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Old 04-04-2016, 10:39 AM
 
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Im guessing this will hurt more people than help-

N.J. to order property tax-changing revaluations in 3 municipalities | NJ.com
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Old 04-04-2016, 10:45 AM
 
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I don't see problem with this. Over 30 years and no reassessments? That's not fair for the vast majority of the state who have far more updated numbers. Some of these people could be vastly underpaying, especially in gentrified areas like in Jersey City. It may suck, I won't deny it, but it should be all or nothing. Everyone or no one. None of this "people in 32 municipalities are long overdue and these particular 3 VERY long overdue" nonsense.
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Old 04-04-2016, 10:48 AM
 
350 posts, read 342,595 times
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Quote:
Originally Posted by JerseyGirl415 View Post
I don't see problem with this. Over 30 years and no reassessments? That's not fair for the vast majority of the state who have far more updated numbers. Some of these people could be vastly underpaying, especially in gentrified areas like in Jersey City. It may suck, I won't deny it, but it should be all or nothing. Everyone or no one. None of this "people in 32 municipalities are long overdue and these particular 3 VERY long overdue" nonsense.
Oh I agree it's needed-decades without revaluing is just nuts. I foresee people living in gentrified Jersey City being the worst hit too, and I wonder what it will do as far as the attractiveness of JC properties vs other areas.
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Old 04-04-2016, 10:52 AM
 
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Originally Posted by Nmc400 View Post
Oh I agree it's needed-decades without revaluing is just nuts. I foresee people living in gentrified Jersey City being the worst hit too, and I wonder what it will do as far as the attractiveness of JC properties vs other areas.
That is a definite possible downside.
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Old 04-05-2016, 06:52 AM
 
Location: New Jersey/Florida
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The amount of overall property taxes collected by a town should remain the same after a complete revaluation of all properties in that town. The people that were/are overpaying will see a decrease. The people that are underpaying will see an increase.
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Old 04-05-2016, 08:31 AM
 
Location: NYC
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Rarely you'll see a decrease unless there is a mistake. The revalue was needed to bring more parity because of inconsistency with market value.

It will hurt people who has lived in the same location for 20+ years.
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Old 04-05-2016, 09:58 AM
 
Location: Midtown
1,311 posts, read 750,612 times
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Quote:
Originally Posted by Nmc400 View Post
Oh I agree it's needed-decades without revaluing is just nuts. I foresee people living in gentrified Jersey City being the worst hit too, and I wonder what it will do as far as the attractiveness of JC properties vs other areas.
I'm all for re-evaluating Jersey City so it makes my condo more attractive in a few years.

As mentioned above this will mostly hurt the long time homeowners clinging onto older buildings or homes. I wonder about that old Golden Cicada bar near Paulus Hook as it looks like an old survivor from a time before gentrification. I suspect a couple smaller business owners who own the property rather than rent will be forced to relocate or close. Fixed income retirees who own property will be in for the most pain.
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Old 04-05-2016, 11:01 AM
 
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Quote:
Originally Posted by JERSEY MAN View Post
The amount of overall property taxes collected by a town should remain the same after a complete revaluation of all properties in that town. The people that were/are overpaying will see a decrease. The people that are underpaying will see an increase.
That is true when the town does it on its own, but will it be true in this case? If houses are out of whack with other houses in town, wouldnt they also be out of whack with other towns?

If you look at the list of 30 towns (they just pick 3 to start with), there are 4 in Union County. Union county will do the reval, no?

The Union County towns on the list are:
Elizabeth, Roselle, Westfield and Winfield.

If the people in charge of Union County want more taxes, and they had to pick one of the towns above, where would it come from?
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Old 04-06-2016, 07:58 AM
 
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Westfield has some expensive homes. Those people are going to be very upset once the reevaluation comes. I can't believe towns haven't reassessed in so long. You would think they would have as a way to increase tax revenue for the town.
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Old 04-06-2016, 08:06 AM
 
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Two of the three are Abbott School districts. Maybe the locals will pay more for what they want and the non-Abbotts will get a small break.
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