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Old 05-31-2016, 06:38 PM
 
11,337 posts, read 10,344,149 times
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Quote:
Originally Posted by Docendo discimus View Post
No. That's NOT the topic. That was not the OP's intent. YOU hijacked & derailed the thread to push your own agenda.
The original post contained a link to the town website that attempted to enlist real estate agents as community promoters. That is decidedly not our job. Our job is to protect our buyers from making a poor decision by giving them ALL the information good and bad. In West Orange, the rate of property taxation is BAD. And that is something all buyers need to know before considering residency. Some may decide to accept the confiscation and live there anyway. That's fine, as long as they know what they are getting themselves into.
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Old 05-31-2016, 08:20 PM
 
Location: New Jersey
538 posts, read 1,107,326 times
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Not to derail an already off topic discussion..

Would love Marc's thoughts on Jersey City.. tale of *2* cities actually.. one half pays none (Greenville), while the other half pays some (downtown, most prestigious).. and the middle, heights pays the most!
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Old 05-31-2016, 08:24 PM
 
3,960 posts, read 3,265,196 times
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Quote:
Originally Posted by Marc Paolella View Post
Some may feel threatened by it, or more likely envious of it, but the fact remains: prestige exists. It is real. It is a factor. The buying public is aware of it and pays attention to it. Some towns have it. Others don't. And those that have it, have it because of wealth. Those that don't care about it may continue living their normal schedules. However, trust me, a large segment of the buying public values living in a prestigious town if they can afford it.
No.
I lived in Short Hills for years.
Hated it.
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Old 05-31-2016, 09:37 PM
 
Location: West Orange, NJ
727 posts, read 1,862,480 times
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Quote:
Originally Posted by Marc Paolella View Post
The original post contained a link to the town website that attempted to enlist real estate agents as community promoters. That is decidedly not our job. Our job is to protect our buyers from making a poor decision by giving them ALL the information good and bad. In West Orange, the rate of property taxation is BAD. And that is something all buyers need to know before considering residency. Some may decide to accept the confiscation and live there anyway. That's fine, as long as they know what they are getting themselves into.
Essex County taxes are worse than Bergen no question about it. To compare Saddle River (multi million dollar homes, very little city services) to West Orange is ridiculous. Yes, West Orange taxes are a little worse than SO, Montclair, Maplewood, etc but you will still pay more tax there due to higher property value. I wonder if your issue with Essex County has to do with your client base being Bergen County based.
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Old 05-31-2016, 10:03 PM
 
11,337 posts, read 10,344,149 times
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Quote:
Originally Posted by SonorityGenius View Post
Not to derail an already off topic discussion..

Would love Marc's thoughts on Jersey City.. tale of *2* cities actually.. one half pays none (Greenville), while the other half pays some (downtown, most prestigious).. and the middle, heights pays the most!

Interesting. So Jersey City has professional fire and EMS and every service imaginable. So the taxes for our prototypical $650,000 residence should be off the wall, and I should be readying another scathing tirade on collectivist property tax redistribution.

But lo and behold my research shows that the taxes for that property are only going to be $8,450. Hmmmmm.

So of course that is still too high for someone like me, but not bad all things considered. Much better than $18,500 for a 1950's Cape in West Orange with the dormers where you hit your head on the ceiling in the bedroom. Come to think of it, I may be on to something and that may be the problem afflicting many of the residents who persist in accepting such confiscatory taxation. But anyway...

Of course, we're usually talking a condo in Newport or Downtown or a 2-4 family home in the Heights or Journal Square in that price range in Jersey City. If you can believe it, there have been only 6 single family homes that have sold between $600,000 and $700,000 in all of Jersey City over the past year, at least through the Hudson County MLS. Everything else is a multi or a condo.
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Old 05-31-2016, 10:16 PM
 
Location: West Orange, NJ
727 posts, read 1,862,480 times
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Quote:
Originally Posted by Marc Paolella View Post
Interesting. So Jersey City has professional fire and EMS and every service imaginable. So the taxes for our prototypical $650,000 residence should be off the wall, and I should be readying another scathing tirade on collectivist property tax redistribution.

