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Re: Assessed Value of homes help?
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Home away from home
 
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I had the opportunity to tour one of the brownstones the Australians remodeled last year. I have to say that it looked pretty incredible. Literally a complete gut remodel. Not a speck of paint was the same as when I'd been in the building before.
Which is why I can't understand why the taxes on the brownstone are the exact same as before?!?! On the one hand, I think they have helped improve the value of homes on the block. On the other hand, they are getting away with murder (ok, tax evasion, but you know what I mean).
Posted on: 2015/3/4 5:04
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Re: Assessed Value of homes help?
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Newbie
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Just an update hired Joseph Ragno of Waters McPherson McNeill, PC. Not sure it made all the difference but the entire assessment was removed from my house via judgement.
Posted on: 2015/1/16 15:35
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Re: Assessed Value of homes help?
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Home away from home
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One of the biggest cons when it comes to assessed value - is a very high percentage of homes don't have sq footage listed on their deeds. (Never understood quite why).
If during the course of renovation you have sq footage added to your property deed, and you get reassessed - you may be in for a huge increase in tax - because they'll use price/sq ft from comparable sales to re-assess your property. Nothing unfair about that - you simply have been under-assessed for years as others have posted. You can always appeal your assessment. I used easytaxfix.com to appeal successfully a few years ago (website may be down until appeal season - Feb-April of next year).
Posted on: 2014/10/6 21:04
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Home away from home
Joined:
2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Quote:
Exactly! I live near two homes with massive renovations and huge backyard decks paying about 4k a year. If no one knows then you are good. I want to raise my roof LOL but I think a missing roof for a few weeks might bring unwanted attention.
Posted on: 2014/10/6 18:53
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Re: Assessed Value of homes help?
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Home away from home
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My neighbors across the hall bought their apt 3 years ago and gutted the place and completely renovated. He did all the work so I doubt they took out permits. We pay the same exact taxes.
Posted on: 2014/10/6 18:40
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Re: Assessed Value of homes help?
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Home away from home
Joined:
2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Quote:
If the original owner did not take out any permits who will ever know?
Posted on: 2014/10/6 18:32
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Re: Assessed Value of homes help?
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Home away from home
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please excuse my ignorance, but this makes me wonder, if I buy a house that has been gut renovated in the past year, does this mean that the taxes I'll pay next year will be significantly higher than whatever they were before the gut reno? That should absolutely be the expectation. But, like in the OP's experience, reality is that it can take years to catch up.
Posted on: 2014/10/6 18:29
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Re: Assessed Value of homes help?
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Just can't stay away
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2013/4/7 4:27 Last Login : 2017/6/15 6:51 From Bergen Lafayette
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please excuse my ignorance, but this makes me wonder, if I buy a house that has been gut renovated in the past year, does this mean that the taxes I'll pay next year will be significantly higher than whatever they were before the gut reno?
thanks!
Posted on: 2014/10/6 18:18
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Home away from home
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By the way, the County Tax Assessor has the legal authority to implement the reval. I am surprised Hoboken has not sued JC over this since they pay more to the County than to their municipal government. Hoboken had the reval last year.
Posted on: 2014/10/6 17:53
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Home away from home
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Yvonne wrote: Why should anyone live with this while Fulop is giving out long term tax abatement to newer developments? Even with affordable housing, Salem Lafayette got an additional 30 years bringing the total to 66 years because the developer changed kitchens, windows, and did upgrades. One group of citizens is punished for upgrades but another group gets a longer tax abatement. This is nothing but tax discrimination.
Posted on: 2014/10/6 17:22
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Home away from home
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Why should anyone live with this while Fulop is giving out long term tax abatement to newer developments? Even with affordable housing, Salem Lafayette got an additional 30 years bringing the total to 66 years because the developer changed kitchens, windows, and did upgrades. One group of citizens is punished for upgrades but another group gets a longer tax abatement. This is nothing but tax discrimination.
Posted on: 2014/10/6 17:17
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Newbie
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The Australians are doing a lot of the gutting without permits and putting up massive sheets so assessors can't look in. i live 2 doors down from one of them in hamilton park. looks like i'm just on the border unfortunately based on the video provided hopefully this does not kill the sale of the house or ideally all houses assessed correctly. so taxes would be equal.
