New Jersey is one of a handful of states where it is possible to appeal the tax assessment of somebody else’s property—challenges that could soon be eliminated under a proposal winding through the state Senate.
Hospitals and nonprofits strongly support the measure, saying they can’t afford the risk of third-party challenges to their tax exempt status, also legal under current law.
The legislation also specifically says that taxpayers and taxing districts can’t challenge a financial agreement negotiated between a municipality and a nonprofit entity, Susan A. Feeney, a partner in McCarter & English LLP’s tax and employee benefits practice group who focuses on state and local property tax matters, told Bloomberg BNA.