Little Falls, New Jersey Property Tax Law

Property Tax Lawyers in Little Falls

Little Falls, 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 adhered to the land.

Little Falls, New Jersey determines property taxes simply by taking a percentage of the property's value. Normally, they are paid on a yearly or monthly basis.

In general, the federal government does not impose any property tax. Usually, property tax is imposed by state, county, and municipal governments.

How Property Tax is Calculated in Little Falls, New Jersey

Little Falls, New Jersey property taxes are normally calculated as a percentage of the value of the taxable property. Rates vary widely across the country, normally ranging from less than 1% at the low end, to about 5% at the high end.

To collect the property tax in a fair and consistent manner, Little Falls, New Jersey tax authorities need to have an objective formula for determining the value of land under its jurisdiction.

Value, in some ways, is not an objective thing. For example, your childhood home is probably worth much more to you than its simple market value. However, the tax authorities use only objective factors in calculating a home's taxable value.

To this end, the Little Falls, New Jersey appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.

How A Little Falls, New Jersey Property Tax Attorney Can Help.

In Little Falls, New Jersey, property taxes can become pretty difficult. Legal disputes can arise in the property tax context, even if there is no wrongdoing, and the dispute arises from an honest misunderstanding. You might have a good reason to suspect that a mistake was made when your property was appraised, resulting in a higher tax bill than you believe you legally owe, for example.

If you are affected by one of these, or any other, property tax legal issues in Little Falls, New Jersey, you should deal with it properly. If you fail to do so, a relatively minor issue can become much more expensive and inconvenient than it might otherwise have been. Therefore, the assistance of a brilliant tax attorney in Little Falls, New Jersey is highly useful in avoiding these issues in the first place, or handling them if they do arise.