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Re: New Tax Rate is Insane!
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Dolomiti wrote: NJ roads are fine.


I thought about this today as I was headed east on 78 I’m the express lanes, just before the airport. A cop was parked in the right lane, angled in a way to force everyone into the left. Just after him we’re seven (7!!) cars on the side of the road with blown out tires - the result of hitting a manhole sized hole probably ten to twelve inches deep.

Posted on: 2/11 15:37
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I believe this was already posted somewhere on this forum.

http://jerseycity.hosted.civiclive.co ... ily%20NBHD%20Analysis.pdf


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terrencemcd wrote:
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hero69 wrote:
also, does any one have some chart, figures indicating overall overall under/over valuation for different sections of the city?


The city released neighborhood estimates late last year

Posted on: 2/11 14:07
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hero69 wrote:
i wonder if landlords in the less affluent areas will be lowering rents on their tenants?

Hahahahaha


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also, does any one have some chart, figures indicating overall overall under/over valuation for different sections of the city?

You'll have to wait until all the figures are out.

Then, someone would have to map the addresses (or block numbers) to sections of the city.

The city or local media might already have that kind of database set up. If not, setting that up would be a bit... time-consuming.

Posted on: 2/11 14:03
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For my meeting about our sky high appraisal, I received an invaluable comps report. I am certain that this will help when I have my meeting next week. This report was provided for free. If anyone is interested, the email is tom.wgcrealty@gmail.com.

Posted on: 2/10 19:33
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hero69 wrote:
also, does any one have some chart, figures indicating overall overall under/over valuation for different sections of the city?


The city released neighborhood estimates late last year

Posted on: 2/9 19:48
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i wonder if landlords in the less affluent areas will be lowering rents on their tenants?

also, does any one have some chart, figures indicating overall overall under/over valuation for different sections of the city?

Posted on: 2/9 19:09
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jctexan wrote:
@Terrence: Rare for someone to own up. Kudos.


Agreed. We also need to not assume our understaffed local press has the time to know all, we need to help them understand if we can, even if we aren't ourselves activists.

Posted on: 2/9 18:04
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jctexan wrote:
@Terrence: Rare for someone to own up. Kudos. I’ll be a loyal reader from now on.

@Bodipooh and Brewster: Well said, I’ve been getting all riled up on other threads on NextDoor trying to verbalize the injustice and downright absurdity of all this. Thank you for the elegant argument.


JCTexan, I have been in the NextDoor trenches with you. There is no getting through to those that refuse to listen. This reval was overdue not just because it is truly legally overdue, but mostly because of the tax unfairness that kept poor residents subsidizing richer ones.

And, agreed about Terrence. At least he has owned up about the matter and the lack of coverage it received. I wasn't even trying to chastise him, but rather point out why the JJ being misinformed or MIA on this matter was actually understandable seeing how most people were just as lost.

Posted on: 2/9 17:55
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@Terrence: Rare for someone to own up. Kudos. I’ll be a loyal reader from now on.

@Bodipooh and Brewster: Well said, I’ve been getting all riled up on other threads on NextDoor trying to verbalize the injustice and downright absurdity of all this. Thank you for the elegant argument.

Posted on: 2/9 17:07
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Learn more about Jersey City reval at upcoming meetings

Residents who want to learn more about Jersey City's revaluation, or sound off about their proposed new assessments, can visit a handful of neighborhood meetings in upcoming weeks.

Appraisal Systems, the company conducting the long-delayed reval, has started issuing waves of new assessments for properties citywide. So far residents Downtown, in and near Society Hill and in portions of Journal Square and the Heights have received new assessments.

http://www.nj.com/hudson/index.ssf/20 ... _at_upcoming_meeting.html


Posted on: 2/9 15:58
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brewster wrote:
Terrence, While I do understand how difficult the news game is today with low budgets & staffing (FIL was a paper publisher & journalism school prof), the fact is the JJ was very late to this game.


You're right, we were and I was. I wasn't arguing that point.

Posted on: 2/9 13:04
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Terrence, While I do understand how difficult the news game is today with low budgets & staffing (FIL was a paper publisher & journalism school prof), the fact is the JJ was very late to this game. In March of 2015 we had a PM exchange where you professed complete ignorance of the fairness aspect and I sent you a long explanation.

The system failed from top to bottom. When the ratio fell below the legal line of 80% many years ago SOMEBODY should have been sounding the alarm, the State, County, Press. Somebody. There should have been a Mayoral Candidate running on a platform including tax fairness. There was not. Elected officials and community leaders of all the other wards should have been telling their residents to appeal their high taxes. They did not.

