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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
 
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You're absolutely right it's made deliberately impenetrable. To have the line of average values without a line of what it is after equalization is not useful in the least. If you want to see real obfuscation, check out the "easy read" version of the school budget. And what's with the $12,250 average tax in Weehawken? Can that be right? Holy crap! Thier average real value calculates to $590k, can that be right for Weehawken?
Posted on: 2015/2/9 21:30
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Exactly!
Posted on: 2015/2/9 21:08
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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That doesn't negate the obscene rise in taxes.
Posted on: 2015/2/9 20:55
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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The whole thing is confusing to the average taxpayer. And probably deliberately so. It would be much more transparent if the City or County did the math and always showed assessed values based on implied current market value - that's to say show actual assessed value= current assessed/equalization rate for JC.
Posted on: 2015/2/9 20:17
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Girl bye!
Posted on: 2015/2/9 20:16
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2014/6/9 22:10 Last Login : 2017/6/16 11:22 From Jersey City, NJ
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Cool story bro.
Posted on: 2015/2/9 19:58
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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an average is the sum of a list of numbers divided by the number of numbers in the list. In mathematics and statistics, this would be called the arithmetic mean. However, the word average may also refer to the median, mode, or other central or typical value... no need to get your panties in a twist.
Posted on: 2015/2/9 19:40
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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so all the arguments? and why bash the journalist. journalists/analysts use averages all the time and these averages do not reflect what is going on in a sub market. people all the time talk about average us or average nyc home price gains which are meaningless if one is interested in a penthouse on 5th avenue or a house in camden
Posted on: 2015/2/9 19:30
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Exactly. Your explanation makes perfect sense and it is probably the only correct one. As we continue to push off that reval, while other towns meet their legally requirement to do so, we keep postponing the pain. Is it politically expedient? No, but it HAS TO GET DONE. I am surprised the county has allowed JC to continue shirking their responsibility in getting this done. How much longer until we see fair taxation?
Posted on: 2015/2/9 19:22
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Yeah but that was not the main thrust of the bad story. You would have thought he could see his error in the numbers he reported. But this is an example of why the reval mess is poorly reported too, they simply don't put in the time to understand the tax system and it's terms.
Posted on: 2015/2/9 19:01
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Nailed it. The headline is 1/2 right though - taxes did skyrocket in JC 2004-2014 mostly during the Healy years. I'd await my yearly tax mugging - and the accompanying pathetic excuses from City and County. Most galling was that the pols claimed the increases were all "one-off" - but none ever got rolled back.
Posted on: 2015/2/9 18:46
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Took a look a the data, I believe the "reporter" made the mistake of thinking "Average Residential Property Value" meant actual sales/comp values, rather than assessed values. In JC, that value is about 1/3 actual, using the .3002 equalization rate. If so, that explains everything! Of course JC has a fraction the value of recently revalued Hoboken. Triple the JC number to real value not assessed value and it starts to seem correct, no? And the Hoboken reval explains the "dramatic uptick in Hoboken average residential property values". The table shows Hoboken average value $522k to JC's $91k, but the average tax is only 9.6% higher. Case closed. Nothing to see here.
Posted on: 2015/2/9 17:51
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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I'm shitting on his work because it is meaningless. A person doesn't choose between NYC, NY and Messena, NY. Likewise, no one in their right mind is choosing between DTJC and Greenville. It's a stupid comparison and I have every right to shit on his work.
Posted on: 2015/2/9 17:44
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2014/9/19 1:29 Last Login : 2020/3/12 17:59 From Hamilton Park
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How is this a reflection on the quality of the journalism if the report that the story is based on only looks at municipalities as a whole? I clicked through to the report - it is nothing more than a massive excel table. The reporter, clearly looking for an angle to hang a story on, compared the 2014 data for JC and Hobroken with the 2004 data and that was his way in turning a dry spreadsheet from a state agency into a general interest story that generates clicks. If anything, this is a (very rare) example of imaginative reporting by the JJ. The people moaning that "good journalism" would have been a comparison between DTJC and Hobroken property values are complaining because they want to read a different story to the one being reported. If that is what you're after, there are a ton of real estate websites and tools (zillow, trulia, streeteasy, etc) that will allow you to configure a search comparing condo price appreciation between Hob and DTJC. But I think it is unfair to shit on this guy's work because his story is not the one you're interested in reading.
Posted on: 2015/2/9 17:25
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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JC is as homogeneous as the state of New York.
