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08-02-2009, 08:38 AM
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Taxes in Pompton Lakes NJ
Can anyone tell me what the taxes are like in Pompton Lakes??? School District information would be appreciated as well.  |
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08-02-2009, 07:36 PM
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Doesn't anyone have informaton about Pompton Lakes?
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08-04-2009, 02:07 PM
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Having grown up in Pompton Lakes it is a very nice town to live. Schools are good I've never had a problem and high school admin is good but a few teachers may lack.. Most Ive had are great though.. taxes are a little high 300,000 house 6500/tax yr overall happy with where I grew up
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08-04-2009, 09:49 PM
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I looked at a house in Pompton Lakes which they were asking $249,000 for. House needed some updating/work without question, but it was livable. Nice backyard that was about 1/3 of an acre, including a pool. Taxes are over $12,000 though. Way out of my league. The house is practically unsellable with taxes that high.
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08-05-2009, 07:41 AM
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Quote:
Originally Posted by BLUEDIAMOND64
Can anyone tell me what the taxes are like in Pompton Lakes??? School District information would be appreciated as well. |
Best websites to research before buying a home |
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08-05-2009, 08:03 AM
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Quote:
Originally Posted by Dingo99
I looked at a house in Pompton Lakes which they were asking $249,000 for. House needed some updating/work without question, but it was livable. Nice backyard that was about 1/3 of an acre, including a pool. Taxes are over $12,000 though. Way out of my league. The house is practically unsellable with taxes that high.
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Property taxes are really high all over NJ. I know people paying 14,000 for .07 of an acre for a tiny 3 br house in what I would consider a lower to medium-tier town.
The taxes are really just divided up between the houses (and hopefully the businesses in town). So if all the houses in a town go for 600K, they might all pay 12 K. But even if all the houses in town are worth less, let's say 300K, the taxes might still be 12 K per house, because the cost to run the town and the schools etc. isn't any lower just because the houses are smaller. Of course, there are differences between towns, based on how much commercial property is in town, and that really helps with the tax burden.
So to say that the house is practically unsellable with taxes that high? I'm not sure about that statement. If you really like the house, try to get the purchase price down a bit. Or maybe that purchase price already reflects the fact that the taxes are what they are.
For example, in Mahwah, they generally have lower taxes than a lot of the surrounding towns because they have a healthy commercial base. BUT, it just means that the house prices are a bit higher because of it, because at the end of the day the supply and demand of the market is determined by the final payment.
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08-05-2009, 12:55 PM
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pollution, flooding and quarry rock dust.
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08-05-2009, 01:20 PM
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Quote:
Originally Posted by luckyshoes
Property taxes are really high all over NJ. I know people paying 14,000 for .07 of an acre for a tiny 3 br house in what I would consider a lower to medium-tier town.
So to say that the house is practically unsellable with taxes that high? I'm not sure about that statement. If you really like the house, try to get the purchase price down a bit. Or maybe that purchase price already reflects the fact that the taxes are what they are.
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$12,000 a year is a real lot when you are talking about a $250,000 house. You would pay just as much in taxes as you do on your mortgage! |
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08-05-2009, 04:56 PM
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Quote:
Originally Posted by Dingo99
$12,000 a year is a real lot when you are talking about a $250,000 house. You would pay just as much in taxes as you do on your mortgage!
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I agree and the taxes never go down even after you get the mortgage. |
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08-05-2009, 06:17 PM
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Property taxes are very high for what you get.
Quote:
Originally Posted by Dingo99
$12,000 a year is a real lot when you are talking about a $250,000 house. You would pay just as much in taxes as you do on your mortgage!
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Yes, and welcome to New Jersey in the 21st Century. Recently, I've looked at some properties where the annual taxes would exceed the mortgage interest if I bought the property with an 80% loan at prevailing rates. That's outrageous!
Pompton Lakes, as part of Passaic County, has particularly high real estate taxes. Recall that countywide, http://www.city-data.com/forum/new-j...rty-taxes.html in the nation.
Original article link: America's-Highest-Property-Taxes: Personal Finance News from Yahoo! Finance |
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