I have a question - did you question your new assessment when the Appraisal company first sent it out?
At that time, they offered an informal meeting where you could express your thoughts that the appraisal was too high. They were receptive, at that time, to making adjustments (I live in a nearby town, and had my assessment reduced after sitting with one of their employees and showing comps - other homes that were similar to mine that they assessed lower.
I did get a reduction, and they lowered my assessment.
If you didn't make use of that informal meeting, then you must now go through a more formal tax appeal.
This involves a lot more.
Simply stating that you can't sell the house at that price won't work.
You will need concrete proof that you are overvalued - it used to be that the overvaluation had to be off by 15% (15% higher than assessments of other homes similar to yours). Not sure ifhtat percentage is still being used.
You can always call an appraiser who may work on a contingency basis to handle your appeal.
If you want, please email me, and I can give you the name of a local appraiser who handles appeals for owners. At the very least, a conversation with him may help you understand the process and determine if it is worthwhile to attempt an appeal.
Best wishes..........and good luck!!
Prudential NJ Properties