Posted on: 2014/10/6 15:59
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Home away from home
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It sounds like you're going to have to live with it. If filing a permit "opens the door" for a spot assessment, they used it as an opportunity to properly assess your place. As you pointed out, it's not like an appeal will get you anywhere, since you can't argue "but I want to keep paying ridiculously under-assessed taxes!". Perhaps you are right it will hurt your resale, at least until a reval levels the playing field with your underassessed neighbors. This city needs a reval to make it's taxes fair. Fulop has made a huge mistake sucking up to the Downtown interests. I wouldn't be surprised to see this blow up in his face for his gubernatorial campaign. All it will take is a journalist who's not afraid of looking at numbers to see some of JC's wealthiest paying 1/3 the tax rate of it's working class.
Posted on: 2014/10/6 15:57
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Home away from home
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I have always appealed my own taxes but I did video tape these guys who held a tax appeal workshop. Their contact is at the end.
http://youtu.be/4dAxSKDj7yo?list=UUPZCDR4rCUMJtCl7__MaEag
Posted on: 2014/10/6 15:18
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Home away from home
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Sounds like the former owner didn't do the kitchen legally (i.e., with permit), and it's finally catching up. In other words, your taxes should have been higher for the past 5-years as a result of the remodeling (not to mention as a result of the reval). But $140K improvement based solely on a kitchen seems excessive and might be worth researching how to appeal.
Along these lines....does anyone know if the Australians are getting hit with increased assessments after their gut remodels? They've done some impressive upgrades on a number of homes. How long does it take for the upgrades to be incorporated into their assessments? Seeing some of these places they've upgraded still paying a fraction of the taxes they should is frustrating.
Posted on: 2014/10/6 15:14
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Newbie
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This is exactly what I am going through now, only the permits were to repair Sandy flooding. No improvements were made, just rebuilt the basement level. Now, two years later they are increasing our taxes from $7k/yr prior to Sandy to over $20k/yr.
Can anyone recommend an attorney who has dealt with this?
Posted on: 2014/10/6 15:05
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Home away from home
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My understanding is that things like new roofs, upgraded kitchens, improved heating systems are not taken into account when an assessment is done. They are considered necessary and or normal improvements due to obsolesence. Am I correct?
Posted on: 2014/10/6 15:04
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Newbie
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they have been increased from 8000 to 18000 and i owe 20k Nov 1. There were improvements in the kitchen made 5 or 6 years ago, they said they had not noticed them before. This is because i had my shades up i was told.
Posted on: 2014/10/6 15:02
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Just can't stay away
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Your taxes were increased to $10,000 per year, right? They weren't increased by $10,000 per year to $18,000?
A new roof or repair/maintenance shouldn't increase taxes.
Posted on: 2014/10/6 14:53
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Home away from home
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This is a spot assessment. Someone I know had a similar problem but went to tax court appealed their taxes and won. Fulop is playing a game of cancelling the reval, giving out abatements, but knocking small homeowners over the head with higher taxes as spot assessments.
Posted on: 2014/10/6 14:52
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Newbie
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That was the quote from assessor when i called this morning. They walked by saw i had a permit for roof repair, and noticed improvement to the basement the kitchen had been upgraded and quoted at 140k .
Posted on: 2014/10/6 14:51
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Home away from home
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Quote:
Something sounds wrong in math and story. What do you mean "noticed"? Had there been a permit that they neglected to add to your assessment or did they eyeball your kitchen and and say, "that looks like a $130k kitchen"? I know it's theoretically possible to spend that much, but it seems unlikely. If it's all correct, then you're no more screwed than all the other people in JC paying far more than the ridiculously under- assessed Downtown properties. You're only paying twice as much, there are people paying over 3 times as much as the underpayers.
Posted on: 2014/10/6 14:45
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Newbie
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We bought our house 2 years ago and the taxes were around 8k and now the roof needed to be repaired so we repaired the roof. This led to us getting a permit. We were just now hit with 140k in improvements because they noticed the kitchen was done about 5 years ago at this point prior to purchase. so our taxes have increased 10k per year.
Our assessed value is still lower than 31% of our actual home value (its how they calculate assessed) were we just screwed because we did it proper and got a permit? Our assessed value is twice as much as every home on the street. Our biggest fear is we cannot sell the place now. Thoughts? opinions?
Posted on: 2014/10/6 14:30
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