How did a race and class injustice like this go ignored for so long? Sadly, every leader who thought the issue could be avoided till they were out of office was right up until very recently.

Posted on: 2/9 12:57
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bodhipooh wrote:
So, the JJ being misinformed or ignorant is just par for the course, apparently.


Good afternoon! We haven't actually published any interviews yet with people talking about their new assessments, so we don't have any stories with people expressing outrage about them. But we have written stories for years that reference JC's unequal taxation. It's come up in our coverage of the reval breach-of-contract trial, Jersey City Together's launch in 2016 where the mayor was put on the spot over how the delay has hurt property owners outside the Downtown, when the state came in and forced the reval, etc. The impact of the reval on neighborhoods where homeowners will see decreases will be a part of our reval coverage as those property owners get their new assessments.

Posted on: 2/9 12:38
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Sully wrote:
I'm sure Terrance and his editors at the JJ will parse all that data with a keen eye, and give us the real deal in meaningful context.


Oh, you mean the way they've been all over this since it was first delayed in 98, right? Less than 3 years ago he had not the slightest clue about this issue and it's fairness aspect.


Seemingly everyone facing an increase is purposefully ignoring the fairness aspect and crying either unfair taxation (my taxes are increasing and I am now financing the rest of JC!) or poverty (woe me, I am sitting on a multimillion dollar property and you expect me to pay my fair share?) or abuse through misinformation (I didnt know about this reval, and no one told me it would be this bad, ergo why should I have to pay?)

So, the JJ being misinformed or ignorant is just par for the course, apparently.

Posted on: 2/9 11:43
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Sully wrote:
I'm sure Terrance and his editors at the JJ will parse all that data with a keen eye, and give us the real deal in meaningful context.


Oh, you mean the way they've been all over this since it was first delayed in 98, right? Less than 3 years ago he had not the slightest clue about this issue and it's fairness aspect.

Posted on: 2/8 22:52
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I just took a look at the tax history for a few of these "biggest drop" properties, and it appears that some of them might be outliers, not apples-to-apples cases to demonstrate what's actually going on with the re-val.

For example, look at the top address on the list, 367 First St. This is a property that has undergone a lot of construction the last few years, you may recognize it:
Google Maps

Here's the recent tax history:
http://taxes.cityofjerseycity.com/ViewPay?accountNumber=656655

There's a lot going on there - I'm thinking the drop from $67k taxes to $44k taxes probably not related to the re-val.

I'm sure Terrance and his editors at the JJ will parse all that data with a keen eye, and give us the real deal in meaningful context.

Posted on: 2/8 22:23
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dcourts1984 wrote:
Last house on there. Facing Van Vorst, on market for $3mm with a $41k tax bill (previously $16k). Who on earth is going to pony up for such a place??

No one, apparently. They're asking way too much for it, which is why it's sat on the market for almost 5 months.

The city appraised it at $2.5m. Only 3 properties appraised so far were at or above $3m.

Posted on: 2/8 20:00
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I wonder why they didn't post the 10 properties with the biggest tax cuts. Hmmmmm.


That's next. Right now the properties with the biggest tax cuts are actually all Downtown too.

Well, I'm not holding my breath.

For those who don't want to wait:

367 FIRST ST. -23,654.28
323 FOURTH ST. -20,354.70
249 GROVE ST. -19,424.82
401 THIRD ST. -14,106.24
399 THIRD ST. -14,106.24
240 SECOND STREET -12,279.06
351 FIFTH ST. -11,129.58
264 COLUMBUS DR. -10,400.46
86 SUSSEX ST. -9,596.04
385 FIRST ST. -9,334.98


Posted on: 2/8 19:43
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i'm hoping one of those $2 million houses fall to $1.37 million. Quote:

RichMauro wrote:
Quote:

dcourts1984 wrote:
Last house on there. Facing Van Vorst, on market for $3mm with a $41k tax bill (previously $16k). Who on earth is going to pony up for such a place?? The astronomical values of high end places like this one along with complete gut jobs on the market for $1mm downtown will have to be corrected down to realistic levels...fast.


Don't worry about that. The real estate sharks are in the water already. They sense panic and feed on it. There are some beautiful areas in JC that NYC people with real money will gobble up.


Posted on: 2/8 13:48
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dcourts1984 wrote:
Last house on there. Facing Van Vorst, on market for $3mm with a $41k tax bill (previously $16k). Who on earth is going to pony up for such a place?? The astronomical values of high end places like this one along with complete gut jobs on the market for $1mm downtown will have to be corrected down to realistic levels...fast.


Don't worry about that. The real estate sharks are in the water already. They sense panic and feed on it. There are some beautiful areas in JC that NYC people with real money will gobble up.


