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Re: Gulls Cove 2 Condos

Yup I was referring to the new gulls cove 2. They said they have an abatement agreement at 1.65% as compared to 2+% for the city

Posted on: 2017/10/11 13:05

Gulls Cove 2 Condos


I am trying to evaluate a condo purchase at the Gulls Cove 2. Although the prices do seem generally in trend with the overall JC market but the taxes seem really high.
For a $1.2 million condo the taxes were quoted to be around ~19-20k post tax abatement.

a. Is this generally the new tax rate in Jersey City?
b. I have seen taxes on older property considerably lower in Jersey City. Does that mean that taxes on these properties will also rise to equal the taxes on the new construction after the ongoing reval?
c. What do you all think of this as investment if I have a 5-10 year horizon?
d. Gulls Cove2 does currently fall under the famed PS16. Is there a chance of rezoning? How often does that happen?

Our budget would go for a toss if we had to pay for private schooling and the ~$19-20k in taxes every year.

I wanted to get your thoughts on this topic.

I appreciate all your help in advance!


Posted on: 2017/10/10 18:39




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