Property Tax Lawyers in Morristown

Morristown, 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.

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

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

How Property Tax is Calculated in Morristown, New Jersey

Usually, Morristown, New Jersey property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they typically run from less than 1% up to about 5%.

To levy this tax, Morristown, New Jersey tax authorities must first figure out how much a house or piece of land is worth.

As you probably know, value is not always objective. For instance, the owners of family heirlooms usually place far more value on them than their objective monetary value. So tax officials have to be careful to only use objective criteria in valuing property for tax purposes.

To that end, the Morristown, New Jersey employees in charge of appraising land look at objective facts to calculate value, like the size of the land and any buildings on it, the way in which the land may legally be used (zoning), and the health of the local real estate market.

How A Morristown, New Jersey Property Tax Attorney Can Help.

Morristown, New Jersey's property tax system is somewhat complicated. Legal disputes arising from property taxes can arise in a number of ways. For instance, the state might accuse a homeowner of failing to pay their property taxes, when they actually have. Conversely, a homeowner might believe that the value of their property was appraised inaccurately, resulting in a higher tax bill.

If you are involved in a property tax dispute with the tax authorities of Morristown, New Jersey, you should seek the advice of a Morristown, New Jersey tax attorney. Your attorney can help you prevent a small tax problem from turning into something much bigger and more expensive than it needs to be.