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New Jersey law permits taxpayers to file for a lower property tax assessment if their home or business building lost significant value from an intentional act or natural disaster such as a hurricane.
“People who have lost so much are not required to pay their full property tax bill on buildings that have been badly damaged or no longer exist after Hurricane Sandy,” Dancer, R-Ocean, Burlington, Middlesex and Monmouth, said. “It’s very important that property taxpayers, whether a home or business, send a notice to their local assessor if their property has lost significant value.”
New Jersey taxes property on the its value as of Oct. 1 and allows property owners to file notice if the structure lost significant value after that date due to intentional act or a storm, fire cyclone, tornado, earthquake.
Owners of property damaged or destroyed by Hurricane Sandy must notify their assessor before Jan. 10, 2013 in order to ensure a new assessment.
With the extensive damage caused by Hurricane Sandy, Dancer urged local officials to work with property taxpayers affected by the storm and said he will work toward reducing the burdens on people recovering from the storm.
“Local officials know their communities best. They know who needs assistance during this unprecedented devastation,” Dancer said. “Although I trust local officials will use compassion and sound judgment when so many people are in need the best way property taxpayers can protect themselves from paying full property taxes on storm-damaged property is by sending in a notice of an appeal as soon as possible.”
Dancer said he will keep his constituents informed of important deadlines, rules and laws as New Jersey recovers from Hurricane Sandy.
Assemblyman Ronald S. Dancer / 609-758-0205
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