JERSEY CITY LIST - Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values [Politics & Government]

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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dtjcview wrote:
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Cincinnatus wrote:
Hi,

First time poster who just recently was considering buying and moving to Jersey City. Just recently had a baby. Obviously have been following this thread and the tax re-evaluation is definitely making me reconsider my plan and maybe pursue buying and staying in Brooklyn instead. Shorter commute for me since my wife and I work in downtown Brooklyn and I'm not sure it makes sense to pay those higher taxes for inferior public schools...unless i'm buying in the Cornelia Bradford district, which is obviously pricier. But then i fear flooding, which may not be warranted? Will probably just hold buying for another year to see how everything shakes out.

As far as the reval goes - just budget around 2.2% of purchase price as your yearly tax bill. If there's a large difference between that 2.2% and current taxes on a property - chances are it's overvalued and may drop in price after the reval. Factor that into any offer.

And there's issues with the Downtown K-6's being oversubscribed and having to bus kids out of Downtown for school. On the other hand, if you find a place in say Journal Sq that is overtaxed, it's taxes will drop and you'd have gotten a bargain.

Posted on: 2016/6/3 19:35

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

Cincinnatus wrote:
Hi,

First time poster who just recently was considering buying and moving to Jersey City. Just recently had a baby. Obviously have been following this thread and the tax re-evaluation is definitely making me reconsider my plan and maybe pursue buying and staying in Brooklyn instead. Shorter commute for me since my wife and I work in downtown Brooklyn and I'm not sure it makes sense to pay those higher taxes for inferior public schools...unless i'm buying in the Cornelia Bradford district, which is obviously pricier. But then i fear flooding, which may not be warranted? Will probably just hold buying for another year to see how everything shakes out.

As far as the reval goes - just budget around 2.2% of purchase price as your yearly tax bill. If there's a large difference between that 2.2% and current taxes on a property - chances are it's overvalued and may drop in price after the reval. Factor that into any offer.

Posted on: 2016/6/3 19:10

T-Bird

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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bodhipooh wrote:

The last two buildings to come to market in DTJC were both selling at (and, above) $1,000 / sf. I suspect that is a new benchmark that is here to stay. The $3,800 number was based on a mortgage that is "only" 500K on a 1MM apartment.

Not sure which is the other building you are referring to, but the Oakman has some selling over $1,000/sf and some around 900/sf. In fact, the 2br units (which you use as an example) are currently listed currently around 900. So - Crystal Point, Sugar House, some of the higher end units in 77 Hudson, some of the Oakman and ? We'll see what the Oakman ends up getting once its sold out.

Average sales price psf on condos in DTJC in the second half of 2015 was $692. The $1,000 psf condo is a distinct outlier. Look - as a dtjc condo owner, I'm all for the highest price possible. The reality is that there is a small appetite for properties at that (for JC) extreme end of the market.

Posted on: 2016/6/3 18:25

Cincinnatus

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Hi,

First time poster who just recently was considering buying and moving to Jersey City. Just recently had a baby. Obviously have been following this thread and the tax re-evaluation is definitely making me reconsider my plan and maybe pursue buying and staying in Brooklyn instead. Shorter commute for me since my wife and I work in downtown Brooklyn and I'm not sure it makes sense to pay those higher taxes for inferior public schools...unless i'm buying in the Cornelia Bradford district, which is obviously pricier. But then i fear flooding, which may not be warranted? Will probably just hold buying for another year to see how everything shakes out.

Posted on: 2016/6/3 17:36

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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thor800 wrote:
Compared to NJ it's reasonable, but was just looking at 271 Hick Street in Brooklyn for sale at $6.2M with property taxes of nearly $27,000 (0.4%). In Jersey City people would be up in arms if the owners were paying $62,000 which is 1% of the value.

As already pointed out by Brewster, NYC property taxes are super low because they are "subsidized" by Wall Street and corporate taxes, as well as commercial taxes.

