| Author |
Message |
    
Kibbegirl
Citizen
Username: Kibbegirl
Post Number: 339
Registered: 5-2003
| | Posted on Sunday, January 29, 2006 - 11:52 am: | 
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We purchased a new home last year and will be moving soon. Recently, we received a "bill" from Property Tax Assessment Service in Trenton, NJ asking us to list the amount paid for the home, sales date, approximate age of home, etc. and then for us to report a "fee" based on purchase price. It looks like a short SAT test where you answer yes/no and fill the boxes. Is this legit? I don't recall receiving this when we purchased our first home. Anyone else receive this who has recently purchased a home? |
spysonic
Citizen
Username: Spysonic
Post Number: 76
Registered: 4-2005
| | Posted on Sunday, January 29, 2006 - 1:01 pm: |
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Yep, I got one of those too. But my understanding was that it was an independent service where not affiliated with any govt. agency. They calculate your tax assessment based on a variety of factors i.e purchase prices, sale date, etc...
They are basically offering you a service (paid) where they will estimate your tax which can be used to compare with your township info. Don't see much value in that.}
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Bob K
Supporter
Username: Bobk
Post Number: 10460
Registered: 5-2001
| | Posted on Sunday, January 29, 2006 - 1:24 pm: |
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Such a service might be of some value if you are planning on filing an appeal with the county tax board based on the assumption your house is overassessed in comparison with the sale price or that the assessment is based on eroneous information.
Here in NJ an assessment doesn't change when a house is sold.
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AdamMosk
Citizen
Username: Adammosk
Post Number: 49
Registered: 1-2005
| | Posted on Monday, January 30, 2006 - 2:17 pm: |
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I live in SH and received the same notice when I moved in about 3.5 years ago. PTAS is a private service. The analysis they perform is basically comparing the purchase price of the home to the assessed taxable value and seeing if you are being taxed at too high a value. The service is reasonable (<$100 if I remember correctly) and they provide an analysis of what legally you should be paying "in a perfect world". Its up to you to file a complaint with the essex county board of taxation. Based on that process you may have to go to tax court. The people at PTAS are very helpful and answered as many questions as I could come up with. My case is in tax court but I expect positive results. Its easy to perform a best case analysis to see what you would save a year and then you need to decide if you want to fight the good fight. |
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