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Old 02-12-2020, 10:54 AM
 
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I posted last month about the possibility of moving from Lower Merion to Haddonfield. We already know the taxes will be about double what we pay here, but we are moving to be much closer to family, in a walkable downtown, and to stay in the same caliber school district. I have read that Haddonfield barely gets any state funding, which is why the taxes are so high since they need to basically pay for all of the school funding themselves. Apparently they are behind on technology and building upgrades for this reason, and whenever major upgrades are needed, the taxes increase by 3-4%. Will there ever be a cap on how high these taxes can go? My realtor says the town has enough wealth and is so sought after that property values will never go down, which I kind of find hard to believe. If at some point the taxes are 25-30k on my 700k , 2700 sq ft home with a small lot, I think it would be harder to sell it. I've also read they still do not have school safety officers in all of the schools, and that they have bullying and harassment problems (which I am sure exist in many school districts). We were set to sign contracts on a home this week and I am starting to wonder if moving there may not be a great idea? I hear people rave about the school district, but it sounds like there are issues with funding/safety/maintenance/technology. Currently in LMSD, we do not have any of these issues (as far as I know of.)
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Old 02-13-2020, 03:46 PM
 
Location: Mount Laurel
4,179 posts, read 10,009,466 times
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Quote:
Originally Posted by Jmae84 View Post
I posted last month about the possibility of moving from Lower Merion to Haddonfield. We already know the taxes will be about double what we pay here, but we are moving to be much closer to family, in a walkable downtown, and to stay in the same caliber school district. I have read that Haddonfield barely gets any state funding, which is why the taxes are so high since they need to basically pay for all of the school funding themselves. Apparently they are behind on technology and building upgrades for this reason, and whenever major upgrades are needed, the taxes increase by 3-4%. Will there ever be a cap on how high these taxes can go? My realtor says the town has enough wealth and is so sought after that property values will never go down, which I kind of find hard to believe. If at some point the taxes are 25-30k on my 700k , 2700 sq ft home with a small lot, I think it would be harder to sell it. I've also read they still do not have school safety officers in all of the schools, and that they have bullying and harassment problems (which I am sure exist in many school districts). We were set to sign contracts on a home this week and I am starting to wonder if moving there may not be a great idea? I hear people rave about the school district, but it sounds like there are issues with funding/safety/maintenance/technology. Currently in LMSD, we do not have any of these issues (as far as I know of.)
Let's not based things on what you hear but rather real data on Taxes and Cost of Education.

You neglect to mentioned that property value differ between the two town (Meaning you are comparing apples and oranges. You may get more RE in LM then Haddonfield for the same dollar amount).

With that in mind. Take your $700K value home and look at the taxes.

In Haddonfield: Your tax rate is 3.1 for every $100 assessed value. That brings the property tax to about $21,700 (for 2019 rate). https://www.state.nj.us/treasury/tax...r/Camden19.pdf

In LM: Your millage is 37.4478 for every $1000 assessed value. That brings the property tax to about $26,213. https://www.montcopa.org/622/County-...-Millage-Rates


Now onto the school.

Haddonfield: https://www.nj.gov/cgi-bin/education...10&maxhits=650
Almost 70% of funding are from local. Costing $25K per student. Is LM any different?

LM: https://futurereadypa.org/district/f...29174144101042
How about 85% are from local and costing about $30K per student.

Bottom line.
Your property tax is basically for paying for your kids to attend a good school for both districts. Neither area is good if you have no kids to send to school.

Last edited by sj08054; 02-13-2020 at 04:11 PM..
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Old 02-13-2020, 07:43 PM
 
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The data you provided for LM is not how it actually works here though. The assessed value for a 700k home is usually half, around 350k. We pay 9800 in taxes per year and they go up about 300 per year. Same for all of our neighbors. Two friends have homes that are almost 4000 sq ft and 5 bedrooms, their taxes are around 15k per year. In Haddonfield the assessed values are always much closer to the actual value of the home.
I have found data stating that Haddonfield only receives about 1 million per year from the state for school funding, whereas LM receives about 50 million. My concern is that since Haddonfield relies more on property taxes to fund the schools, the taxes will continue to have large increases for the previous stated reasons, along with the normal yearly increases. My kids are little so we would want to stay there for 15 years.
And I am not partial to either area, I love both and I actually want to move to Haddonfield to be closer to family. I am just concerned about the taxes.
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Old 02-13-2020, 07:44 PM
 
