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I know someone that moved from Essex County to Morris County. The price of the house is the same and their taxes in Morris County are 2k less per year. The bad news is they now added 30 minutes each way to their daily commute sitting in traffic along I-80.
Yep, you pays your money and you takes your choice. 2k in property taxes for an hour of commute is a terrible deal IMO. That's like getting paid less than $8.50/hr.
Yeah those taxes :/.. On a good day husband can make it back from Harrison to here in less than 30 minutes. Worse driving company car from the city, but he doesn't mind. I like it overall here, just the tiny houses with small lots and in need of serious upgrades are at least 400k. I won't commute to the city, if anything will work locally so it's only one person commuting.
All of Essex County does. There are tons of great towns there that are very much right up my alley, but I could never justify buying there because of the millage rates. It’s really unfortunate. Morris looks so much better. Union County doesn’t seem so bad relatively speaking either.
While a lot of Essex does, WO has particularly high taxes for cheaper properties, so in the end you may have a cheaper mortgage but it's all the same when you have the higher taxes.
To answer the original question, Caldwells under 400k, North, no shot, Caldwell/West, maybe but extremely slim pickings if at all IMO.
Yep, you pays your money and you takes your choice. 2k in property taxes for an hour of commute is a terrible deal IMO. That's like getting paid less than $8.50/hr.
It can be a lot more than $2000 a year though. If talking about similar prices homes, here is an example that shows a way bigger difference.
$1.049M house in Madison vs $1.099M in Maplewood. The former’s current assessment is $474,700. Property taxes were $8,901. Millage rate of 1.88%. Looks like it’s new construction built this year, so that will change, but let’s assume the millage rate remains. The latter’s current assessment is $717,500. Taxes $23,256. Millage rate is 3.24%. Wow!
Now let’s assume the current listing prices are more reflective of the true assessment. Both could be assessed at roughly $1M. Applying the same millage rates means you pay roughly $18,800 in Madison vs. $32,400 in Maplewood! That is substantial.
Do people generally think in these terms when shopping for a home or are they more concerned with overall cost?
Oh definitely. It's one of the first questions I'm asked by most buyers. What are the taxes? Is there an HOA fee? Many buyers give me search parameters that specify a property tax less than a specified amount.
Oh definitely. It's one of the first questions I'm asked by most buyers. What are the taxes? Is there an HOA fee? Many buyers give me search parameters that specify a property tax less than a specified amount.
Despite this, super high tax towns like Montclair and Maplewood have bidding wars for homes, as the location and amenities of these towns outweigh living in the boonies of lower tax towns.
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