Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I received my tax bill today and my property taxes almost doubled. It's crazy to think how much I pay in property tax. How much does everyone pay here?
I received my tax bill today and my property taxes almost doubled. It's crazy to think how much I pay in property tax. How much does everyone pay here?
If you do a search, there was a thread a few months ago where many people revealed their property tax bill along with the dimensions of their homes and property.
Because it is a form of enforced savings for your future.
I bought my house in Bayonne for $55,000 in 1981. In 2005, I sold it for $400,000. That means that I got back just about everything that I paid out in Mortgage interest plus property taxes when I sold, even though I used my mortgage interest and property taxes as an income tax deduction each and every year.
Forget about what is happening in the real estate market right now - it is just a temporary problem. Probably starting next year, property values will continue their climb, and you will make a ton of money when you sell.
The property tax situation in NJ is really bad, but it has been that way since 1948 when the tax laws were re-written. It has gotten worse every year, no matter who was in office. It doesn't matter if you like the Democrats or the Republicans - neither party is going to change anything about the property tax system. Get used to it. I worked in the NJ property tax system for 30 years, and I heard a lot of promises, but I saw pretty much ........... nothing!
This is so true. I live on the beach in Long Island and pay $600/mo...and I own. If I were to rent, my rent would probably be more than double that. People don't realise that buying is the way to go if you want to spend less...NOT more on property. BTW, if you buy a co-op, you don't get a property tax bill b/c it is paid through your monthly maintenance.
(BTW, you think NJ is bad...property taxes in LI average well into the 9-thousands).
Because it is a form of enforced savings for your future.
I bought my house in Bayonne for $55,000 in 1981. In 2005, I sold it for $400,000. That means that I got back just about everything that I paid out in Mortgage interest plus property taxes when I sold, even though I used my mortgage interest and property taxes as an income tax deduction each and every year.
Forget about what is happening in the real estate market right now - it is just a temporary problem. Probably starting next year, property values will continue their climb, and you will make a ton of money when you sell.
The property tax situation in NJ is really bad, but it has been that way since 1948 when the tax laws were re-written. It has gotten worse every year, no matter who was in office. It doesn't matter if you like the Democrats or the Republicans - neither party is going to change anything about the property tax system. Get used to it. I worked in the NJ property tax system for 30 years, and I heard a lot of promises, but I saw pretty much ........... nothing!
I really do not think so. Who can afford these prices nowadays?
Average salary in NJ was $21,910 in 1981. $55,000 house made sense back then. The house prices are way too high compared to what people earn. doesnt make sense to buy in most of NJ
Forget about what is happening in the real estate market right now - it is just a temporary problem. Probably starting next year, property values will continue their climb, and you will make a ton of money when you sell.
And where are you going to live after you sell ?
The only way you can "make money" when you sell is by downgrading, reverse-mortgaging, or renting -- otherwise, you're putting the money you thought you "made" back into another house.
[quote=GiantRutgersfan;10583948]I really do not think so. Who can afford these prices nowadays?
Average salary in NJ was $21,910 in 1981. $55,000 house made sense back then. The house prices are way too high compared to what people earn. doesnt make sense to buy in most of NJ[/QUOTE]
one reason prices are going down and will continue until we're back to a normal income/price ratio. however, housing prices in much of NJ will exceed national averages, as it's always been.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
