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 »
David Wolfe, Co-Managing Partner of Skoloff & Wolfe, P.C., has been recognized by Best Lawyers for his work in Tax Law. He is a property tax appeal attorney for commercial, industrial, and multi-family property owners. Recognition by Best Lawyers is entirely based on peer review (methodology can be found here); tens of thousands of lawyers… Read more »
New Jersey is one of the nation’s leading hubs for life sciences companies, including pharmaceutical, biotech, and beyond. The COVID pandemic has only enhanced that status, favoring domestic pharmaceutical production over international production. That is only one of the effects of a recent boom of development in the life sciences, not only in the Princeton… Read more »
A growing number of municipalities in New Jersey are suing commercial property owners to increase property tax assessments. Commercial property tax reverse appeals are among the most significant and controversial issues that pose the greatest potential risk for buyers and owners of commercial property in the Garden State. Whether driven by external counsel motivated by… 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 »