U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New Jersey
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-20-2007, 11:18 AM
 
2 posts, read 12,656 times
Reputation: 10

Advertisements

Just joined today so hello everyone and glad to be here. Seems like this board is full of interesting people, questions and information so my first question is this: My parents pay 6k for their property taxes, the land was just re assessed for 221k and it was about 70k before (Bergen County). How much will their property taxes increase? Thanks in advance for your help!!
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-20-2007, 11:26 AM
 
3,219 posts, read 6,238,074 times
Reputation: 1850
Quote:
Originally Posted by B.Gates View Post
Just joined today so hello everyone and glad to be here. Seems like this board is full of interesting people, questions and information so my first question is this: My parents pay 6k for their property taxes, the land was just re assessed for 221k and it was about 70k before (Bergen County). How much will their property taxes increase? Thanks in advance for your help!!
Depends on the tax rate the town has multiplied by the difference which in your case is $151K.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2007, 11:37 AM
 
2 posts, read 12,656 times
Reputation: 10
How do I find out the tax rate? The town is Fair Lawn.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2007, 11:41 AM
 
3,219 posts, read 6,238,074 times
Reputation: 1850
Quote:
Originally Posted by B.Gates View Post
How do I find out the tax rate? The town is Fair Lawn.
The best thing to do is to call the town Tax Assessor/Collection office.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2007, 11:53 AM
 
Location: Central New Jersey
1,289 posts, read 5,853,357 times
Reputation: 299
A tax rate is calulated based on the tax rate. For example:

If you have a $100,000 assessment and the tax rate is 6.70 then you pay $6,700 in taxes a year. It is pretty simple once you find the tax rate.

Logically if your tax rate is the same then you are probably going to end up paying about triple the amount in taxes.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2007, 02:39 PM
 
9,124 posts, read 34,784,939 times
Reputation: 3617
Typically when they re-assess, the tax rate also changes- so there's no way to figure that out without knowing the tax rate used on the last tax bill when the property was assessed at $70, and the new tax rate that will be used for the new $221k assessed value.

Bob
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-21-2007, 06:38 PM
 
Location: Nashville, TN
2,865 posts, read 8,974,419 times
Reputation: 672
Quote:
Originally Posted by BobKovacs View Post
Typically when they re-assess, the tax rate also changes- so there's no way to figure that out without knowing the tax rate used on the last tax bill when the property was assessed at $70, and the new tax rate that will be used for the new $221k assessed value.

Bob
That's very true. The town of Manalapan, NJ is now facing a huge increase in the rate and assements. I'm so glad I sold before the increase came out.

Diane G
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
>
Powered by Foreclosure.com
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New Jersey
View detailed profiles of:

All times are GMT -6. The time now is 12:28 AM.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top