But lo and behold my research shows that the taxes for that property are only going to be $8,450. Hmmmmm.

So of course that is still too high for someone like me, but not bad all things considered. Much better than $18,500 for a 1950's Cape in West Orange with the dormers where you hit your head on the ceiling in the bedroom. Come to think of it, I may be on to something and that may be the problem afflicting many of the residents who persist in accepting such confiscatory taxation. But anyway...

Of course, we're usually talking a condo in Newport or Downtown or a 2-4 family home in the Heights or Journal Square in that price range in Jersey City. If you can believe it, there have been only 6 single family homes that have sold between $600,000 and $700,000 in all of Jersey City over the past year, at least through the Hudson County MLS. Everything else is a multi or a condo.
18500 for a 1950s cape? Thats mistaken. Having shopped the cape market in WO extensively ( due to my low budget lol) I didn't find anything over 12k. Most were much less.
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Old 05-31-2016, 10:19 PM
 
11,337 posts, read 10,344,149 times
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Quote:
Originally Posted by nykstevenyg View Post
Essex County taxes are worse than Bergen no question about it. To compare Saddle River (multi million dollar homes, very little city services) to West Orange is ridiculous. Yes, West Orange taxes are a little worse than SO, Montclair, Maplewood, etc but you will still pay more tax there due to higher property value. I wonder if your issue with Essex County has to do with your client base being Bergen County based.
My issue is with taxes, not places. Essex County has plenty of places I could easily enjoy living in. Belleville comes to mind. Yes, it's very working class but I like the downtown and it's close to everything. But even there the taxes are very high. Montclair is also cool because it has nice architecture and I sense some quality and sophistication in the residents. Are too may of them dopey vegans? I am not going to say that, but the question has been asked in certain publications which escape my memory at the moment.
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Old 05-31-2016, 10:23 PM
 
11,337 posts, read 10,344,149 times
Reputation: 14993
Quote:
Originally Posted by nykstevenyg View Post
18500 for a 1950s cape? Thats mistaken. Having shopped the cape market in WO extensively ( due to my low budget lol) I didn't find anything over 12k. Most were much less.
You've got me there, but that's because the Cape market in WO is low to mid 300s instead of my prototype at $650,000. But still. $10,000 for a $325,000 Cape with the dormers? That's still robbery.
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Old 05-31-2016, 10:43 PM
 
Location: West Orange, NJ
727 posts, read 1,862,480 times
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Quote:
Originally Posted by Marc Paolella View Post
You've got me there, but that's because the Cape market in WO is low to mid 300s instead of my prototype at $650,000. But still. $10,000 for a $325,000 Cape with the dormers? That's still robbery.
Agreed, taxes in New Jersey are robbery and thats a bigger issue itself. However the robbery is not a West Orange or Essex County issue. A 325k cape anywhere will have taxes of at least 7-8k. To take it a step further if you find a cape thats 325k in a more expensive town you will pay the same 10k tax as West Orange just a lower percent on a higher principal. Taxes in NJ are a major rip off and people should protest and take action. In all seriousness I did the tax math extensively and saw that West Orange taxes are not that much of a rip off relatively speaking. Keep in mind this was in my situation with a 300k budget where the net difference is minimal.

Unfortunately so much tax money is misused by the local, state and federal government. we really need accountability, efficiency and ways to increase/maintain services at a lower cost.
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Old 06-01-2016, 08:06 AM
 
15 posts, read 26,167 times
Reputation: 10
As a potential buyer in West Orange this thread has been incredibly informative..and entertaining!
To what someone else mentioned, it IS easier for me to rationalize spending more a house with lower taxes then buying a cheaper home with higher taxes...and from a financial standpoint doesn't the former make more sense? Also as I've been looking for the past year (as we prepare to sell our house before buying), I've seen prices go up in WO (at least where we are looking) and granted this is peak season, but the last thing I want to do is get a pricier house AND higher taxes. EX: a house for 350-375k with higher taxes, fine, but a house for 450-500k and 17k taxes? I can't stomach it!
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