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  • Feb 19, 2020Property Tax Appeals Can Save You Money in 2020

    One obvious reason for filing real estate property tax appeals is to obtain a lower assessment on your real property and thereby save significant tax dollars. Another important reason to lower your assessment and taxes is to help maintain the value of the property by making it more marketable to potential buyers.

    Property owners often believe that their property is worth an amount equal to the assessment on the property. This misconception leads owners to overlook the different ratios of assessed value to true value applicable in each of the assessing districts of New Jersey and the fact that these ratios generally decline each year. For example, if a property worth one million dollars this year is located in a municipality with a 60% ratio, it should be assessed at $600,000 this year. If that ratio drops to 54% next year, its assessment should be $540,000. If the ratio drops, but the assessment remains high, it may be time for an appeal. The revaluation of all property within a municipality may increase the possibility of over-assessment on larger commercial and industrial parcels.

    Taxpayers with assessments in excess of $1,000,000 can file an appeal for direct review of their property’s assessed valuation by the Tax Court of New Jersey, without first filing an appeal with the local county tax board. Tax appeals on assessments of less than $1,000,000 must first be filed with the county tax board.

    If the taxpayer prevails in securing a tax appeal judgment reducing its assessment, the “Freeze Act” binds the municipality for the years covered by the tax appeal plus two additional years, subject to two exceptions. The first exception is a complete revaluation of all real property in the municipality. The second exception is proof by the municipality of a substantial increase in the property’s value. These exceptions aside, the assessment is frozen at the reduced level, at the taxpayer’s sole option. Thus, if a taxpayer wishes to appeal for a further reduction during the freeze period, he or she is free to do so.

    These points are merely intended to scratch the surface of this area of the law. This should also help to explain why property owners should have their tax assessments reviewed by legal counsel each year to determine whether a tax appeal is warranted. The experienced attorneys at Norris McLaughlin can help you review and analyze your real property valuations to determine if an appeal makes sense.

    For all counties, other than Monmouth and Gloucester, the deadline to file a tax appeal in 2020 is April 1st. For all towns subject to a revaluation or reassessment (other than those towns in Monmouth and Gloucester Counties), the deadline is extended to May 1, 2020.

    For additional information, contact one of our tax appeal attorneys, Nicholas F. Pellitta, Timothy P. McKeown, or Andrew D. Linden.

    This Real Property Tax Appeals Alert provides information to our clients and friends about current legal developments of general interest in the area of real property tax appeals law. The information contained in this Alert should not be construed as legal advice, and readers should not act upon such without professional counsel. Copyright © 2020 Norris McLaughlin, P.A.

    Posted in: Andrew D. Linden, Nicholas F. Pellitta, Real Estate & Finance, Taxation, Timothy P. McKeown |

  • Jan 03, 2018Timothy McKeown Elected to Board of Trustees for Raritan Valley Habitat for Humanity

    Timothy P. McKeown, a Member of the law firm Norris McLaughlin, P.A., has joined the Board of Trustees for Raritan Valley Habitat for Humanity.  His three-year term began on November 27, 2017.

    Habitat for Humanity partners with low income people in the community to help them build or improve a place they can call home.  The organization has built 50 affordable homes in Hunterdon and Somerset counties since its founding 25 years ago, and three houses are currently under construction.

    A resident of Hillsborough, McKeown concentrates his practice on a variety of civil and commercial litigation with an emphasis on real estate related matters, centered on real estate contract disputes, contractor disputes, construction lien and title issues, foreclosure, partition actions, and access issues under New Jersey environmental statutes. McKeown has extensive experience handling commercial lease negotiations and related disputes and has tried scores of bench trials, as well as jury trials, throughout his career on behalf of commercial landlords, tenants, and others.

    In addition to his litigation practice, McKeown has extensive experience representing sellers and purchasers in commercial real estate transactions.

    McKeown also serves as President on the Board of Directors of the ARC of Somerset County, an organization that serves individuals with developmental disabilities and their families from birth through the senior years of life through its many programs and services in Somerset County.

    McKeown earned his J.D. from New York Law School and his B.A. from Penn State University.

    Posted in: News, Timothy P. McKeown | Tags: , , , ,

  • Jul 09, 2015Timothy McKeown Elected President of the Arc of Somerset County

    Timothy P. McKeown, a Member of the Bridgewater-based law firm Norris McLaughlin, P.A., was recently elected President of the Arc of Somerset County.

    “I am honored and excited to take on this leadership opportunity as President of the Arc of Somerset County. I look forward to working with our talented team and contributing to the important work the Arc does in assisting individuals with disabilities and their families,” said McKeown.

    The Arc provides quality services and advocacy for individuals with intellectual and developmental disabilities and their families to support development and achievement at every stage of life. The Arc, which is celebrating more than 40 years of service to the community, currently operates 33 separate program locations, serving more than 1,000 children and adults with disabilities with over 325 employees and more than 500 volunteers.

