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Updated over 3 years ago on . Most recent reply

User Stats

47
Posts
7
Votes
Vidyadhar R.
  • Investor
  • Trenton, NJ
7
Votes |
47
Posts

can taxes be waived off or reduced?

Vidyadhar R.
  • Investor
  • Trenton, NJ
Posted

Dear members, I'm looking at a commercial property in central NJ which has been vacant for a while. The taxes are currently $10k/yr for 1500sft. The agent advised that I ask an attorney to file a request w/ town to waive off the taxes or reassess to reduce them because they're exorbitant. Is this possible? Does it actually work? Considering the property has been vacant for more than a year the advice makes sense but I'm not sure how practical it is to accomplish reducing taxes. If anyone has addressed such a situation, kindly advise so I can perform due diligence using right assumptions. TIA

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