Tax Assessments

Cape May County property owners receive a green postcard each year stating the tax assessment for their property.  It’s not a new figure each year- unless the owner challenged the assessment or the town was recently re-assessed (Stone Harbor for example).

In years with appreciating values, we didn’t give these figures much thought.  However, with the assessments established during the “boom years”, the old values are often out of line with the current market.

Property owners have the right to challenge the assessment through the Cape May County Board of Taxation.  Visit the web site for additional information:  http://www.capemaycountygov.net/Cit-e-Access/webpage.cfm?TID=5&TPID=439

A few tips:  Owners must prove fair market value as of October 1, 2009.  Therefore, comparable sales to support value should be between 10/1/08 and 10/1/09.  There is a 15% leeway of assessment to fair market value- an appeal of value of 15% or less will not be successful. 

I am happy to e-mail you comparable sales within the permitted dates for your neighborhood.    Drop me a note  ann@anndelaney.com  with your request.