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or, should we just rent? We are being relocated from Arizona and our property taxes are $2500 a year. From what we have analyzed so far, our property tax payments in NJ would be more than our total mortgage and property tax payments currently are here in AZ. Help! We are scared! Yes, we will make more....but not enough to cover these huge increases to live.
South River and Monroe in Middlesex County have lower taxes. Monroe's real estate is more expensive, but some areas of the town have less expensive homes and the taxes are cheaper. Brick also has really low taxes and the homes are reasonably priced. Plus it was voted the safest city in the country AND it's closer to the beach and after living in Arizona...you need a beach :-) We looked there, but ended up in South River.
South River and Monroe in Middlesex County have lower taxes. Monroe's real estate is more expensive, but some areas of the town have less expensive homes and the taxes are cheaper. Brick also has really low taxes and the homes are reasonably priced. Plus it was voted the safest city in the country AND it's closer to the beach and after living in Arizona...you need a beach :-) We looked there, but ended u p in South River.
You can always drive to the beach, but living in South River gives you quick access to one of New Jerseys' jewels. Ria Mar! comer bon....
Ocean County, Brick Town. Not only are the taxes less but, It's also the safest town in the U.S., according to the FBI report out last week. You can live by the water, or even on the water.
or, should we just rent? We are being relocated from Arizona and our property taxes are $2500 a year. From what we have analyzed so far, our property tax payments in NJ would be more than our total mortgage and property tax payments currently are here in AZ. Help! We are scared! Yes, we will make more....but not enough to cover these huge increases to live.
I do not think there is such a town with low property taxes. I live in South Jersey in a med. size home. My property taxes are almost 6 thousand a year.(and that is on the low side) We are moving to Tucson in the spring. I can't wait to have your property taxes. Arizona has one of the lowest property taxes. You are moving to a state with the highest!!!
Basically it all depends on where you want to live. I live in East Rutherford which is 10 minutes from Manhattan and there is a train station and bus lines that run threw the town. The taxes are low on an older home but the high school sucks and the home prices are starting for a 2 bedroom home on a 100x50 lot for 350,000 so good luck. You really have to look town to town for low taxes because if you go into lets say Rutherford which is down the block from me the taxes go up a substantial amount but the schools are much better. really it all depends on your needs.
A big question is where are you (or your husband) going to be working? That will limit the geographic area to some extent.
But as a general rule, property taxes are high across NJ. And yes, you've discovered that the slightly higher salaries do not even come close to compensating for the higher cost of living around here -- despite our arrogance we simply have a lower median standard of living in places like NYC/NJ.
And as a general rule, it almost always makes sense to rent for the first year after a relocation-based move, because there's no way for you to really get to know the area (and figure out what towns you might want to live in) without spending a substantial amount of time here. In this market, you could end up underwater on a home purchase and unable to sell if you bought in a place that turned out to be not to your liking, so you want to be absolutely sure you're in it for the long term if you buy anything. And the only way to really know that for sure is to take your time getting to know the area, and to rent for that first year.
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You can live by the water, or even on the water.
What area in Jersey??
