Are new Jersey property taxes High all around, do the wealthy pay the same rate as most jerseyans

[KathyA11]

Originally Posted by FBone

Quote:

In Monmouth County the revaluations are done every 8-10 years unless the county feels assessments are still accurate.

Monmouth County isn't Hudson County.

Its mandated and towns cannot refuse.

They can't refuse, but they can do their best (with a cooperative County Board of Taxation) to put it off as long as possible.

Towns know ahead of time and budget accordingly.

Yes, they know ahead of time -- but it's still a big line item, and when there's a budget crunch, it's something else for the taxpayer to complain about.

I've lived through one of these (peripherally -- I was in the Water Department at the time). It was a hassle for us, and for the people in the Assessor's Office, it was a nightmare (a taxpayer dropped dead from a heart attack in the Assessor's Office when he came in for an explanation of his new assessment). I'm glad I retired before I had to go through one again.

[KathyA11]

Originally Posted by elflord1973

Thank you for adding plenty of great info to this discussion.

You're welcome.

I have some further questions:

Approximately what portion goes to (Hudson) county ?

From our 3rd/4th quarter tax bill:
Tax rate: Municipal tax rate 24.10
County tax rate 10.64
School tax rate 27.86
Open space tax: .28
Total municipal: 24.10
Total non-municipal: 38.78


And what are those funds used for (the county portion) ?

I worked for Bayonne, not Hudson County, but I imagine it went for the county courts system, board of elections, etc.

Is it much the same for other counties in NJ ?

I would think so, since they all operate under the same state constitution.

[luckyshoes]

Originally Posted by KathyA11

I would think so, since they all operate under the same state constitution.

Yes, but different counties have different county tax rates depending on how much they have to spend on courts, jails, etc.

[KathyA11]

Originally Posted by luckyshoes

Yes, but different counties have different county tax rates depending on how much they have to spend on courts, jails, etc.

That goes without saying.

I gave the Hudson County tax rate because I took it off my tax bill. I don't own property in another county, so maybe someone who does can chime in.

[tahiti]

Originally Posted by KathyA11

That goes without saying.

I gave the Hudson County tax rate because I took it off my tax bill. I don't own property in another county, so maybe someone who does can chime in.

my county tax (morris) is 10% of my total tax bill.

[chap2]

All I know is average taxes on an average house in Millburn are over $18,000. Who cares what the house is worth? A million dollar home in Millburn costs $650,000 in neighboring Livingston and even less in South Orange. The family in either of those three houses might have the exact same income, but the $650,000 house in Livingston has taxes of about $13,000 and the $500,000 house in SO has taxes of about $15,000. Why? Because it all comes down to how many kids are in the schools - or I should say teachers and administrators. 2/3 of the prop tax is for local schools. take teh school budget and divide it by the number of houses - assuming as in these three areas there's not a lot of commercial property - and there's your answer. The spending per pupil in each district is about the same, despite Millburn having the best reputation, Livingston next, and SO after that.