Posted on: 2/8 13:09
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Last house on there. Facing Van Vorst, on market for $3mm with a $41k tax bill (previously $16k). Who on earth is going to pony up for such a place?? The astronomical values of high end places like this one along with complete gut jobs on the market for $1mm downtown will have to be corrected down to realistic levels...fast.

Posted on: 2/8 9:59
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Dolomiti wrote:
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I wonder why they didn't post the 10 properties with the biggest tax cuts. Hmmmmm.


That's next. Right now the properties with the biggest tax cuts are actually all Downtown too.

Posted on: 2/7 23:24
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HeightsNative wrote:
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Adonis wrote:
I've been living in a tax abated 2 bedroom 2 bath condo in downtown for 10 years. I've been paying $10.5k per year in property taxes for those 10 years. Turns out I was paying in many instances more than twice the amount that many of my fellow neighbors who are in non-tax abated properties that are currently valued at $1m or more were paying.
It's a complete fallacy to blanketly say that tax abated properties were paying less taxes than non-tax abated properties by comparison.


A fair point, pre reval. But doesn't this mean you're still paying close to $10k post reval at a similar valuation of your neighbors while your neighbors will pay close to $30k post reval? If I have that correct, that's still messed up, just in reverse.

And to someone's earlier point, there is no sympathy for DTJC residents paying the proper tax on million dollar homes while underpaying for many years.

Remember, 1.6% is still one of the lowest rates in the entire state! All the while still making the state subsidize 2/3 of the JC school system. That's a pretty solid deal in my view.


Yes you are correct about the pre-reval vs. post-real flip in the who-is-benefiting category. My re-val is a little more than half-way over. So the way I look at it I'm was getting screwed in comparison to many of my neighbors during the first half and I'm doing the screwing in the second half. Of course when my abatement is over then I'm in the same boat as my neighbors.

In the end though I just wanted to point out that tax abated properties do pay a lot in property taxes. At least I am. It's certainly not nothing.

Posted on: 2/7 21:34
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The last property is a gem with parking. Seems high but I am not too surprised..

Posted on: 2/7 21:23
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I wonder why they didn't post the 10 properties with the biggest tax cuts. Hmmmmm.

Posted on: 2/7 18:55
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mfadam wrote:
who in their right mind sees value in paying 40k in taxes to JC?

Who in their right minds thinks it's fair for other homeowners to pay an extra $30,000 so that someone else can pay a low property tax rate?

Who in their right minds thinks that a $2.5 million home is really only worth $200k?


Quote:
I think most would rather pay more per SF and build equity than pay a bit less and throw money into the JC tax sinkhole.

I think most people would prefer not to pay any property taxes at all. That does not justify making someone else pay your property taxes for you.

Posted on: 2/7 18:53
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135jc wrote:
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brewster wrote:
Yvonne lived at 283 York St. What's amusing is that she sold at $1.18m to avoid the value drop from the the reval, less than half the current assessment of $2,477,600. That's leaving some money on the table!


Nice of you Brewster to take amusement in what you perceive as someone's mistake. I'm not surprised as you seem to post on evey topic whether you have an informed opinion or not. Its also quite possible that Yvonne invested her profit in the soaring stock market and doubled her $$


Lol, you'll have to do better than that. I posted verifiable facts, you posted speculation that a conservative senior citizen would dump her windfall of a lifetime into the Wall Street casino. It sounds like you think she's even stupider than I do! "Informed opinion" indeed.

Posted on: 2/7 17:45
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who in their right mind sees value in paying 40k in taxes to JC? I think most would rather pay more per SF and build equity than pay a bit less and throw money into the JC tax sinkhole.

Iffy services at best and iffy schools. We shall see if she gets her $3mm

Quote:

terrencemcd wrote:
Quote:

iGreg wrote:
272 Barrow St., a 2,808-square-foot rowhouse
Current assessment: $210,000

New assessment: $2,538,900

Current taxes: $16,380

New taxes: $41,130



#Ouch!




It's for sale -- go get it!


Posted on: 2/7 17:32
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Posted on: 2/7 16:34
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It is amazing how the focus is me. Here is the facts. My first budget hearing the city budget was $90 million (it took 300 years to get to that figure), very few tax abatements were listed. This was sometime in the 1970s. Last budget hearing $570 plus million. The school went up and the county budgets went up plus water is now a source of revenue. Fulop increased the budget nearly $100 million in his first term as mayor. It is not what I and other pay in taxes, it is the amount of spending and debt this city has given the taxpayers, while proclaiming the need for affordable housing. There can never be affordable housing if there is not affordable taxes.

Posted on: 2/7 16:25
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