fishinambition

Property Tax Thread

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Anyone wanting to know about their assessment(s), how to decipher it, etc, i can prolly help. I've gotten residents back millions of $$$ and i enjoy helping people with this. I'm out of the business so this is in no way a marketing or ad ploy. NJ only, sorry.

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Posted (edited)

Cool gesture, Chris.  

 

We just recently got a property revaluation on our townhouse and our property taxes actually went down $400 for the 2023 calendar year.  This is the first time in my 35 years as a home owner in NJ this happened. :th:

Edited by GeoffT

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If your town does rolling reassessments (very common since the 2008 nosedive), there is no better time to seek a reduction on an informal level as it has no effect on the budget. Once the numbers become official, the town has no choice but to dig in. Same with revaluations. 

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Didn’t I already pay tax when I bought the place? Why am I paying it again every year and how am I being represented by doing so?

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4 hours ago, GeoffT said:

Cool gesture, Chris.  

 

We just recently got a property revaluation on our townhouse and our property taxes actually went down $400 for the 2023 calendar year.  This is the first time in my 35 years as a home owner in NJ this happened. :th:

I had the same thing, first time since I owned a house, Taxes went down 1100$

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4 hours ago, fishinambition said:

Anyone wanting to know about their assessment(s), how to decipher it, etc, i can prolly help. I've gotten residents back millions of $$$ and i enjoy helping people with this. I'm out of the business so this is in no way a marketing or ad ploy. NJ only, sorry.

Nice Gesture.  Isn't it as simple as tax rate (i.e. 1.66%) x assessed value

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6 mins ago, pakalolo said:

No thanks!!  $ 2,245 on 800k assessed is just fine

 

Wow. I know where you live and can't believe that. 

 

I'm good too at $2300 for 3 acres and a lake view. 

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12 mins ago, pakalolo said:

No thanks!!  $ 2,245 on 800k assessed is just fine

I was paying more than that per month in NJ.  

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27 mins ago, Goldy said:

Nice Gesture.  Isn't it as simple as tax rate (i.e. 1.66%) x assessed value

In calculating the tax amount yes. The assessment itself is the tricky part. I've heard it said that it's never market value, not true. In a reval or reassessment year,  it is (in theory), otherwise the equalization ratio must be applied. If the town's ratio is .85, then assessments represent 85% of market value.

 

Also, building a new house on an old foundation doesn't mean you're not being taxed as a new house. That's my favorite myth.

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At age 65 I can lock in my property tax, not the percent but the actual amount for the remainder of my life in my state. It has just passed into law....

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38 mins ago, Otter said:

Didn’t I already pay tax when I bought the place? Why am I paying it again every year and how am I being represented by doing so?

:laugh:

Death and taxes!

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5 mins ago, iphish said:

At age 65 I can lock in my property tax, not the percent but the actual amount for the remainder of my life in my state. It has just passed into law....

 

Is that NH or ME?

 

NH is already at least twice what neighboring states are. I guess if you live to be 100 the lock might get you closer.  :D

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21 mins ago, pakalolo said:

No thanks!!  $ 2,245 on 800k assessed is just fine

 

13 mins ago, Rocky_Point_Charlie said:

 

Wow. I know where you live and can't believe that. 

 

I'm good too at $2300 for 3 acres and a lake view. 

Advantages of being in a summer community. My moms is about the same as paks. I know its not technical but most of gitland is probably about for every 2 houses there is 1 school child. Out there the ratio is probably more around 25 houses per kid. Take into account the private schools and it might be 50 to 1.

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