Over-Assessed Property Tax Appeal Deadline is August 1st
The COVID-19 pandemic is adversely affecting the fair market value of commercial, retail, office and residential real estate throughout the region. Accordingly, there is a likelihood that you will be paying excessive real estate taxes because your property is over-assessed. The real estate market typically lags the overall economy by 6 months. Commercial, retail and office landlords may not start seeing reductions in their property values until the end of this year, with tenants defaulting on lease payments and possibly even abandoning their locations.
Although each county sets its own tax assessment appeal deadline, generally the deadline is August 1st, and any appeal filed before this deadline is for the following years’ tax obligations. Consequently, it will be beneficial to file your appeal this year, even before any drop in value.
Semanoff Ormsby Greenberg & Torchia, LLC is a full-service law firm with extensive experience in real estate tax appeals which can result in a significant reduction in your Real Estate Property Taxes, including your School District Taxes, County Taxes and Township/Borough Taxes.
We are prepared to examine your real estate tax assessment at no charge to determine whether you have a tax assessment appeal worth pursuing. If you are interested in the possibility of filing an appeal, please contact us at your first convenience, as the deadline for most counties, including Bucks and Montgomery, is August 1st.