Re: New Tax Rate is Insane! |
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Home away from home
 
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Quote:
It was sold as a package when I bought this beat-to-hell 3 family building back in '99.. My tenants use it for parking.
Posted on: Today 15:32
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Re: New Tax Rate is Insane! |
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Home away from home
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I would agree with you except this lot in question can't be built on, due to its size (small), shape, and the lack of setbacks from adjoining buildings. If I did put a 1 family on it, it would be one of those insanely skinny houses without about 7 ft of width in the interior. Basically, a multi-story closet.
Posted on: Today 7:27
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Re: New Tax Rate is Insane! |
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Home away from home
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Got my vacant lot appraisal. Raised my taxes about 100%. I expected to go up given the higher land appraisals, but not that much. The lot is small, non-build, partially paved, and has room for about three cars.
Appraised value: about $124k Seems kind of high to me.
Posted on: Yesterday 7:26
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Re: Bloomberg: Collapse of Public Pensions |
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Home away from home
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If taxes reach confiscatory levels, users will just buy via the black market. This has already happened with cigarettes. It's too late for the pension plans. The time to fix it was 20+ years ago. Sweeney, to his credit, has been trying to get the state to fix the issue clear back in 2005. I think he even hinted at moving new state employees to a 401k type defined contribution plan. The unions took him to the woodshed over that proposal.
Posted on: 4/19 16:15
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Bloomberg: Collapse of Public Pensions |
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Home away from home
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NJ leading the way...
https://www.bloombergquint.com/view/20 ... longer-a-distant-prospect New Jersey has $78 billion in its state pension fund, which is supposed to cover future payments with a present value of $280 billion. But that latter number is a projection. You can ignore it if you wish, or hope that soaring investment returns or a pandemic among retired workers will fix it. A more certain figure is that the $78 billion represents less than seven years of required cash payments. If we extrapolate from the past, rather than use promises in the state budget, current employees plus the state will contribute about $25 billion over those seven years, which could provide another few years before the till is empty. But it will also add around $60 billion of future liabilities to current employees. The system probably breaks down before the pension fund gets to zero, for example if assets were to fall below $30 billion while projected future liabilities exceeded $300 billion. Even the most optimistic people would have to admit the situation is unsustainable. This could happen in three years in a bad stock market, or perhaps 10 with good stock returns. But fund assets are so low relative to payouts that good returns aren't that helpful.
Posted on: 4/19 12:27
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Direct phone number if your trash pickup got missed? |
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Home away from home
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Something is up with the city phone system. I keep getting a busy signal with the main number. Anyone offhand know the direct phone number to where you contact public works about a missed trash pickup?
Posted on: 4/19 10:19
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Re: (4/16/2018) Storm causes flooding across Hudson County |
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Home away from home
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One of my tenants showed me some photos he took when he was in Hoboken a few hours ago. Flood waters high enough to flood out some really expensive cars.
Posted on: 4/16 11:25
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Re: Recommendation for company that issues Lead Free Certification |
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Home away from home
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Posted on: 4/13 11:47
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Re: New Tax Rate is Insane! |
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Home away from home
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Last building reassessment came in. Combined tax went down for me on all properties about $11k. That is a nice down-payment on upgrading my ugly-ass siding this summer.
Hopefully the improvements don't raise my taxes back up too much.
Posted on: 4/8 10:10
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Re: Building collapses |
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Home away from home
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Quote:
I don't see this standing up in court (yeah! more legal fees paid by us taxpayers!). His XO is sort of a warped eminent domain that deprives the property owner rights to his/her property. Hey mayor Fulop! Push for an R-5 zoning that allows people like me to build 4 family+ town homes. The Bayonne Box problem will disappear. Bonus: it will also help alleviate the shortage of affordable rental units.
Posted on: 3/23 13:53
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Re: Building collapses |
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Home away from home
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Those "Great Old Homes" around me have been run down shit-boxes with no redeeming architectural value. Granted.. the Bayonne Boxes replacing them aren't much better to look at.
Posted on: 3/23 13:40
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Re: New Tax Rate is Insane! |
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Home away from home
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Unfortunately, we will be fully gentrified with 2 family homes complete with butt-ugly pink faux-brick. I have two more under construction near me.
Posted on: 3/18 12:48
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Re: New Tax Rate is Insane! |
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Home away from home
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Quote:
I've had a back and forth with the wife about cancelling further capital improvements and just selling everything, except the place we live in. My concern that this might be the mother of all bubbles and prices like this won't be seen again. Sort of like selling Dot.Com stocks when the NASDAQ was pushing 5,000.
