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AT A GLANCE
293 Eisenhower Pkwy.
Livingston, NJ 07039
Year founded: 1961
Number of attorneys involved in property tax appeals in New Jersey: 7
Other areas of expertise in real estate: We counsel clients on property tax exemption matters, long-term abatements and PILOTs. We also have an extensive capital markets practice and routinely perform property tax projections and property tax due diligence on many of the major transactions in New Jersey.
OUR CLIENTS
Skoloff & Wolfe P.C.’s clients include commercial real estate property owners, developers, management companies, financial institutions, REITs, hospitals, universities, religious institutions, private equity firms and insurance companies.
OUR ADVANTAGE
The Skoloff & Wolfe P.C. property tax department is steeped in decades of experience in property tax law. We are regularly sought after for the success that we have achieved reducing the property tax liability, and increasing the value of the real estate, for corporations, large property owners, institutions and developers.
ON THE HORIZON
There is the potential for increased property tax relief for taxpayers in 2024 given the historic increase in interest rates in 2023. In addition to the office sector, there may be opportunities to reset assessments in multifamily, retail, hotel and even industrial properties. The Skoloff & Wolfe Tax Department is actively working with clients to prepare their challenges for tax year 2024, both prospectively and through the formal appeal process.
TRANSACTION SPOTLIGHT
Recently, the property tax department of Skoloff & Wolfe P.C. reduced the assessment of a large office property. The multiyear settlement resulted in a total combined assessment reduction of $255 million and a corresponding tax saving of $5 million.
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