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Old 01-18-2022, 02:09 PM
 
452 posts, read 348,220 times
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One of my neighbors in my low tax town had an annual bill of $60,000....

Now that is insane.

His home is worth at max $4M... so imagine paying roughly 20% of your home's value in property taxes in 10 years....
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Old 01-18-2022, 02:12 PM
 
Location: Bergen County, NJ
3,992 posts, read 3,549,025 times
Reputation: 5760
Quote:
Originally Posted by astrocytoma View Post
One of my neighbors in my low tax town had an annual bill of $60,000....

Now that is insane.

His home is worth at max $4M... so imagine paying roughly 20% of your home's value in property taxes in 10 years....


We don’t have to imagine it….

I can only hope it’s worth a lot more if/when I decide to sell.
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Old 01-18-2022, 02:17 PM
 
452 posts, read 348,220 times
Reputation: 497
Quote:
Originally Posted by HudsonCoNJ View Post
We don’t have to imagine it….

I can only hope it’s worth a lot more if/when I decide to sell.
You have my sympathy. A home is only worth what someone pays for it... and I guess it all depends on the buyer past the $3M mark.

His was a new construction which he built himself after buying 1.3 acres of land with a knockdown house.

You can never be sure what the assessment might be until its done, and his was a sticker shock

The only consolation prize is... a similarly tax asssessed house in other towns could have a bill close to $90,000 or higher... !!!

New Jersey seriously needs to look into its spending problems.
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Old 01-18-2022, 02:19 PM
 
452 posts, read 348,220 times
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My family has been really lucky. By choosing only low tax towns we keep our bills in 20s... but even that feels like a waste of money.
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Old 01-18-2022, 02:41 PM
 
Location: Bergen County, NJ
3,992 posts, read 3,549,025 times
Reputation: 5760
Quote:
Originally Posted by astrocytoma View Post
You have my sympathy. A home is only worth what someone pays for it... and I guess it all depends on the buyer past the $3M mark.

His was a new construction which he built himself after buying 1.3 acres of land with a knockdown house.

You can never be sure what the assessment might be until its done, and his was a sticker shock

The only consolation prize is... a similarly tax asssessed house in other towns could have a bill close to $90,000 or higher... !!!

New Jersey seriously needs to look into its spending problems.


I don’t really have a lot of sympathy for the guy with a $4 million dollar house and his property tax bill. Someone like that has a lot of control over where to live.
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Old 01-18-2022, 02:45 PM
 
1,471 posts, read 3,438,782 times
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While I do think things can be done to lower property taxes some in the state, we ain’t never gonna property taxes like the southern states.

The flip side of that is our high taxes are why when I needed an ambulance many years ago, seven people from the town’s volunteer squad were at my apartment in two minutes. Meanwhile, my mother lived in Jacksonville, FL for many years and had a lot of health problems. When she needed an ambulance, it typically took 45 minutes to arrive at her apartment. Plus, the cost was billed to her Medicare/Medicaid. And do we really neee to compare NJ’s schools to FL’s?

As long as I can afford ‘em, gimme the higher taxes and better services…
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Old 01-18-2022, 03:21 PM
 
Location: Bergen County, New Jersey
11,989 posts, read 7,757,101 times
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Quote:
Originally Posted by astrocytoma View Post
One of my neighbors in my low tax town had an annual bill of $60,000....

Now that is insane.

His home is worth at max $4M... so imagine paying roughly 20% of your home's value in property taxes in 10 years....
No sympathy lol. Hell be just fine
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Old 01-18-2022, 03:44 PM
 
Location: Union City, NJ
421 posts, read 298,712 times
Reputation: 799
Quote:
Originally Posted by masssachoicetts View Post
No sympathy lol. Hell be just fine
Right?? He's paying a 1.5% tax rate. That's below average in NJ. Even if the place was worth "only" $3MM, it would be relatively par for the course.
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Old 01-18-2022, 06:16 PM
 
31,656 posts, read 26,516,377 times
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Quote:
Originally Posted by HudsonCoNJ View Post
I don’t really have a lot of sympathy for the guy with a $4 million dollar house and his property tax bill. Someone like that has a lot of control over where to live.
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Old 01-18-2022, 11:37 PM
 
Location: 32°19'03.7"N 106°43'55.9"W
9,341 posts, read 20,689,451 times
Reputation: 9877
Quote:
Originally Posted by HudsonCoNJ View Post
I don’t really have a lot of sympathy for the guy with a $4 million dollar house and his property tax bill. Someone like that has a lot of control over where to live.
And he would be wise to move out of state. Much more value once you leave the Boston-DC Corridor.
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