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And thank you for the links btw!
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Old 02-13-2020, 09:04 PM
 
Location: The place where the road & the sky collide
23,516 posts, read 29,369,205 times
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Quote:
Originally Posted by Jmae84 View Post
The data you provided for LM is not how it actually works here though. The assessed value for a 700k home is usually half, around 350k. We pay 9800 in taxes per year and they go up about 300 per year. Same for all of our neighbors. Two friends have homes that are almost 4000 sq ft and 5 bedrooms, their taxes are around 15k per year. In Haddonfield the assessed values are always much closer to the actual value of the home.
I have found data stating that Haddonfield only receives about 1 million per year from the state for school funding, whereas LM receives about 50 million. My concern is that since Haddonfield relies more on property taxes to fund the schools, the taxes will continue to have large increases for the previous stated reasons, along with the normal yearly increases. My kids are little so we would want to stay there for 15 years.
And I am not partial to either area, I love both and I actually want to move to Haddonfield to be closer to family. I am just concerned about the taxes.
Don't forget that when you work the numbers you deduct city wage tax from your NJ state taxes. When I lived in Cherry Hill I worked the numbers many times. It always came out better for Pennsylvania until I got to that point. Some years I owed zero to the state of NJ because of the city wage tax. Your mileage may vary.
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Old 02-14-2020, 06:32 AM
 
Location: Mount Laurel
4,179 posts, read 10,009,466 times
Reputation: 3487
Quote:
Originally Posted by Jmae84 View Post
The data you provided for LM is not how it actually works here though. The assessed value for a 700k home is usually half, around 350k. We pay 9800 in taxes per year and they go up about 300 per year. Same for all of our neighbors. Two friends have homes that are almost 4000 sq ft and 5 bedrooms, their taxes are around 15k per year. In Haddonfield the assessed values are always much closer to the actual value of the home.
I have found data stating that Haddonfield only receives about 1 million per year from the state for school funding, whereas LM receives about 50 million. My concern is that since Haddonfield relies more on property taxes to fund the schools, the taxes will continue to have large increases for the previous stated reasons, along with the normal yearly increases. My kids are little so we would want to stay there for 15 years.
And I am not partial to either area, I love both and I actually want to move to Haddonfield to be closer to family. I am just concerned about the taxes.
LM does not receive 50 Million from the state. The school district operate on about $266 million with about $37 million from the state and about $225 millions from local taxes. It is getting 14% from the state. This is a much bigger district than Haddonfield (8600 ADM vs 2700).

The link I put earlier for Haddonfield was actually for my school district. Similar to size to LM. Haddonfield operates on about $45 million budget with 17% of the money coming from the state. The cost per pupil for this district is amazingly low. This is typical of small school districts.


There is no question that property tax in NJ is higher because of school but if you have concerns about how tax could look 5-10 or 15 years from now you need to look at previous financial school data. Separate out the instructional cost person student. I would be a bit concern that it is costing $30K a student in LM school district.

With that said, I had thought about moving to Haddonfield about 10 years ago and the tax was a deal breaker for me. I though about the alternative of maybe sending my kids their and pay the tuition but there are other options depending on each individual situation. Bottom line, don't choose Haddonfiled because of the school but rather the type of community that fit what you are looking for and that you are willing to pay a higher tax because of that.
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Old 02-14-2020, 10:21 AM
 
14 posts, read 3,348 times
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Thank you both for the good points and info. We would enjoy the walkable lifestyle that Haddonfield provides, and being closer to family. That makes the tax burden a little easier to stomach, but I think I am stuck on the school issues because I don’t want to leave a district that seems to be ahead in regards to many aspects, to go to a smaller district that seems to be lacking due to funding issues. I would prefer to live in Haddonfield, but I am just nervous by what I read about their schools still needing extensive work even after a $36 million district wide project that was completed last year. I appreciate all of your input and advice.
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