By Lea Kahn, Staff Writer
More than 100 Lawrence Township property owners — including some of the largest commercial property owners — have filed tax appeals contesting their property tax assessments for 2009, according to Municipal Manager Richard Krawczun.
The list of property owners that filed tax appeals by the April 1 deadline includes Bristol-Myers Squibb Co., the Quaker Bridge Mall and the four anchor stores, the Mercer Mall and the rental apartment development at Yorkshire Village.
The combined assessed value of the 107 property owners who have filed tax appeals is $556 million, Mr. Krawczun said. The total assessed value of all properties in Lawrence Township — which includes residential and nonresidential properties — is $2.68 billion.
Mr. Krawczun said a handful of commercial properties make up the bulk of the $556 million in assessed value that is under appeal. Bristol-Myers Squibb Co.’s property is assessed at $189 million for property tax purposes, and the Mercer Mall is assessed at $35 million.
The Quaker Bridge Mall is assessed at $90 million, and the J.C. Penney and Lord & Taylor department store properties are assessed at $11 million each. The Sears department store property is assessed at $11.8 million, and the Macy’s department store property is assessed at $13.7 million, Mr. Krawczun said.
The Yorkshire Meadows properties — which include rental units and age-restricted apartments — have a combined assessed value of $16.6 million. The four parcels are located behind the Mercer Mall.
“It is too early to predict the impact (of the tax appeals),” Mr. Krawczun said. “There is a lot of information that has to be reviewed on the large commercial pieces such as these. Part of the total ($556 million being appealed) includes prior years’ tax appeals, but the majority occurred this year.”
Some of the property tax appeals could be dismissed by the Mercer County Board of Taxation, Mr. Krawczun said. But a tax appeal that involves a property whose assessed value exceeds $750,000 would be heard in New Jersey Tax Court, he said.
A property tax appeal could be dismissed for several reasons, including unpaid property taxes or missing the April 1 filing deadline, Mr. Krawczun said. Commercial property owners also must file income and expense documentation annually. If that information has not been provided, the appeal could be dismissed.
Mr. Krawczun said the Lawrence Township Tax Assessor’s Office and the Municipal Attorney’s Office would begin filing motions to dismiss property tax appeals this week after reviewing the information.
The pace of tax appeals has stepped up this year, Mr. Krawczun said. About 20 to 30 tax appeals are filed in a typical year, but more property owners feel the assessed value of their properties exceeds fair market value, he said.
“It is that straightforward,” Mr. Krawczun said.
Lawrence Township has not undergone a property revaluation since 1993, he said. The goal of a property revaluation is to ensure a property is assessed at 100 percent of its fair market value, which is defined as the amount of money a willing buyer would pay to a willing seller.
But over time, property values may increase. The average assessment in Lawrence is about 47 percent of a property’s fair market value, although many property owners feel their property taxes are too high, Mr. Krawczun said. He cautioned a property owner may appeal the property’s assessed value — not the property tax bill.
Mr. Krawczun said it would be up to the Mercer County Board of Taxation to determine when Lawrence should undergo a property revaluation. The county tax board tries to balance the need to order a countywide revaluation against the limited number of revaluation companies available to handle the project, he said.
“You don’t want a situation where all municipalities (in a county) are performing revaluations simultaneously,” Mr. Krawczun said.