    McKeown, a resident of Hillsborough, concentrates his practice on a variety of civil and commercial litigation with an emphasis on real estate-related matters.  On behalf of his clients, he handles matters involving commercial lease disputes, real estate contract disputes, contractor disputes, construction liens, title issues, foreclosure, partition actions, consumer fraud claims, and commercial equipment leasing. His experience includes pretrial procedure, trials and appellate practice in state and federal courts. He has argued civil appeals before the Appellate Division of the New Jersey Superior Court and the Third Circuit Court of Appeals.

    In addition to his litigation practice, McKeown represents sellers and purchasers in commercial real estate transactions.

    McKeown is the author of New Jersey Real Estate Dispute, a blog located at www.njrealestatedispute.com, which provides businesses and individuals with timely information about the law as it pertains to the real estate industry. He is also an Associate Member of the New Jersey Chapter of the National Association of Industrial and Office Properties, where he serves on the group’s Legislative Committee.

    Posted in: News, Timothy P. McKeown |

  • Feb 27, 2013Timothy McKeown Appointed to Board of Directors of the Arc of Somerset County

     

    February 27, 2013

    Norris McLaughlin, P.A.
    721 Route 202-206
    P.O. Box 5933
    Bridgewater, NJ 08807-5933
    Contact: Edward C. Miller, Jr.
    Chief Marketing Officer
    (908) 722-0700 x4224
    ecmillerjr@nmmlaw.com


    Timothy McKeown Appointed to Board of Directors of the Arc of Somerset County

    Bridgewater, NJ (February 27, 2013) – Timothy P. McKeown, a Member of the Bridgewater-based law firm Norris McLaughlin, P.A., was recently appointed to the Board of Directors of the Arc of Somerset County.

    “I am excited to join the Board of the Arc, and I look forward to contributing to the important work the Arc does in assisting individuals with disabilities and their families,” said McKeown.

    The Arc provides quality services and advocacy for individuals with intellectual and developmental disabilities and their families to support development and achievement at every stage of life. The Arc, which is celebrating its 40th anniversary of service to the community, currently operates 45 separate program locations, serving more than 1,000 children and adults with disabilities with over 325 employees and more than 500 volunteers.

    McKeown, a resident of Hillsborough, concentrates his practice on a variety of civil and commercial litigation with an emphasis on real estate-related matters.  On behalf of his clients, he handles matters involving commercial lease disputes, real estate contract disputes, contractor disputes, construction liens, title issues, foreclosure, partition actions, consumer fraud claims, and commercial equipment leasing. His extensive experience includes pretrial procedure, trials and appellate practice in state and federal courts. He has argued civil appeals before the Appellate Division of the New Jersey Superior Court and the Third Circuit Court of Appeals.

    In addition to his litigation practice, McKeown has extensive transactional experience representing sellers and purchasers in commercial real estate transactions.

    In 2010, McKeown launched New Jersey Commercial Real Estate Disputes, a blog located at www.nmmlaw.com/category/nred/, which provides businesses and individuals with timely information about the law as it pertains to the commercial real estate industry. McKeown is also an Associate Member of the New Jersey Chapter of the National Association of Industrial and Office Properties, where he serves on the group’s Legislative Committee.

    McKeown earned his J.D. from New York Law School and his B.A. from Penn State University.

    Posted in: News, Timothy P. McKeown |

  • May 12, 2010Timothy McKeown Joins Legislative Committee of Commercial Real Estate Development Association

     

    Timothy P. McKeown, a Member of the Bridgewater-based law firm Norris McLaughlin, P.A., has become a member of the Legislative Committee for the New Jersey Chapter of the National Association of Industrial and Office Properties (NJ-NAIOP). The Legislative Committee of NJ-NAIOP reviews legislation to assess industry impact, recommends positions on bills and suggests legislative action consistent with NJ-NAIOP’s public policy agenda.

    National Association of Industrial and Office Properties, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. NAIOP provides unparalleled industry networking and education, and advocates for effective legislation on behalf of our members. NAIOP advances responsible, sustainable development that creates jobs and benefits the communities in which our members work and live. NAIOP New Jersey is committed to improving the professionalism of the individual, the image of the industry and the quality of life in our communities.

    McKeown, a resident of Hillsborough, concentrates his practice on civil and commercial litigation with an emphasis on commercial real estate related matters. He represents businesses and individuals in court litigating summary dispossess matters in a commercial setting (representing landlords or tenants), commercial collection matters, construction liens, disputes in connection with the sale or purchase of commercial real estate, and other real estate related matters, as well as business disputes, contract enforcement actions, and replevins for commercial lenders. Some of the issues McKeown has dealt with in his commercial real estate litigation practice include non-payment of rent, abandonment of leased premises, eminent domain, mold contamination, site contamination, lease condemnation, and illegal use of premises by tenants. His experience involves all stages of litigation, including pretrial procedure, trials (jury and non-jury) and appellate practice in state and federal courts, including the United States Bankruptcy Court. He has argued civil appeals before the Appellate Division of the New Jersey Superior Court and the Third Circuit Court of Appeals.

    In addition to his real estate related litigation practice, McKeown has substantial experience in commercial and residential real estate transactions including the negotiation of contracts for the purchase and sale of real estate, lease negotiations, and land use and zoning applications.

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    Posted in: News, Real Estate & Finance, Timothy P. McKeown |

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