And, btw, the rising property taxes in NJ are a direct threat to the viability of so many of the cities and towns where people settled after escaping the high cost of NYC. If you are a homeowner, NYC is starting to look very appealing when all costs are added up, particularly if you have kids and take advantage of the many good, public schools over there.

Posted on: 2016/6/3 17:17

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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T-Bird wrote:
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bodhipooh wrote:
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brewster wrote:
And a lot of rentals around here are investments with negative cashflow.

Talk about oxymoron! I wonder how many properties in DTJC fit this description. I am guessing a bunch of them.

Given the prevailing real estate valuations, I just don't see how the math works out for owners renting their units in new construction (even in buildings with solid abatements) unless they have managed to pay down at least half the unit's value.

Take a theoretical 1,000sf, 1 MM dollar apartment in a building with average maintenance fee (70 cents per sf?) and a nice abatement of 1%, and let's assume the owner was able to put down a down payment of 500K:

Monthly Cost:
Mortgage: $2,245 (30 years, at 3.5%)
Maintenance: $700
Taxes: $833

Just to break, that unit would have to rent for $3,800. And, that's assuming the owner had 500K available to put down. With a mortgage of 800K, the monthly costs go up to a little over $5,100.

There are only a couple buildings selling at $1,000 psf and those that are rent out for a heck of a lot more than $3,800/mth. Also - the standard abatement rate is 1.6%.

The last two buildings to come to market in DTJC were both selling at (and, above) $1,000 / sf. I suspect that is a new benchmark that is here to stay. The $3,800 number was based on a mortgage that is "only" 500K on a 1MM apartment.

BTW, the abatement at The Oakman is 0.9%. Yes, it is an outlier, but a reality nonetheless. With an abatement at 1.6%, the numbers make even less sense for "investment properties" unless the person doing the investing is flush with a LOT of cash to keep that mortgage low.

Posted on: 2016/6/3 17:12

moobycow

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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thor800 wrote:
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moobycow wrote:
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thor800 wrote:

Thanks for the english lesson. By the way its privileged not privileges.

Dt will be subsidizing rest of the city soon. People whining about paying taxes too high could appeal them now

Meh, that's how society functions. People who have more pay more. Such is life. I say this as someone who is likely to see his bill double.

Frankly, the idea that there is someone Greenville are paying an extra $2k so I can save $10k disgusts me.

why would that disgust you ? Obviously no one should overpay, but you could be the one overpaying in the next few years when undervalued properties now appreciate.

you must not have to worry about $ which is great.

I do have to worry about the money, it likely makes a decent dent in my lifestyle when it comes through. But why would it disgust me? Because I'm human being with empathy and I recognize my sacrifices to pay the tax bill on a million dollar home are likely not the same sort of sacrifices many people in the poor section of the city have to make.

People winding up overpaying for a period of time is a good argument to do the re-balance much more often, it is not an argument to keep putting one off that is years overdue.

Posted on: 2016/6/3 16:27

T-Bird

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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brewster wrote:
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Compared to NJ it's reasonable, but was just looking at 271 Hick Street in Brooklyn for sale at $6.2M with property taxes of nearly $27,000 (0.4%). In Jersey City people would be up in arms if the owners were paying $62,000 which is 1% of the value.

I would argue that higher property taxes in NJ create more unfair situations for the poor especially in areas with rising values due to the need to cover mortgage and tax expenses. With lower rents as the result of lower property taxes, sales tax would not be as much of an issue.

Are you really so clueless as to not understand that NYC residential taxes are subsidized by commercial? Nowhere else in the region is that low. Its a total outlier.

Not to mention that NYC benefits tremendously from a city income tax that runs between 3.5% and almost 4% - something that is also unique to the city with regard to the region.

Posted on: 2016/6/3 16:06

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Compared to NJ it's reasonable, but was just looking at 271 Hick Street in Brooklyn for sale at $6.2M with property taxes of nearly $27,000 (0.4%). In Jersey City people would be up in arms if the owners were paying $62,000 which is 1% of the value.

