555 Grand Avenue, P.O. Box 7286, Trenton, NJ 08628
Tel: (609) 278-1001 | Tel: (856) 216-8271 | Fax: (856) 354-0869

Assessments/Tax Reductions
In accordance to Title 54, New Jersey State Law

PT-7

Property Tax Assessment Service

 

Questions

Q. Who is Property Tax Assessment Service (PTAS)?

A. Property Tax Assessment Service was established in 1991. We employ CTAS (Certified Tax Assessors), reducing municipal assessments/property taxes, economically by applying chapter 123, title 54, laws of taxation.

Q. How effective is the program?

A. 95%, when assessment is incorrect.

Q. Is my filing fee refundable if no reduction is granted?

A. Yes, if no reduction in your assessment occurs, your filing fee is returned.

Q. How many years is my assessment good for after correction according to chapter 123, title 54?

A. Until your town goes through a revaluation/reassessment. On average it’s between 7 – 10 years, could be within a 3 year period.

Q. Does this program provide substantial saving?

A. It will probably become one of the best financial decisions, according to generally accepted accounting practices. Your first years saving is multiplied by 13.25 to give you an approximate savings for 10 years, (includes interest, over-payment and average tax rate increases in that 10 year period).
Yearly savings of $350.00 x 13.25 would be $4,637.50

$500.00 –> $6,625.00
$1000.00 –> $13,250.00
$2000.00 –> $26,500.00

Q. What services do I receive from PTAS?

A. Service is our strongest asset. All service calls are answered by a state trained assessor guiding you through each step of the process.

Q. Why isn’t my assessment reduced by my municipality?

A. Your assessor has the presumption of correctness on his/her side. The burden of proof falls on the homeowner.

Q. Can my assessment go up as a result of this report?

A. No. Assessments can only increase upon major improvements to your property. Normal maintenance cannot raise your assessed value. I.e.: replacing a roof, floors, cabinets, counters, windows or any normal fixing up and repairing.

© 2015 Property Tax Assessment Service