Murphy Schiller &; Wilkes LLP (MSW) is pleased to announce that firm partner Chris Murphy has been named to the NJBIZ Law Power 50, a list which includes the 50 most influential men and women in New Jersey’s legal profession.
The full Power 50 list can be found here: https://njbiz.com/presenting-the-2022-njbiz-law-power-50/
While the second quarter of 2022 was filled with some uncertainty caused by rising interest rates, the Murphy Schiller & Wilkes (MSW) transactional team remained incredibly busy, helping our clients close significant deals, both locally and nationally.
In Q2 2022, the firm represented the following:
Murphy Schiller & Wilkes LLP (MSW) is proud to have played an important role in what was recently awarded “Mixed-Use Deal of the Year” at NAIOP’s 35th Annual Gala. The HalRay Newark Portfolio is a three-building portfolio totaling approximately 800,000 SF of office/retail space with a 901-space parking deck in Downtown Newark, New Jersey.
The sponsors have planned around $40M of capital improvements with the focus of social and economic impact in mind. The goal is to drive further activity along the Halsey Corridor with the end goal of radiating that activity throughout the city. MSW acted as lead counsel in connection with multiple aspects of the deal, including the acquisition, financing, and leasing. Congratulations to everyone involved in this exciting deal, including the Hanini Group, Shift Capital, Colnvestment Partners, and JLL Capital Markets.
On Thursday, April 28th, the Newark Zoning Board of Adjustment granted preliminary and final site plan approval, along with certain variance and waiver relief, in connection with the development of a 4-story mixed-use building in the City’s C-1 Neighborhood Commercial Zoning District.
Roosevelt J. Donat, Esq. led the firm’s successful efforts on behalf of the development team, which included architect Alexander Elias, engineer Josh Kline of Stonefield Engineering, and planner John McDonough.
The first quarter of 2022 picked up right where 2021 left off.
The Murphy Schiller & Wilkes (MSW) transactional team helped clients close significant deals, both locally and nationally, including the following:
On Monday, March 21st, the Mount Holly Planning Board granted preliminary and final site plan approval, along with certain variance and waiver relief, in connection with a proposed car wash along Route 38.
Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team, which included Joshua Sewald of Dynamic Engineering, Justin Taylor of Dynamic Traffic, and Christopher Tait of B. Tait Builders LLC.
Critical tax appeal deadlines are quickly approaching, and commercial property owners need to be prepared to file tax appeals for 2022 or defend against increase cases to get much needed property tax relief. The Property Tax Appeal group at Murphy Schiller & Wilkes LLP have already begun obtaining taxpayers property tax relief for 2022 and are currently providing free consultation to property owners considering an appeal this year. Failure to meet the important tax appeal filing deadlines may completely bar your right to file a property tax appeal this year. Below is an overview of the strict filing deadlines and process.
Notice of Assessment – February 1, 2022 Taxpayers typically receive the Notice of Assessment by the first week of February. The Notice of Assessment will contain important information regarding your assessment. It lists the 2022 assessment for your property, the prior year’s assessment, and the prior year’s taxes. However, it does not include the taxes due for 2022 based on the new tax assessment. Importantly, you will not know the taxes you owe for 2022 until the third quarter of 2022, after the deadline to appeal. The decision to appeal is based solely on the assessment and its relationship to market value, not on the amount of taxes due.
Appeal Deadline – April 1, 2022 After receiving your Notice of Assessment, there is a very small window of time to consider whether to file an appeal. Unless the municipality has undergone a municipal-wide revaluation or reassessment, the strict deadline for taxpayers to file an appeal directly to the New Jersey Tax Court is the later of April 1, 2022, or 45 days from the date the bulk mailing of the Notice of Assessments is completed. This is also the deadline to file an appeal to the County Board of Taxation in every county except Monmouth County. Filing deadlines are strictly enforced. Failure to meet the filing deadline may completely bar your right to appeal your assessment for 2022 regardless of the unfairness of your assessment and tax burden.
Revaluation Deadline – May 1, 2022 The deadline to file an appeal in the New Jersey Tax Court and the County Board of Taxation for municipalities that have undergone a municipal-wide revaluation or reassessment is the later of May 1, 2022, or 45 days from the date the bulk mailing of the Notice of Assessments is completed. Notable municipalities that have undergone a revaluation or reassessment for 2022 are:
Where to file If the assessment is over $1,000,000, the taxpayer may file an appeal in either the Tax Court of New Jersey or the County Board of Taxation of the county where the property is located. If the assessment is $1,000,000 or less, the taxpayer must file with the County Board of Taxation.
Increase Cases The tax appeal group continues to defend against increase cases filed by the municipalities seeking to increase assessments. As the real estate market remains strong, increase cases have become commonplace in recent years, in particular in municipalities such as Newark, Jersey City, Linden, and Elizabeth. In many cases, municipalities are seeking to more than double the assessment on these properties. It has also become common for assessors to aggressively increase assessments after sales or upon development approvals. Taxpayers need to be on alert for these significant, and often unexpected, increases.
Deciding whether to appeal Deciding whether to file a property tax appeal requires careful analysis and consideration of your tax assessment, as adjusted by the applicable county equalization ratio, and its fairness in relationship to the true market value of the property. Importantly, in New Jersey, a municipality has the right to file a counterclaim to seek to increase your assessment if it determines you are under assessed. Therefore, failure to properly evaluate your case prior to filing may prove costly. It is vital to use experienced legal counsel to review your assessment to determine the risks and benefits prior to filing an appeal in order to understand the tax relief available and to avoid an unwanted tax increase. As market and property conditions fluctuate each year, it is vital to reexamine your property on an annual basis for eligibility for a tax appeal.
Consultation To determine whether your property may be eligible for an appeal, the experienced team at Murphy Schiller & Wilkes LLP is ready to provide a complimentary evaluation of your property. If we determine that an appeal will be beneficial, we will recommend a strategy to reduce your tax burden and can file and pursue your appeal. As a dedicated commercial real estate firm, our team has invaluable insight into the real estate market and has successfully litigated the value of virtually all property types. Our team also has considerable experience advising on tax exemptions, or other tax incentive programs, that may be available to reduce the property tax burden outside of the appeal process. Our experience and deep broad-based knowledge allow us to consider all options that may be available to potentially reduce your tax burden.
For additional information concerning our property tax appeal services, or to request an evaluation of your property, please contact:
THOMAS S. DOLAN
Partner – Property Tax Practice Leader
(973) 705-7412
tdolan@murphyllp.com
On Wednesday, February 23rd, the Joint Land Use Board of the Borough of Middlesex approved plans for the development of an 87,575 square foot industrial building in the IND Industrial Zone District. The Board granted Preliminary and Final Major Site Plan approval, along with waiver relief in connection with the proposed development.
Chris J. Murphy, Esq. led the firm’s successful efforts on behalf of the development team, which included Joshua Sewald of Dynamic Engineering and Corey Chase of Dynamic Traffic.
On Thursday, February 3rd, the City of Newark Zoning Board of Adjustment granted preliminary and final major site plan approval, along with variance relief in order to permit the construction of a 5-story, 48-unit mixed-use development in the City’s Central Ward. The Board granted variance relief for use, density, and height.
Roosevelt J. Donat, Esq. led the firm’s successful efforts on behalf of the development team, which included architect Patrick Lesbirel from Brick City Reconstruction, engineer Trevor Curtis from L2A Land Design, and planner John McDonough.
