NJ Residential Tax Appeal - Competent Appraisers Please Help

[surg255]

My potential client is a homeowner appealing his assessment with out legal counsel. I am considering taking the residential tax appeal assignment. Report will be submitted as evidence to the Union County Tax Board and I am to provide expert testimony. I have a few gaps in experience below. I don't want to get tripped up on assignment narrative parameters. Could some competent senior appraisers with a good number of appeals under their belt help by laying out some report worthy narrative and advice? Thank you in advance for you help and experience!

Report Format: What level reporting should be used? Should report be in a narrative style or form?

Intended User(s): Who are intended users?

Intended Use:

Value Definition: Is this different than market value? State and county appeal guides refer to True Value Standard. Should "True Value" the Defined Value and where can I obtain a definition for this?

Effective Value Date: October 1, 2014 (Filing for 2015 appeal. Is this correct?)

 

[dobie]

Asking for assistance is a good first step but it sounds like you may be in a little over your head.

You are going to provide "expert testimony" yet admittedly you have never done any tax appeal work. Do you see the dichotomy?

Your lack of experience is a disservice to the client and you really need to enlist someone that can take this assignment and you can work alongside to its conclusion.

My 2 cents

 

[surg255]

Reply to Dobie

I appreciate your 2 cents and your reply. I am not here to pass judgement but for the benefit of sharing knowledge and experience.

Competency in valuation methodology is not in question.

However, I am not competent laying down clean narrative to accurately define assignment parameters below:

Report Format: What level reporting should be used? Should report be in a narrative style or form?

Intended User(s): Who are intended users?

Intended Use:

Value Definition: Is this different than market value? State and county appeal guides refer to True Value Standard. Should "True Value" the Defined Value and where can I obtain a definition for this?

Effective Value Date: October 1, 2014 (Filing for 2015 appeal. Is this correct?)

I'm sure this post can benefit many appraisers.

In the spirit of collaboration I found an excellent you tube video to share. Its put together by the NAIFA featuring an attorney and a nj tax court judge's insight to the tax appeal process. Its a 2 hour 10 part video series. Personally message me for link. The forum will not allow me to post a link yet.

Could anyone kindly share knowledge and experience I am seeking? Thanks in advance!

 

[smallface]

Use a gpar or non lending form
Intended user is the property owner
Intended us is tax appeal
use market value
10/01/2014 is correct

 

[surg255]

I talked with other appraisers that have ran into problems because they have used a lending form. The boiler plate lending language wasn't appropriate for a tax appeal.
To put your post into application would the following be considered correct?

Intended User: John Smith
Intended Use: To establish market value of subject for the purposes of tax assessment appeal.
Value Type: Market Value. Should I use the definition contained in the NJ Tax Appeal Law Statues? Or, definition from an appraisal book?

 

[Mike Kennedy]

surg255 - pls confirm whether you are a state licensed or certified real estate appraiser? Thank you.

 

[surg255]

certified general

 

[Walter Kirk]

Use a gpar or non lending form
Intended user is the property owner
Intended us is tax appeal
use market value
10/01/2014 is correct

These answers are correct however you should be aware of some other factors. (1) Your client may be better off having an informal meeting, with you in attendance, during the month of November before the assessor submits his 2015 tax list in December. The assessor may agree with your client and adjust the assessment. (This is a long shot but I have had success with I)t. (2) If your client files the appeal in 2015 the local assessor should be contacted prior to a hearing to possibly negotiate a settlement. (3) If you do attend a tax appeal hearing be sure to discuss all of the relevant facts about the subject
since many tax commissioners only consider the comparable sales.

Remember that you are not dealing with appraisers so keep it simple and direct.

 

[surg255]

reply to small face

Use a gpar or non lending form
Intended user is the property owner
Intended us is tax appeal
use market value
10/01/2014 is correct

Can you elablorate a bit more on intended use? It would be helpful if you could provide a full narrative statement that is report ready.

 

[surg255]

Reply to Walter

These answers are correct however you should be aware of some other factors. (1) Your client may be better off having an informal meeting, with you in attendance, during the month of November before the assessor submits his 2015 tax list in December. The assessor may agree with your client and adjust the assessment. (This is a long shot but I have had success with I)t. (2) If your client files the appeal in 2015 the local assessor should be contacted prior to a hearing to possibly negotiate a settlement. (3) If you do attend a tax appeal hearing be sure to discuss all of the relevant facts about the subject
since many tax commissioners only consider the comparable sales.

Remember that you are not dealing with appraisers so keep it simple and direct.

Thanks for the suggestions. Walter can you provide some report ready narrative for intended use/ purpose?