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Wow. Just wow. I'm not that familiar with Essex County tax rates, but this one has to take the cake. Paul Mulshine's column in today's Star-Ledger chronicles the dilemma of a West Orange resident whose taxes on his 4BR home on a quarter-acre lot have skyrocketed to $25,000 per year - and potentially $27,000 next year. The problem is that he can no longer afford his home, but now may have a problem selling it because nobody wants to move into a house where the tax bill is so high.
What's worse:
Quote:
West Orange residents pay more than $60 million a year in state income taxes. Under Corzine, the pittance they received in property tax relief was $9.5 million, about 15 cents on the dollar. Christie cut aid to $3.5 million, or a little over a nickel for every dollar the town sends to Trenton.
Obviously, some radical changes have to be undertaken to remedy this situation. Because absolutely nobody should be paying tax rates like that on what most would consider to be a pretty modest home. There common-sense solution is to somehow begin the process of equalizing state aid and send tax money back to the communities which pay the taxes like West Orange.
Personally, my taxes are actually still about a thousand dollars below the state average, but it's only a matter of time before we're right there with the folks in West Orange, wondering what to do with a home we can no longer afford, and can't sell.
Yeah, funny I saw some listings for new constuction home development in West Orange, Huge homes on large lots, and they are only asking in the 600's. I was thinking they would be closer to 800-900K +. Then I saw that projected property taxes are 35K......lol.....good luck selling those!!!!
All of Essex county has high taxes - that's what happens when you are asked (strike that) - told to support, Irvington, East Orange, Newark - am I forgetting any towns?
ok, i read this and searched on Kraemer's house - they bought in 2004 so the taxes were in the stratosphere then. and I personally wouldn't call it a "modest" house - thanks google maps. while $25K is outrageous, these people went into the purchase with their eyes wide open.
All of Essex county has high taxes - that's what happens when you are asked (strike that) - told to support, Irvington, East Orange, Newark - am I forgetting any towns?
cedar grove is reasonable, as is nutley, relatively speaking.
Sorry, but $9,500 for a small 3 bedroom/1 1/2 bath cape on a 50 x 100 lot and no garage priced at $450,000 is not reasonable. Expecially when said house is in need of $50 grand or more in repairs to make it livable.
Sorry, but $9,500 for a small 3 bedroom/1 1/2 bath cape on a 50 x 100 lot and no garage priced at $450,000 is not reasonable. Expecially when said house is in need of $50 grand or more in repairs to make it livable.
and i know someone who pays a little more than 1/2 that for a 4 bdrm house with a garage in nutley.
and i took an average street in cedar grove and the taxes hover around $6K.
ok, i read this and searched on Kraemer's house - they bought in 2004 so the taxes were in the stratosphere then. and I personally wouldn't call it a "modest" house - thanks google maps. while $25K is outrageous, these people went into the purchase with their eyes wide open.
I don't always agree with you, but in this case, you are spot-on. What about culpability with regard to the purchaser at the time of sale? With proper due diligence, these folks would have known what they were getting into. There's no way I personally would have made that purchase in 2004.
Eyes open or not $25K in property taxes for West Orange is obscene..I can't even wrap my mind around that
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