For New Jersey businesses that own commercial real estate, property taxes are often one of the largest operating expenses. When a property is overassessed, the resulting overpayment compounds year after year — and most owners never challenge it.
How Commercial Properties Are Assessed in NJ
New Jersey municipalities assess commercial properties based on their estimated market value, using income, cost, or sales comparison approaches. Commercial properties present more complexity than residential assessments — and more opportunity for error, and more opportunity for appeal.
Grounds for a Commercial Tax Appeal
- The assessed value exceeds the property’s actual fair market value
- Comparable properties in the municipality are assessed at lower values
- The income approach used by the assessor doesn’t reflect actual rental income or vacancy
- Physical changes to the property haven’t been reflected in the assessment
- Assessment increased significantly without corresponding market appreciation
- Classification errors — e.g., retail space assessed as something else
What a Successful Appeal Means for Your Bottom Line
Consider a commercial property assessed at $2 million with an effective tax rate of 3%. That’s $60,000 annually in property taxes. A successful appeal reducing the assessment to $1.5 million saves $15,000 per year — every year until the assessment is revised again.
Bruno Law Group’s Commercial Tax Appeal Practice
Attorney Paolo Bruno has represented commercial property owners in NJ tax appeals involving office buildings, retail centers, industrial properties, and mixed-use developments. We evaluate your assessment, identify the strongest grounds for appeal, engage qualified appraisers, and represent you through the entire process.
Is your commercial property overassessed? Contact Bruno Law Group for a free evaluation.
Call: (201) 720-9972 | Email: info@brunolawgroup.com | Visit: brunolawgroup.com
