Advice on Multi Family Home In Jersey CIty

[lammius]

Originally Posted by Wishfulsoul

Thx for the reply, so does that mean in the near future there's not going to be another reval and a possible chance of a increase in the property taxes, for how many years are these taxes going to remain the same. I don't see getting any multi family property for less than 600K, I am just thinking about the challenges that a landlord faces when renting out an apartment, all these days I was a tenant, so not much idea about what a landlord faces.

I don’t know when JC will do another reval. Prior to the most recent one, they hadn’t done one since 1988. I’m sure they won’t wait that long. I’m also sure they won’t do it again next year (though many people downtown want them to).

Regarding a “chance of an increase in the property taxes,” if the western slope appreciates at a faster rate than the rest of the city, the taxes would go up in the next reval, whenever that happens. If values in the western slope appreciate slower than the rest of the city, the tax burden would go down.

[Wishfulsoul]

Originally Posted by lammius

I don’t know when JC will do another reval. Prior to the most recent one, they hadn’t done one since 1988. I’m sure they won’t wait that long. I’m also sure they won’t do it again next year (though many people downtown want them to).

Regarding a “chance of an increase in the property taxes,” if the western slope appreciates at a faster rate than the rest of the city, the taxes would go up in the next reval, whenever that happens. If values in the western slope appreciate slower than the rest of the city, the tax burden would go down.

Thanks for the info.

[Wishfulsoul]

How about the area with zip code 07305, I heard some not so good things about the crime rate in Greenville, but these days some say its improving and has become better.