I would argue that higher property taxes in NJ create more unfair situations for the poor especially in areas with rising values due to the need to cover mortgage and tax expenses. With lower rents as the result of lower property taxes, sales tax would not be as much of an issue.

Are you really so clueless as to not understand that NYC residential taxes are subsidized by commercial? Nowhere else in the region is that low. Its a total outlier.

Posted on: 2016/6/3 15:51

thor800

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

stateaidguy wrote:
Quote:

bodhipooh wrote:
Quote:

thor800 wrote:
Quote:

brewster wrote:
[quote]
thor800 wrote:
Should someone that bought a house 10 years ago for $750K now worth $1.5M with taxes at $10K have to pay an increase in $20K after the reval ? I disagree that this is worth lowering someone in Greenville's taxes $2k as a measure of "fairness" if both are using the same resources.

Value can be extremely subjective indicator and I personally (taxes set to double after the reval depending on assessment) feel that dtjc will be subsidizing other areas JC way more than they are subsidizing us now.

The "resource use" argument is a nonstarter, as already pointed out. Do you really not have any idea how privileged and whiney you sound? You want your high value but don't want to be taxed on it.

Since you apparently value low taxes more than high equity and are probably under 62, you're the perfect customer for the city run lien bonding I propose that would be like reverse mortgage in it's effect.

Privileged and whiney because my taxes are set to skyrocket based on a superficial measure of value ? I guess it doesn't matter because I could just sell and leave ? What about longtime owners that have no desire to leave ? High value appreciation in a short time is great for flippers and investors but can screw regular owners.

Obviously this is a mute point because that's how NJ does things, but again if you had actually read my posts and not just jumped to a brainless conclusion, I was responding in context to the CivicJC article which stated that the reval should occur because it would bring fairness to JC's property taxes and people in areas that have not appreciated are paying slightly too much will see a slight reduction while dtjc's will see a skewed opposite.

I am not opposed to paying my fair share, but what is fair aside from what the state says is law ? Again, most likely mute point if the city has little say in the matter but I still disagree regarding CivicJC's point that the reval should be done based on tax fairness.

Also, Jersey City's prop taxes aren't high. In fact, they are slightly below average for our state.

NJ's average property tax rate is 2.333. Jersey City's is 2.216.

There are hundreds of thousands of New Jerseyans who are paying higher rates and getting inferior services. There are hundreds of thousands of people who are paying higher taxes every year while the value of their home is in decline. (NJ has many towns who are still losing Equalized Valuation despite the recovery)

The plight of people who live in properties that have appreciated tremendously should be a low priority for municipal and state sympathy.

http://www.state.nj.us/dca/divisions/ ... urces/property_tax.html#1

Compared to NJ it's reasonable, but was just looking at 271 Hick Street in Brooklyn for sale at $6.2M with property taxes of nearly $27,000 (0.4%). In Jersey City people would be up in arms if the owners were paying $62,000 which is 1% of the value.

I would argue that higher property taxes in NJ create more unfair situations for the poor especially in areas with rising values due to the need to cover mortgage and tax expenses. With lower rents as the result of lower property taxes, sales tax would not be as much of an issue.

Posted on: 2016/6/3 14:23

stateaidguy

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

bodhipooh wrote:
Quote:

thor800 wrote:
Quote:

brewster wrote:
[quote]
thor800 wrote:
Should someone that bought a house 10 years ago for $750K now worth $1.5M with taxes at $10K have to pay an increase in $20K after the reval ? I disagree that this is worth lowering someone in Greenville's taxes $2k as a measure of "fairness" if both are using the same resources.

Value can be extremely subjective indicator and I personally (taxes set to double after the reval depending on assessment) feel that dtjc will be subsidizing other areas JC way more than they are subsidizing us now.

The "resource use" argument is a nonstarter, as already pointed out. Do you really not have any idea how privileged and whiney you sound? You want your high value but don't want to be taxed on it.

