Property Tax Lawyers in New Brunswick
New Brunswick, 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.
New Brunswick, New Jersey measures property taxes simply by taking a percentage of the property's value. Typically, they are paid on a yearly or monthly basis.
In general, the federal government does not impose any property tax. Normally, property tax is imposed by state, county, and municipal governments.
How Property Tax is Calculated in New Brunswick, New Jersey
Typically, New Brunswick, New Jersey property taxes are determined as a percentage of the property's value. Tax rates vary widely, but they normally run from less than 1% up to about 5%.
In order to levy this tax, the tax authorities in New Brunswick, New Jersey must have an uniform formula for figuring out the value of a given piece of property.
Value is subjective in many respects. The home that you grew up in is probably worth more to you than its going market rate. Thus, to ensure that property taxes are fair and uniform, tax collectors have to use purely objective factors when appraising property.
There are many different ways to value property using objective factors. Usually, the appraiser in New Brunswick, New Jersey will consider the current state of the real estate market, the size of the property, any improvements (buildings, roads, etc.) that have been made on the property, and the manner in which the property may be legally used (zoning).
How A New Brunswick, New Jersey Property Tax Attorney Can Help.
The system of levying property taxes in New Brunswick, New Jersey can get fairly confusing. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in various different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Additionally, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If you are engaged in a property tax dispute with the tax authorities of New Brunswick, New Jersey, you should seek the assistance of a New Brunswick, 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.