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John R. Lloyd
Practice Group Leader, Property Taxation & Valuation Group
OUR ADVANTAGE
Delivering insight on matters beyond simply the prosecution of a tax appeal, CSG’s Property Taxation & Valuation
Group brings a deep, technical understanding of real
estate valuation principles needed to aid property owners, municipal leaders and real estate developers in gaining
a clear view of the “bigger picture.” Our fully integrated practice — with core capabilities in property taxation projections, abatements, exemptions and appeals — is steeped in all aspects of property valuation and is, therefore, essential in any context presenting the question of how much a parcel of real estate should be taxed.
In the realm of value-added services and resources, clients appreciate our extensive experience, stellar reputation and referral network within the legal and appraisal communities. Further, in the event that a business challenge arises outside of the areas of real estate and property taxation, clients
find great value in tapping the full-service capabilities, powerhouse talent and seamless service brought to bear by CSG as a collective.
ON THE HORIZON
Redevelopment projects seeking to include PILOT agreements will continue to be a significant growth area for our group. We currently are involved in approximately 25 deals that involve PILOT negotiations and we see no approaching trend that will curtail that activity in the coming year.
Further, as the real estate economy in general continues to
One Boland Drive
West Orange, NJ 07052
AT A GLANCE
YEAR FOUNDED: 1972
NUMBER OF ATTORNEYS INVOLVED IN PROPERTY TAX APPEALS IN NEW JERSEY: 5
OTHER AREAS OF EXPERTISE IN COMMERCIAL REAL ESTATE: Acquisitions, sales and leasing; development and land use; condominium and planned real estate development; real estate financing and loan workouts; private equity and joint ventures; hospitality and liquor licensing; construction agreements; and dispute resolution.
“reset” in the post-COVID era and winners and losers remain among property owners, we also expect heavy activity in our property taxation projection work for the winners as well
as the prosecution of conventional tax appeals for those properties that have not fared so well.
TRANSACTION SPOTLIGHT
Over the past year, CSG’s Property Taxation & Valuation Group has been involved in numerous projects calling for innovative, forward-looking solutions — but one in particular demonstrates the complexity we’re equipped to handle, as well as the meaningful results that a fully integrated business advisor like CSG can help bring to fruition.
As redevelopment and land use counsel to the developer of the former Military Ocean Terminal at Bayonne, a 152.9-acre site slated for port-related development and other mixed-use properties, CSG has been intimately involved in facilitating the numerous mechanisms that go into revitalizing a property of this scale — from coordinating land swap agreements, obtaining land use approvals and securing environmental permits. All the while, our team was immersed in negotiations which ultimately led to the successful award of a 30-year tax abatement for the development — helping to make the project more economically feasible for the client and its end users and, ultimately, rendering the site a productive parcel of land contributing towards the State’s financial well-being and overall economy. We are immensely proud to have played a role in bringing such a transformative development to reality.
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