Outrageous Property Tax (Assessment) Hike (real estate market, condo, assessor)

[billyvegas]

Essentially, my property tax bill went up approx. 24%.

My tax assessor tells me "Actually, you're tax rate went down". Sure, it did, technically.

My assessed value of my condo went up approx. 52%.

Impressive moves, town, technically dropping the property tax rate but increasing most peoples property values. Well played, pols.

Anyone else experience something like this?
I just find this to be outrageous and feel like a rube.

[tahiti]

please search the forum for this. it's been discussed ad nauseum.

[tahiti]

in fact, i'll help you - read this thread. it applies to you.

http://www.city-data.com/forum/new-j...ght=assessment

[Retriever]

While it is not unusual to wind up with a higher assessment, and thus, higher property taxes, I would have to question how the assessed valuation of a house or condo could possibly rise 52% in a depressed real estate market!

I would suggest two things for you to do:

• Schedule an appointment with the local Tax Assessor, in order to get answers regarding how/why your assessment rose to such an incredible extent.
• Consider filing an appeal at the county level.

[tahiti]

Originally Posted by Retriever

While it is not unusual to wind up with a higher assessment, and thus, higher property taxes, I would have to question how the assessed valuation of a house or condo could possibly rise 52% in a depressed real estate market!

I would suggest two things for you to do:

• Schedule an appointment with the local Tax Assessor, in order to get answers regarding how/why your assessment rose to such an incredible extent.
• Consider filing an appeal at the county level.

i love ya retriever, but higher assessment does NOT necessarily equal higher taxes! this is probably the #1 misconception about this whole process. i have friends whose "values" rose 100+% yet their taxes went down. Read the thread I posted.

bayonne hasn't been assessed in forever and if they were to do one now, some of the older houses would increase by 300%! even in this depressed market.

[billyvegas]

Originally Posted by tahiti

in fact, i'll help you - read this thread. it applies to you.

http://www.city-data.com/forum/new-j...ght=assessment

I hate being the guy who posts the rambling thread and gets owned by a "Do a Search" thread.

My bad. Been lurking here for a while - I just needed to vent and this seemed like an appropriate place.

#schooled.

[billyvegas]

Originally Posted by tahiti

i love ya retriever, but higher assessment does NOT necessarily equal higher taxes! this is probably the #1 misconception about this whole process. i have friends whose "values" rose 100+% yet their taxes went down. Read the thread I posted.

bayonne hasn't been assessed in forever and if they were to do one now, some of the older houses would increase by 300%! even in this depressed market.

My assessed value rose about 53%...
My property tax rate apparently dropped .5% or so...
My actual tax bill rose 22%.

Forgive me if my numbers are off by a hair... I went to the tax assessor, got the talking on, got my information, and just couldn't look at it anymore due to my general disgust.

I pay approx. $6+/sq.ft. in property tax on my 1 bedroom condo. How is this possible, .gov?

Time to move.

[Retriever]

Originally Posted by tahiti

i love ya retriever, but higher assessment does NOT necessarily equal higher taxes! this is probably the #1 misconception about this whole process. i have friends whose "values" rose 100+% yet their taxes went down. Read the thread I posted.

bayonne hasn't been assessed in forever and if they were to do one now, some of the older houses would increase by 300%! even in this depressed market.

I luv ya too, tahiti, but you have misquoted me!

I did not say that a higher assessment always means higher taxes, but it is true that an increase in one's assessment can lead to higher taxes, despite the rate per $1,000 of assessed value being reduced. It all depends on the amount of increase in assessed value vs the decrease in the tax rate.

With property taxes, it's all a numbers game, and sometimes you win, but sometimes you lose.

[billyvegas]

Originally Posted by Retriever

With property taxes, it's all a numbers game, and sometimes you win, but sometimes you lose.

Where is the "winners" section in NJ?

[camaro69]

Originally Posted by billyvegas

Where is the "winners" section in NJ?

They all moved out of state.