It is official. Jersey City has finalized the 2022 tax rate, and it represents an unprecedented increase of 32% from its 2021 tax rate. Remarkably, it is estimated that the average homeowner in Jersey City will see an increase of $2,360 in their yearly property taxes. This type of one-year increase can be catastrophic for… Read more »
On June 30, 2021, David Wolfe, property tax appeal attorney, joined as a panelist at Bisnow’s Digital Summit: Development, Investment and Industry Growth to discuss the future of the real estate office market in the New Jersey waterfront area. Panelists included Michael Goldstein, Managing Director of KABR, Mark Ravesloot, Vice-Chairman of CBRE’s Midtown Manhattan office,… Read more »
As we wrote earlier in 2020, Jersey City, N.J., is now aggressively pursuing commercial property owners with reverse appeals designed to increase assessments and corresponding property taxes. Despite recently completing a revaluation in 2018, Jersey City is selectively challenging assessments on vacant land, multifamily, and industrial properties. This new initiative is in full swing and… Read more »