Tax Appeals and Appraisals

[Michael Krassos]

Hi all, finally bought my first multi-family, Yay! I believe I have a good case to have my taxes lowered. Property is in Bergen County, NJ. I was referred to an appraiser who will take care the whole process. His fees include; conducting an appraisal (he is a licensed appraiser), filing paperwork, court fee, and representation at court. He will do all this for a flat fee of $500. Question, is an appraisal necessary, normal? Is this just his way to gain additional business? What are my alternate options? I think I could go to an attorney but understand they will charge 40-50% of annual savings anyway, which is about what I will pay this appraiser. Thoughts?