Since you apparently value low taxes more than high equity and are probably under 62, you're the perfect customer for the city run lien bonding I propose that would be like reverse mortgage in it's effect.

Privileged and whiney because my taxes are set to skyrocket based on a superficial measure of value ? I guess it doesn't matter because I could just sell and leave ? What about longtime owners that have no desire to leave ? High value appreciation in a short time is great for flippers and investors but can screw regular owners.

Obviously this is a mute point because that's how NJ does things, but again if you had actually read my posts and not just jumped to a brainless conclusion, I was responding in context to the CivicJC article which stated that the reval should occur because it would bring fairness to JC's property taxes and people in areas that have not appreciated are paying slightly too much will see a slight reduction while dtjc's will see a skewed opposite.

I am not opposed to paying my fair share, but what is fair aside from what the state says is law ? Again, most likely mute point if the city has little say in the matter but I still disagree regarding CivicJC's point that the reval should be done based on tax fairness.

Also, Jersey City's prop taxes aren't high. In fact, they are slightly below average for our state.

NJ's average property tax rate is 2.333. Jersey City's is 2.216.

There are hundreds of thousands of New Jerseyans who are paying higher rates and getting inferior services. There are hundreds of thousands of people who are paying higher taxes every year while the value of their home is in decline. (NJ has many towns who are still losing Equalized Valuation despite the recovery)

The plight of people who live in properties that have appreciated tremendously should be a low priority for municipal and state sympathy.

http://www.state.nj.us/dca/divisions/ ... urces/property_tax.html#1

Posted on: 2016/6/3 13:55

T-Bird

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

bodhipooh wrote:
Quote:

brewster wrote:
And a lot of rentals around here are investments with negative cashflow.

Talk about oxymoron! I wonder how many properties in DTJC fit this description. I am guessing a bunch of them.

Given the prevailing real estate valuations, I just don't see how the math works out for owners renting their units in new construction (even in buildings with solid abatements) unless they have managed to pay down at least half the unit's value.

Take a theoretical 1,000sf, 1 MM dollar apartment in a building with average maintenance fee (70 cents per sf?) and a nice abatement of 1%, and let's assume the owner was able to put down a down payment of 500K:

Monthly Cost:
Mortgage: $2,245 (30 years, at 3.5%)
Maintenance: $700
Taxes: $833

Just to break, that unit would have to rent for $3,800. And, that's assuming the owner had 500K available to put down. With a mortgage of 800K, the monthly costs go up to a little over $5,100.

There are only a couple buildings selling at $1,000 psf and those that are rent out for a heck of a lot more than $3,800/mth. Also - the standard abatement rate is 1.6%.

Posted on: 2016/6/3 13:31

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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brewster wrote:
And a lot of rentals around here are investments with negative cashflow.

Talk about oxymoron! I wonder how many properties in DTJC fit this description. I am guessing a bunch of them.

Given the prevailing real estate valuations, I just don't see how the math works out for owners renting their units in new construction (even in buildings with solid abatements) unless they have managed to pay down at least half the unit's value.

Take a theoretical 1,000sf, 1 MM dollar apartment in a building with average maintenance fee (70 cents per sf?) and a nice abatement of 1%, and let's assume the owner was able to put down a down payment of 500K:

Monthly Cost:
Mortgage: $2,245 (30 years, at 3.5%)
Maintenance: $700
Taxes: $833

Just to break, that unit would have to rent for $3,800. And, that's assuming the owner had 500K available to put down. With a mortgage of 800K, the monthly costs go up to a little over $5,100.

Posted on: 2016/6/3 4:06

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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dtjcview wrote:
Property taxes are among the most progressive - they impact the wealthy the most.

Actually, I'm not at all certain you're right. The rate is the same whether your home is $100k or $100m. Real progressive taxation is like the income tax, higher rate for higher values. Sales tax is regressive only because the poor spend a higher percentage of their income. I've read why a VAT is better than a sales tax, but it's pretty dense.

