Under New Jersey law (N.J.S.A. §54:4-35.1), a property owner with a building or other structure that suffered significant damage or destruction as a result of Hurricane Sandy may be entitled to property tax assessment relief for the 2013 tax year. The property owner must notify the tax assessor for the taxing district in which the property is located of the damage prior to January 10, 2013. The tax assessor shall "after examination and inquiry" determine the value of the property and assess the property according to such value. It is recommended that any such notification contain a specific description of the damage and any repair estimates or insurance claim information. A property tax professional may also be consulted. Any correspondence to the assessing authority should be sent by certified mail or some other method to verify receipt. If the final 2013 assessment does not take into account the property damage, the taxpayer may file an assessment appeal by April 1, 2013, or by May 1, 2013, in taxing districts where district-wide revaluations have been implemented.
Craig Gianetti will be a featured panelist at the New Jersey Builders Association's Legal "Hot Topics" Seminar on October 20.
Day Pitney Alert
Day Pitney Alert
Christopher Stracco and Katharine Coffey authored an article, "Bankruptcy Sale Does Not Obviate Chapter 91 Compliance," for Law360.
Christopher Stracco, Craig Gianetti and Katharine Coffey authored an article, "A Movement in New Jersey to Protect Land Use Applicants from Sham Litigation by Business Competitors," for Law360.
Real estate partner Craig Gianetti was quoted in an article titled "NJ Affordable Housing Trial May Signal Fate of Later Cases" (subscription required) that was published by Law360.
Real estate partner Craig Gianetti was quoted in an article titled "Affordable Housing Developers Anxious amid Tax Uncertainty" (subscription required) that was published by Law360.
Day Pitney Press Release
Christopher Stracco was elected Treasurer of the New Jersey Interest on Lawyers Trust Accounts (IOLTA) by its Board of Trustees. IOLTA is a unique and innovative way to increase access to justice for individuals and families living in poverty and to improve our justice system. Stracco's term as Treasurer expires on February 28, 2017. Chris was appointed to the IOLTA Board of Trustees by the New Jersey Supreme Court in 2014.
On February 11, Christopher Stracco was appointed to the Board of Trustees of client Green Hill, Inc.