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You started the exact same post on 01-25-2017 under the subject "Property Taxes Up, Up, Up" which is currently a very active thread. What is the point of all these duplicate threads?
It really is useless to give a chart of "avg tax bill" when what really matters is the Effective Tax Rate.
Yes. We're in the low 500s on that list, but there are no single family houses in towns. It's co-ops and condos. Someone once said we have one of the highest rates, but of course, we don't have the highest taxes in dollar value.
It really is useless to give a chart of "avg tax bill" when what really matters is the Effective Tax Rate.
The average tax bill is easily skewed by the value of the homes in a town and is not necessarily indicative of the tax rate. A town like Alpine has a high average because it's all multi-million dollar properties. However it's tax rate is actually dirt cheap at less than 1%. Meanwhile a poorer town like Irvington has a really high tax rate, but its properties aren't worth much, so the tax bill average is still low.
The effective tax rate is a better comparison method because it adjusts for the varied assessment methods in different towns. But if you want to calculate the actual tax bill on a certain home, then you need the general tax rate.
Comparing tax rates which is what the real metric should be. That'll comparatively tell you what a $500k home would cost you in taxes anywhere from Hoboken to Ho-Ho-Kus. Essex County remains the worst in my book with the most towns with tax rates 3% and above.
Can anyone tell me an estimate/average price that they pay in property taxes a yr in MIDDLETOWN , NJ ... North Middletown the listing price on the house in question is $147,000.00
Any input/help is very much appreciated and helpful. I thank you in advance for your help.
Can anyone tell me an estimate/average price that they pay in property taxes a yr in MIDDLETOWN , NJ ... North Middletown the listing price on the house in question is $147,000.00
Any input/help is very much appreciated and helpful. I thank you in advance for your help.
It's difficult to answer your question with the information provided. According to NJ.com, the average property tax in Middletown was $11,298 in 2016. On the specific property you are asking about, we'd need the tax assessment, not the sale price to calculate the taxes. The two numbers are rarely the same unless it's new construction. That said, if we assumed that particular property you reference was assessed at $147k, the 2015 taxes would have been $3238.92 based on Middletown's 2.136% tax rate at that time. 2015 is the last year I could find tax rate info. The tax rate has almost assuredly gone up since then. But that gives you a ballpark figure.
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