Forks Township Property Tax Confusion. Mils?? (Easton, Northampton: homes, buyer, construction)

[PotentialBuyer]

Could anyone tell me the total property tax rate in Forks Township? I found the Forks Township site: [url=http://www.forkstownship.org/taxes.html]Tax Information[/url].

It lists the following items as what you have to pay for property taxes in Forks:
Forks Township 5.1 mils
Northampton County 10.8 mils
Easton Area Schools 45.105 mils

I googled mils and I think they equate to 1/1000th of a dollar. At that rate, the total property tax (61.005 mils) is around 6.1%. Is this actually the property tax rate in Forks? It doesn't seem logical to me since that would put the taxes of a $200,000 home at $12,200...

[karen_s]

If the total value of the home is $200,000, then the assessed value is half of that, or $100,000. Use the $100,000 figure and multiply by the millage and you will find your taxes to be half of what you originally calculated. Much better!
(I had no idea the Easton Area School District millage was that high)

Hope that helps!

[PotentialBuyer]

Sorry for the questions, but I'm researching locations in preparation to be a first-time home buyer so this is all new to me.

Why would the assessed value be half of the purchase price? Does that mean I am correct with the 6.1% property tax (at half the purchase price)? Seems incredibly high to me, but, again, I know nothing about this.

If the NJ "General Tax Rate" is all inclusive (meaning there are not three separate taxes as apparently there is in Forks), nowhere in the surrounding NJ area has taxes that high. Of course I could be reading those entirely wrong as well...

[karen_s]

Originally Posted by PotentialBuyer

Sorry for the questions, but I'm researching locations in preparation to be a first-time home buyer so this is all new to me.

Why would the assessed value be half of the purchase price? Does that mean I am correct with the 6.1% property tax (at half the purchase price)? Seems incredibly high to me, but, again, I know nothing about this.

If the NJ "General Tax Rate" is all inclusive (meaning there are not three separate taxes as apparently there is in Forks), nowhere in the surrounding NJ area has taxes that high. Of course I could be reading those entirely wrong as well...

No, the assessed value is already established through the county. If this is an existing home, we have not been assessed in Northampton County since the early 90s.

Here is the website where you can look up your assessed value: Northampton County
Click on Search for Tax Records, Agree
Search by Property Address
Select the correct property and click on it.
On the left menu, click on the "Values" tab. When it opens, at the bottom of this tab will be the assessed value of your property. Take that figure and multiply by the millage to find your actual tax values.

[jjj]

Originally Posted by PotentialBuyer

Could anyone tell me the total property tax rate in Forks Township? I found the Forks Township site: Tax Information.

It lists the following items as what you have to pay for property taxes in Forks:
Forks Township 5.1 mils
Northampton County 10.8 mils
Easton Area Schools 45.105 mils

I googled mils and I think they equate to 1/1000th of a dollar. At that rate, the total property tax (61.005 mils) is around 6.1%. Is this actually the property tax rate in Forks? It doesn't seem logical to me since that would put the taxes of a $200,000 home at $12,200...

A great web site to figure out taxes is zillow.com. Just type in any address in the area you are looking in and it will give you all the info on the property and the taxes paid in the last year. You can also just type in a zip code and a map with homes and street addresses will come up. Open which ever one and see what the taxes are. With all the confusing methods of assesments and millage rates this is an easy way to get property tax rates. Also you will see most older homes are taxed lower then newer construction.