Posted on: 3/18 11:26
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Re: New Tax Rate is Insane! |
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Home away from home
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So I got property #3. Savings about $1,700.
So overall, I got a modest decrease. I'll take it....
Posted on: 3/18 11:19
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Re: New Tax Rate is Insane! |
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Home away from home
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The one thing about these appraised values:
If I bought either of these two buildings at the appraised price, I would be cash flow negative. No way the rents would cover, even at lower interest rates. Something tells me at some point in the future, we will see the mother of price deflation when it comes to real estate.
Posted on: 3/17 14:07
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Re: New Tax Rate is Insane! |
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Home away from home
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My Palisade ave property came in. About $1,475 increase. So that pretty much cancels out the decrees on my other property. I expected to get a much bigger increase though, since I was under-assessed.
Posted on: 3/16 18:03
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Re: New Tax Rate is Insane! |
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Home away from home
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I haven't looked at the deed since I bought the place nearly 20 years ago. I think it is all on one deed. However, the empty lot is listed on a separate block and lot number. It created some confusion years back when the bank who held the mortgage failed to pay the taxes on the parking lot. Appeal is not an option. I know for a fact I am under-assessed. After renovating the place 20 years ago, for some reason, i never got re-assessed (lucky me).
Posted on: 3/14 11:58
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Re: New Tax Rate is Insane! |
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Home away from home
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Quote:
I got a 13.6% reduction on my one Heights property. The building in question has a non-build lot attached to it currently used as tenant parking. Unfortunately, it isn't listed on the appraisal list. So I may get hosed a bit based on what I am reading on the increasing value of land. My one property near North st. though I am sure will get a hefty increase. Too many giant homes renovated after the light rail went into operation.
Posted on: 3/14 9:10
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Re: 'Porch pirate' charged with snatching bait package, throws fit at court appearance |
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Home away from home
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I don't know what happened to him. It was one of those stories that came and went out of the news, unlike Bernie Goetz. Goetz, if he didn't turn himself in, would have gotten away with it.
Posted on: 3/8 13:27
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Re: 'Porch pirate' charged with snatching bait package, throws fit at court appearance |
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Home away from home
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Something has to be done or out of frustration, people go the vigilante route. I remember a case way back in the early '90s in NYC. This one criminal would break into every car in the neighborhood, smashing windows, and taking whatever he could. It was endless 'catch and release'. He would just go back to smashing up car windows. At one point, the police just stopped showing up. One victim had enough and dispatched Mr. Car Window Smasher into the 'great beyond'. He of course was arrested and charged with murder. I think if I was on that jury, I would be tempted to let the guy go. In Germany, where regular police enforcement fails, the vigilante patrols are starting to coalesce.
Posted on: 3/8 9:33
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Removing a massive pile of branches. Who to call? |
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Home away from home
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The storm took out my pyracantha bushes (they were very large). I am doing a massive prune back in hopes of getting them upright again (hoping the root damage is not fatal).
Is it Public Works or Parks & Forestry you have to call to arrange to have them ground up a disposed of? Nobody is answering their phones yet (assume delayed openings).
Posted on: 3/8 9:27
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Re: 'Porch pirate' charged with snatching bait package, throws fit at court appearance |
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Home away from home
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Quote:
This was the motivation for the '3 time loser' type laws. Three felonies and the judge has the option of putting you away for a very, very long time. You can only remove anti-social elements from society.. reforming them is impossible. However, prison are overcrowded and judges are loathe to fill them up even more. A (now retired) sherriff's deputy told me how he would piss off the judge by digging through the law books, charging perps under statutes that couldn't be plead down easily to a misdemeanor. So at least, the perps would be pulled off the street for a few days, sitting in county jail. Dealing with the perpetual criminal has been the bane of the civilized world for ages. In the past, the French and English established penal colonies. Singapore today has them beaten with a cane so hard their asses fall off.
Posted on: 3/8 8:21
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Re: tax reval result on a Google Map |
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Home away from home
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My previous home on Fairmount Ave got about a $2k decrease. The guy that bought the place must be smiling.