Additionally, the poor pay property tax through their rents, so if a homeowner and a renter both pay 1/3 of their income for shelter, a similar chunk of that is RE tax, depending on profit of the owner. And a lot of rentals around here are investments with negative cashflow.

Posted on: 2016/6/3 2:15

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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@Thor800. The heart of your argument is over progressive versus regressive taxes (go google it). Property taxes are among the most progressive - they impact the wealthy the most. By comparison, sales taxes are regressive - they impact the poor the most.

Do you support everyone paying equally based on use? Or do you support the wealthier paying more? . Are you happy that some massive corporations pay zero tax - when the average middle-income family pays close to 50%?

Taxes are inevitable. The massively wealthy are quite happy to have you make their case.

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes. Benjamin Franklin.

Posted on: 2016/6/3 1:20

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

thor800 wrote:
Quote:

brewster wrote:
Quote:

thor800 wrote:
Should someone that bought a house 10 years ago for $750K now worth $1.5M with taxes at $10K have to pay an increase in $20K after the reval ? I disagree that this is worth lowering someone in Greenville's taxes $2k as a measure of "fairness" if both are using the same resources.

Value can be extremely subjective indicator and I personally (taxes set to double after the reval depending on assessment) feel that dtjc will be subsidizing other areas JC way more than they are subsidizing us now.

The "resource use" argument is a nonstarter, as already pointed out. Do you really not have any idea how privileged and whiney you sound? You want your high value but don't want to be taxed on it.

Since you apparently value low taxes more than high equity and are probably under 62, you're the perfect customer for the city run lien bonding I propose that would be like reverse mortgage in it's effect.

Privileged and whiney because my taxes are set to skyrocket based on a superficial measure of value ? I guess it doesn't matter because I could just sell and leave ? What about longtime owners that have no desire to leave ? High value appreciation in a short time is great for flippers and investors but can screw regular owners.

Obviously this is a mute point because that's how NJ does things, but again if you had actually read my posts and not just jumped to a brainless conclusion, I was responding in context to the CivicJC article which stated that the reval should occur because it would bring fairness to JC's property taxes and people in areas that have not appreciated are paying slightly too much will see a slight reduction while dtjc's will see a skewed opposite.

I am not opposed to paying my fair share, but what is fair aside from what the state says is law ? Again, most likely mute point if the city has little say in the matter but I still disagree regarding CivicJC's point that the reval should be done based on tax fairness.

You keep ignoring the facts pointed out to you, which is why everyone on this thread thinks you come across as privileged and whiny.

Let's take your example: If you are paying 10K in taxes, and will soon have to pay 30K, that doesn't mean someone in Greenville will see their taxes reduced 2K. It means 10 families will see their taxes reduced by 2K. The reval is REVENUE NEUTRAL. However much the tax levy increases in some part, it will decrease in other parts.

As has already been pointed out to you, long time home owners have various recourses.

And, this is NOT how "NJ does things"! This is how property taxes are assessed across the land, everywhere in the USA. And, this is VERY MUCH about tax fairness: everyone should be paying the same tax rate. Right now, you have lots of family paying effective rates of 4, 5 or 6 percent, while much of downtown is reaping the benefits paying effective rates of 1%. If you can't see how that is unfair, then you are being purposefully obtuse.

Posted on: 2016/6/3 0:33

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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brewster wrote:
...
But the inaccuracy of citywide equalization rates are the heart of the current inequality.

As a city-wide average, I'd bet they reflect the aggregate increase in property values city-wide. They're likely based on real sales data.

What would make the back-tax acceptable would be an equivalent 3-year rebate on over-assessments.

Posted on: 2016/6/3 0:18

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

dtjcview wrote:
Quote:

brewster wrote:
Quote:

dtjcview wrote:
Quote:

brewster wrote:
...
I have yet to hear a good argument against the assessment being reset at sale. At least that would reduce the proportion of properties out of wack.

