burlington County
Burlington County, New Jersey laws require that most owners of real property pay taxes on its value. "Real property" refers to building and land, and objects (like natural resources) that are permanently affixed to the land.
Property taxes in Burlington County, New Jersey are determined as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (often yearly) intervals.
Federal authorities do not collect a property tax. Only state and local governments collect property taxes, as a general matter.
How Property Tax is Calculated in Burlington County, New Jersey
Most often, property taxes in Burlington County, New Jersey are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of different tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax, the authorities of Burlington County, New Jersey have to first determine the value of an individual piece of land.
Value is subjective in many respects. The home that you grew up in is probably worth more to you than its going market rate. Therefore, to ensure that property taxes are fair and uniform, tax collectors have to use purely objective factors when appraising property.
Thus, the people in charge of appraising the value of property in Burlington County, New Jersey have to consider only objective, factual criteria when calculating the value of a piece of land. These criteria include the state of the real estate market, the zoning of the land (which determines how it can be used), and any improvements that have been made to the land, among other things.
How A Burlington County, New Jersey Property Tax Attorney Can Help.
Property tax law in Burlington County, New Jersey is not always simple. Legal disagreements about property taxes can arise from almost any situation. For instance, you might have reason to suspect that the taxable value of your home was overestimated, creating a bigger property tax bill. And, the government might claim that you have underpaid your property taxes, while you think that you have paid the correct amount.
If you run into any issue with your Burlington County, New Jersey property taxes, failing to handle it properly can result in anything from unnecessary inconvenience to massive fines and tax penalties. However, with the help of a Burlington County, New Jersey tax attorney, your chances of running into a property tax problem can be minimized.