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SAMPLE

PropGap — Assessment Audit Report

123 Main Street, Anytown, NJ 07000Bergen County

March 18, 2026

Page 1 of 4  ·  SAMPLE

NJ Chapter 123 Assessment Audit

Assessment Overview

123 Main Street, Anytown, NJ 07000

Appeal Deadline

May 1, 2026

⚠️ Over-Assessment Detected

Assessment Gap

$110,000

Your home is assessed 25.6% higher than comparable homes sell for.
This is the gap — not your savings.

Est. Annual Tax Savings If Successful

$2,310

Gap × 2.1% NJ effective rate. Not a guarantee.
Outcome determined by County Board — not PropGap.

Your Assessed Value

$540,000

$225/sqft

Equalized Market Value

$430,000

$179/sqft · median of 8 comps

Over-Assessment Gap

$110,000

+25.6% above equalized value

Chapter 123 Common Level Range (CLR) Analysis

Bergen County Equalization Ratio (2026)0.87
Equalized Market Value (Median MV × Ratio)$374,100
CLR Upper Bound (Equalized MV × 1.15)$430,215
Your AV vs. CLR Upper Bound$540,000 > $430,215 — OUTSIDE CLR ✗

N.J.S.A. 54:51A-6 (Chapter 123): When a property's AV exceeds the CLR upper bound and the comparable sales evidence is accepted by the board, the County Board of Taxation is required by statute to reduce the assessment to the Common Level. This data constitutes statutory evidence of a uniformity gap — outcome depends on the board's review of all evidence presented.

Subject Property (Assessor Record)

Bedrooms

4

Bathrooms

2.5

Sq Footage

2,400

Year Built

1982

Illustrative Annual Tax Savings If Successful

$2,310

Gap × NJ 2.1% effective rate. Actual result varies. ±15% band.

County Board of Taxation

Form A-1 · No attorney required

SAMPLE

PropGap — Assessment Audit Report

123 Main Street, Anytown, NJ 07000Bergen County

March 18, 2026

Page 2 of 4  ·  SAMPLE

Comparable Properties Report

Same municipality · Sold within 24 months · Within 15% sq footage · 3σ outliers removed

Exhibit A — Comparable Sales (Attach to Form A-1)

#AddressBed/BathSq FtSale Price$/SqftDate
145 Oak Ave, Anytown NJ4bd/2ba2,200$408,000$185Nov 2024
278 Maple Rd, Anytown NJ3bd/2ba2,350$425,000$181Sep 2024
312 Elm St, Anytown NJ4bd/2.5ba2,480$441,000$178Aug 2024
431 Birch Ln, Anytown NJ4bd/2ba2,390$432,000$181Jun 2024
519 Cedar Blvd, Anytown NJ3bd/2ba2,300$418,000$182Apr 2024
655 Walnut Dr, Anytown NJ4bd/2.5ba2,460$448,000$182Mar 2024
77 Pine Ct, Anytown NJ4bd/2ba2,310$421,000$182Feb 2024
866 Willow Way, Anytown NJ3bd/2ba2,280$415,000$182Jan 2024
MEDIAN (Equalized Market Value)2,370$430,000$179
YOUR ASSESSED VALUE2,400$540,000$225

Comparables

8

same municipality

Price/Sqft Gap

+$46/sqft

vs. equalized median

Sale Date Range

24 mo

Jan 2024 – Nov 2024

Data Methodology

Equalized Market Value = Median comparable sale price × Bergen County equalization ratio (0.87). This is the number NJ Chapter 123 uses to determine your fair assessed value — not raw sale prices.

Filters: Same municipality · Residential · Sold within 24 months · ±15% sq footage · 3σ outlier removal on price/sqft. Source: RentCast MLS records.

SAMPLE

PropGap — Assessment Audit Report

123 Main Street, Anytown, NJ 07000Bergen County

March 18, 2026

Page 3 of 4  ·  SAMPLE

Filing Action Plan

Step-by-step checklist — County Board of Taxation appeal, NJ

Deadline: May 1, 2026

Revaluation municipalities. Petitions received after May 1 are dismissed without review. Use certified mail — postmark date counts.

Step 1 — Verify Your Assessor's Record (Blue Card)

1

Find your property record at your county tax board website or municipal assessor's office.

2

Compare the square footage, bedrooms, and bathrooms listed against your actual home.

3

Factual errors in the assessor's record (wrong sq footage, extra bedroom, finished basement miscategorized) are independent appeal grounds.

4

Document all discrepancies. These become Exhibit B in your petition.

Step 2 — Prepare Your Evidence Packet

1

Print this report. Pages 1–2 are your evidence. Page 2 (Exhibit A) is the comparable sales grid.

2

Circle or highlight the Equalized Market Value and your Assessed Value on page 1.

3

Attach any factual error documentation (photos, floor plans, prior tax bills) as Exhibit B.

Step 3 — Complete Form A-1 and File

1

Download NJ County Tax Board Petition (Form A-1) from njcourts.gov.

2

Enter your Block/Lot (from your tax bill). Under Grounds for Appeal: (1) Market value — comparable sales attached; (2) Chapter 123 CLR — AV exceeds CLR upper bound (page 1).

3

Mail to your County Tax Board by certified mail with return receipt. Keep a copy. Postmark by May 1, 2026.

Step 4 — After Filing

1

The Board schedules an informal hearing (typically 4–8 weeks). Bring this printed packet.

2

Present your comparable sales data. Many cases settle at the informal hearing — the Board may reduce on the spot.

3

If dissatisfied, you may request a formal hearing before the County Board.

Legal basis: N.J.S.A. 54:51A-6 (Chapter 123). PropGap is a data tool — not a law firm. This is not legal advice.

SAMPLE

PropGap — Assessment Audit Report

123 Main Street, Anytown, NJ 07000Bergen County

March 18, 2026

Page 4 of 4  ·  SAMPLE

Risk Analysis & Priority Summary

Appeal strength based on gap size, equalized comp quality, and CLR position

81

/ 100

HIGH Appeal Strength

Your assessment is 25.6% above the Equalized Market Value and outside the Chapter 123 CLR. Bergen County has a 56% appeal success rate. Comparable evidence is strong.

Risk Factor Analysis

Gap magnitude

25.6% over-assessment — well above the 10% typical threshold for filing

STRONG

CLR position

AV ($540,000) exceeds CLR upper bound ($430,215) — automatic Chapter 123 grounds

STRONG

Comp quality

8 same-municipality sales, 24-month window, 3σ outliers removed

STRONG

Comp recency

Median sale age ~8 months — acceptable; fresher comps always preferred

VERIFY

Property condition

Confirm interior condition on Blue Card matches actual home before filing

VERIFY

Factual errors

Verify sq footage and bed/bath count against assessor record

CHECK

County Appeal Intelligence — Bergen County

Success Rate

56%

of appeals get a reduction

Annual Appeals

100K+

statewide — NJ Judiciary

Deadline Type

Reval

May 1, 2026

Not an appraisal: PropGap is a data tool. Only the County Board of Taxation can set the final assessed value.

Savings estimate: Illustrative only. Gap × NJ effective rate. Actual result depends on board decision and other factors. ±15% band.

No attorney-client relationship: This is not legal advice. For appeals >$1M (N.J.S.A. 54:3-21, NJ Tax Court), consult a licensed NJ tax attorney.

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