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Old 01-02-2012, 05:32 PM
 
1 posts, read 1,390 times
Reputation: 10

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We are facing a 14.9% increase in maintenance fee at this coop in Bergen county. REason given was that there has been a 30% increase in property taxes.

We pay our own utilities.

What ever happened to the promised 2% maximum in property tax increases?

Is this outrageous maintenance fee increase legal?
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Old 01-03-2012, 04:38 PM
 
831 posts, read 2,829,062 times
Reputation: 734
Quote:
Originally Posted by cw205 View Post
We are facing a 14.9% increase in maintenance fee at this coop in Bergen county. REason given was that there has been a 30% increase in property taxes.

We pay our own utilities.

What ever happened to the promised 2% maximum in property tax increases?

Is this outrageous maintenance fee increase legal?
Yes. That's why I won't buy a coop. I rather do my own maintenance.
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Old 01-03-2012, 04:51 PM
 
19,162 posts, read 25,405,963 times
Reputation: 25470
Quote:
Originally Posted by cw205 View Post
We are facing a 14.9% increase in maintenance fee at this coop in Bergen county. REason given was that there has been a 30% increase in property taxes.

We pay our own utilities.

What ever happened to the promised 2% maximum in property tax increases?

Is this outrageous maintenance fee increase legal?

A 30% increase in local property taxes?
Unless there was a gross error in prior tax assessments, I doubt very much that there was a 30% increase in property taxes in this mystery municipality.

Since property taxes are a matter of public record, I suggest that the OP visit the tax collector's office in this mystery municipality, and ask to see documentary evidence of last year's tax assessment for that co-op vs this year's tax assessment.
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Old 01-09-2012, 10:38 PM
 
Location: Montclair, NJ
478 posts, read 1,232,032 times
Reputation: 156
A new assessment plus a tax rate increase could, in theory, result in a 30% jump in taxes. At least that portion is tax deductible. the real damage is what it did to the resale value.
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