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can someone DM this property's address? i'm having a real hard time believing this - since to my knowledge taxes in GR are not in the same sphere as Glen RIDGE, Maplewood, Montclair, etc.....
can someone DM this property's address? i'm having a real hard time believing this - since to my knowledge taxes in GR are not in the same sphere as Glen RIDGE, Maplewood, Montclair, etc.....
I am not familiar with Glen Rock but any town with a school system ranked in the top 50 in NJ or even top 100 in NJ is going to have very high property taxes.
I am not familiar with Glen Rock but any town with a school system ranked in the top 50 in NJ or even top 100 in NJ is going to have very high property taxes.
2.5% is very common in many of these towns. 2.5% on a 750K house comes out to about almost 19k a year so 18k for a 720K house is actually common. The sad thing is, a 720K house in some of these neighborhoods is not that impressive and you are also looking at huge utility bills in the winter. Really is tough to have a good standard of living in the Tri State area.
2.5% is very common in many of these towns. 2.5% on a 750K house comes out to about almost 19k a year so 18k for a 720K house is actually common. The sad thing is, a 720K house in some of these neighborhoods is not that impressive and you are also looking at huge utility bills in the winter. Really is tough to have a good standard of living in the Tri State area.
ok, so I'm in an area in the top "50", and our taxes aren't anywhere near that high. where are we getting that this house is worth $720K, we only know it was purchased 10 years ago for $275K. In my town, a house purchased at that price (then) would have taxes (today) ~$9K.
ok, so I'm in an area in the top "50", and our taxes aren't anywhere near that high. where are we getting that this house is worth $720K, we only know it was purchased 10 years ago for $275K. In my town, a house purchased at that price (then) would have taxes (today) ~$9K.
He had it listed at $775,000 and had little activity. Recently pulled off the market and gonna re-list.
I am not going to be posting the address of his house on here. I assure you that I am not making up stories here
2.5% is very common in many of these towns. 2.5% on a 750K house comes out to about almost 19k a year so 18k for a 720K house is actually common. The sad thing is, a 720K house in some of these neighborhoods is not that impressive and you are also looking at huge utility bills in the winter. Really is tough to have a good standard of living in the Tri State area.
Off the top of my head, Millburn and Summit are both around 1 and 2/3 %. But I agree with your other point (also, houses are likely to be more expen$ive in places with lower property tax rates)
Every town is different but 18K on a house that might be assessed at 700k is very common. Your town may just happen to have lower tax rates but every house is different as well. New construction will usually get taxed at the full rate. Older homes that have not been remodeled often get a lower tax rate. I know in my neighborhood if you do a tear down but use the old foundation you also get a more favorable tax rate. If you never did anything to your house and have not been reassessed in some time you may enjoy a lower rate. Any time a homeowner gets a permit to have work done on their house you can be assured that the town will reassess and tax you more if you made any improvements. So when you go to town hall to get permits they are gonna get you twice. Once for the fees for the permit and also again when they charge you more tax because you increased the value of your property.
He had it listed at $775,000 and had little activity. Recently pulled off the market and gonna re-list.
I am not going to be posting the address of his house on here. I assure you that I am not making up stories here
I didn't ask you to post it, I asked for DM. I can only assume that GR's property taxes all over are about the same, and this house is not an anomaly. Did he get a great deal for $275k?
I found an anecdotal property on the mkt in GR. Purchased almost 14 yrs ago for $290K. Property taxes now are $15.2K.
Another property is on the market for $735K with taxes at $12.5K.
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