Posted on: 3/7 14:10
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Re: Krispy Kreme Doughnuts |
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Home away from home
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Quote:
It's a combination of carbohydrate intake and genetics. Example: My wife's home country, people consume a lot of carbs (rice & cane sugar), but they generally don't get fat. However, type 2 diabetes is rampant. This is typical for Southeast Asians. The key to controlling appetite is controlling insulin. It is carbohydrates that trigger an insulin response as the carbs are broken down into glucose. Whatever is not burned is stored into fat. For those of us prone to being obese, your fat cells don't give up energy easily. Instead, you get VERY hungry once your glucose stores run low. This is what makes calorie restriction so hard to accomplish. https://youtu.be/mNYlIcXynwE (sometimes I can't get Youtube to embed properly on this board). Two years ago, I hit a plateau with trying to lose weight, despite doing serious, hardcore workouts 3x a week. Someone who had a similar issues in the past recommended Keto to me. After doing some research, I went ahead and tried it (against the advise of my Dr.). Keto is high fat, moderate protein, and very low net carb intake (<50 grams.. hardcore people do a max of 20 grams a day). The advantage since your body is not running on glucose, you don't get the sensation of being starved and weak when you don't eat for long periods. Results: Painless weight loss (except for the adjustment period). 40+ lbs so far. No calorie counting needed. No more migraines (chronic for me since age 14) Excellent blood work (my doctor was shocked). Being able to go the whole day without eating and not feel any sense of weakness or brain fog. I am a piker in comparison to others. I have seen people take off 100+ lbs, reverse insulin resistance issues, and keep the weight off. Downside: No more doughnuts, rice, pasta, sugar sweetener, potatoes, bread, etc..... More here: https://keto-calculator.ankerl.com/ http://www.ketotic.org/2012/05/keto-a ... hat-it-is-and-how-to.html
Posted on: 2/8 18:41
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All your recycling headed for a landfill? |
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Home away from home
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Anyone know if the city is having major issues getting rid of the plastic, paper, and cardboard it collects?
India put major restrictions on imports of recycled plastic. Starting this year, China pretty much banned the importation of recycled plastic and severely restricted unsorted paper. There is a crisis building (in particular in Western Europe) as China was where 90% of the plastic was shipped off to. Piles of plastic are now piling up with no market. This is sort of what happened in the '90s when a lot of the recycled plastic and paper ended up in the landfill. A few years ago, I was told by a rep from the Incinerator Authority, that money was being made on the recycling. If there is no longer a positive cash flow, do we get a tax increase to cover the increased disposal costs? https://www.npr.org/2017/12/09/5687973 ... -china-bans-foreign-waste
Posted on: 2/5 13:37
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Re: Flu shot at Target? |
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Home away from home
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The SARS outbreak in southern China and Hong Kong was on the same order. People were given steroids to pull back their immune systems. They survived the flu only to later die a slow death from their bones disintegrating. The doses of steroids given were too high, which in turn, destroyed the capillaries in the patient's bones. I was traveling through Hong Kong at that time. The HK authorities had people in gloves and mask taking passenger body temps with infrared temperature guns.
Posted on: 2/4 10:54
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Re: Flu shot at Target? |
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Home away from home
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The Rite-Aid on Central Ave told me theirs are for the elderly only.
Posted on: 2/1 17:55
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Re: New Tax Rate is Insane! |
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Home away from home
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I wonder if JC will see a massive amount of tax appeals, like the city did in the early '90s?
Posted on: 2/1 17:49
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Re: New Tax Rate is Insane! |
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Home away from home
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Years back when I went through my tax appeal, there appeared to be buildings in the downtown that looked like they were headed for a 250% to 300% increase in taxes, if /when the revaluation took place.
As bad as you are getting clobbered, others might be a lot worse.
Posted on: 2/1 17:48
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Re: Rent increases in light of revaluation |
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Home away from home
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Some years back, my attorney who was reviewing my lease said there is a state statute that prevent 'unconscionable rent increases'. You couldn't say raise rent 150% when the lease went month to month. The purpose was to prevent landlords from using rent to get rid of a tenant.
Would this law apply to having to do say a 30% increase to offset your 100%+ increase in property taxes? I don't know. As others have pointed out, the market may not tolerate such an increase, even if you are legally entitled to do it. I just rented two vacancies. Given the strong interest and ease of renting them, it appears the mid-price rental market is still strong. For the higher end ($2,000+ a month 1 & 2 bed), I have some anecdotal evidence , from high end apartments having to cut rents, due to lack of demand.
Posted on: 1/31 8:02
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