Comparing all of JC to Hoboken is worthless. We all know that where property prices are increasing (DTJC) and where they are decreasing (greenville) so can we have a neighborhood to neighborhood comparison?
Posted on: 2015/2/9 17:00
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Does running a government cost less because the houses are less expensive? Why shouldn't JC's taxes be similar to Hoboken's?
Posted on: 2015/2/9 15:38
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2014/6/9 22:10 Last Login : 2017/6/16 11:22 From Jersey City, NJ
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Yes, we can all read, thanks. But that still doesn't make it a good analysis or good journalism. Inwood and Tribeca might as well be in different states, and yet they're both in Manhattan, rendering any "averaging" across the island pretty meaningless.
Posted on: 2015/2/9 14:58
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Keywords "Jersey City" "Average" This article is about Jersey City (can you handle that?) the article does not mention dtjc as if it was some separate city, besides you should be thrilled because your home value is not the average, there are "neighborhoods" just south of you where houses are worth about 90k and their property taxes are about 5k in this city you live in.
Posted on: 2015/2/9 14:16
Edited by user1111 on 2015/2/9 14:39:54
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2014/6/9 22:10 Last Login : 2017/6/16 11:22 From Jersey City, NJ
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Exactly. Bad journalism strikes again. Hoboken is really just one neighborhood like a Harlem or a Tribeca, even though it's, legally speaking, a city. My DTJC home is up almost 60% in value since I bought it 3 years ago.
Posted on: 2015/2/9 14:09
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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That is true, but the fact remains that, when taken as a whole, the average tax levy and average home value ratios are CRAZY. While the house value ratio is almost 6:1, the taxes are 11:10. The question the residents of Jersey City should be asking themselves is: why our taxes SO MUCH HIGHER (on average) than those of Hoboken. And, not to derail the conversation, but this segues into many other JCLIST threads already in progress: namely school performance and the expectations of new-comers ("damn interlopers with their damn high expectations!") and condition of our roads ("why can't newcomers just accept that our roads suck ass!?") and overall poor performance of our government entities ("this is the way it has always been! Deal with it...") At what point do we start to see an improvement in schools, city infrastructure, and city services, commensurate with the level of taxes we are paying???
Posted on: 2015/2/9 14:05
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Re: Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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2014/8/19 16:35 Last Login : 2019/1/12 22:36 From the village
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re: JC compared to Hoboken
You're comparing what are literally order of magnitude differences in city size (1.3sqm / 15sqm). I'm sure a more accurate comparison worthy of assessment would be all of downtown to Hoboken.
Posted on: 2015/2/9 13:27
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Property values skyrocket in Hoboken, taxes skyrocket in Jersey City.
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Home away from home
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Mike D'Onofrio | The Jersey Journal
How much has the value of your Hudson County home increased in the last decade? To answer that question, it all depends on where you live. Average property values in Hoboken have skyrocketed over the past 10 years, while they stagnated in Jersey City, and actually decreased on average in Bayonne. And in some cases, property taxes have outpaced a corresponding increase in home values. Last week the state's Department of Community Affairs released its annual property tax report, which offers a boatload of information about the worth of Hudson County properties. Click here to read about the highest property taxes in Hudson County in 2014. In 2004, the average residential property value in Hoboken was $165,650 with a corresponding average total property tax of $5,327, according to the report. But fast forward to 2014 and the average residential property more than tripled to $522,107, according to the report, accompanied by an average property tax tab of $7,451. In total, the net taxable valuation of Hoboken ballooned from about $2.4 billion in 2004 to a whopping $11 billion today, according to the report. The dramatic uptick in Hoboken average residential property values during the past 10 years was the highest in the county. In Jersey City, the average resident has seen home values increase about 1 percent over the past 10 years, while the average property tax bill has risen 60 percent, according to the report. In 2004, the average Jersey City property was worth $90,008, according to the report, and the average property tax bill was $4,146. But in 2014, the average Jersey City property was valued at $91,459 with an average total property tax of $6,799, according to the report. Bayonne was one of two municipalities (West New York the other) in which property values went down over the 10-year span. At the same time property taxes increased. In 2004, Bayonne's average property value was $133,203 with an accompanying average total property tax bill of $6,463, according to the report. A decade later in 2014, Bayonne's average property value dipped to $126,186 with an average property tax bill of $9,394, according to the report. Check out how other municipalities's average residential property value and tax bill fared between 2004 and 2014.
Posted on: 2015/2/9 11:37
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