Why shouldn't under-assessments act the same way as under-declarations on other tax returns? The seller is liable for x years back taxes on transfer. One big advantage is that it removes any local incentive to delay a reval.

And you think the howling is loud now....

In reality it wouldn't even work since you have no idea what the value was at any given point on the timeline. You'd have a generate an appraisal for each and every year from contemporary comps.

Easy enough to extrapolate back to last reval/transfer using equalization rates. Given we're headed toward a reval every 5 years - 3 years back taxes wouldn't be unreasonable.

But the inaccuracy of citywide equalization rates are the heart of the current inequality.

Posted on: 2016/6/3 0:11

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

brewster wrote:
Quote:

dtjcview wrote:
Quote:

brewster wrote:
...
I have yet to hear a good argument against the assessment being reset at sale. At least that would reduce the proportion of properties out of wack.

Why shouldn't under-assessments act the same way as under-declarations on other tax returns? The seller is liable for x years back taxes on transfer. One big advantage is that it removes any local incentive to delay a reval.

And you think the howling is loud now....

In reality it wouldn't even work since you have no idea what the value was at any given point on the timeline. You'd have a generate an appraisal for each and every year from contemporary comps.

Easy enough to extrapolate back to last reval/transfer using equalization rates. Given we're headed toward a reval every 5 years - 3 years back taxes wouldn't be unreasonable.

Posted on: 2016/6/3 0:08

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

dtjcview wrote:
Quote:

brewster wrote:
...
I have yet to hear a good argument against the assessment being reset at sale. At least that would reduce the proportion of properties out of wack.

Why shouldn't under-assessments act the same way as under-declarations on other tax returns? The seller is liable for x years back taxes on transfer. One big advantage is that it removes any local incentive to delay a reval.

And you think the howling is loud now....

In reality it wouldn't even work since you have no idea what the value was at any given point on the timeline. You'd have a generate an appraisal for each and every year from contemporary comps.

Posted on: 2016/6/2 23:37

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

brewster wrote:
...
I have yet to hear a good argument against the assessment being reset at sale. At least that would reduce the proportion of properties out of wack.

Why shouldn't under-assessments act the same way as under-declarations on other tax returns? The seller is liable for x years back taxes on transfer. One big advantage is that it removes any local incentive to delay a reval.

Posted on: 2016/6/2 23:24

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

#48

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papadage wrote:
It it increases the disparity in houses that are right next to each other. It can act as a guide, but does nothing to adjust for houses not on the market.

It should be an adjunct for assessments, not a substitute.

Surely you mean as an adjunct for a reval, which of course it should be, not a replacement. But it would keep more of the tax base near true value, and get rid of reval sticker shock for buyers, they would know their tax based on their purchase price. And the disparity could hardly be worse than between new construction and old side by side today.

Posted on: 2016/6/2 21:45

papadage

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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It it increases the disparity in houses that are right next to each other. It can act as a guide, but does nothing to adjust for houses not on the market.

It should be an adjunct for assessments, not a substitute.

And plenty of towns do assessments on a timely basis. Not doing it is low level corruption.

Posted on: 2016/6/2 21:37

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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thor800 wrote:
Quote:

papadage wrote:
That's why the reassessments should be frequent once they are done at all.

i dont disagree with this at all. unfortunately the massive effort for a reval firm to evaluate every property in the city in person makes this extremely difficult.

I have yet to hear a good argument against the assessment being reset at sale. At least that would reduce the proportion of properties out of wack.

Posted on: 2016/6/2 21:17

thor800

Re: Civic JC and Civic Parent Partner on Interactive Map to Compare Property Sales to Assessed Values

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Quote:

papadage wrote:
That's why the reassessments should be frequent once they are done at all.

i dont disagree with this at all. unfortunately the massive effort for a reval firm to evaluate every property in the city in person makes this extremely difficult.

Posted on: 2016/6/2 21:12