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Re: New Tax Rate is Insane!
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it seems like annual reassesments would be fair given the expected strenth in other parts of jc.

Posted on: 2/14 15:53
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Re: New Tax Rate is Insane!
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That property will sit forever. The problem is going to be if they sell for 3 million those taxes will be at 50K immediately.

Posted on: 2/14 15:23
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hero69 wrote:
just curious, when is the next reval ? or is it down annually using some type of algorithim.


The city has been working on 30-year delays between revals, so who knows? The mayor said today they are looking to do a reassessment next year -- I think they legally have to wait for 12 months at least because they need a year's worth of sales to use as comps.

The state generally requires revals when the ratio of true to assessed value dips below 85% -- that was in about 2001 and the state did not act until 2016.

Posted on: 2/14 14:49
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Re: New Tax Rate is Insane!
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just curious, when is the next reval ? or is it down annually using some type of algorithim because house prices in other parts of jc, namely the heights, are definitely going up a lot.

Posted on: 2/14 14:34
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Re: New Tax Rate is Insane!
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user1111 wrote:
Greenville and Bergen-Lafayette, Fulop said last night, have been "subsidizing Downtown or another part of the city for 30 years."

Enough said, and enough is enough!!!!


Hmm, maybe so but parts of Bergen Lafayette are being hit fairly hard as well. I have a small rental in a questionable part of BL and my proposed increase is from $5k to more than $10k.

Posted on: 2/14 14:26
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Most seniors in general have more money than most of us especially those living multi million dollar homes. I am against tax freezes and all the other nonsense.

Posted on: 2/14 14:20
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dmark526 wrote:
The selling has already begun. 272 Barrow was put on the market in December for 3.3 million, the taxes went from 16K to 41K per year. They just lowered their asking to 3 million. I'm sure many more will follow.


They could be moving for any number of reasons. Big drops at the high end of the market - if you've mispriced - aren't that uncommon and while $300k is a big drop in $ terms, it's less than 10%. Of course the reval will hurt, but hard to tell if the reval is the big driver or aggressive pricing based on only one data point...

A couple of observations: they were assessed at $2,538,000 - well below even their reduced asking price.

They bought in 2004 for $425k. If they get $3mm, that's 7x what they paid for it.... Good for them - I hope they get it. But it's hard to feel too sorry for them.

Posted on: 2/14 14:19
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The selling has already begun. 272 Barrow was put on the market in December for 3.3 million, the taxes went from 16K to 41K per year. They just lowered their asking to 3 million. I'm sure many more will follow.

Posted on: 2/14 14:06
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i am all in favor of not creating hardships for seniors, but if someone is living in a $2.5 million house, then why can't they sell? alternatively, instead of giving seniors a handout in the form of a tax freeze, the city should offer them loans against the future sale/transfer on death. this seems more reasonable imo

Posted on: 2/14 13:43
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Re: New Tax Rate is Insane!
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Taxes are services, rent control properties will appeal in tax court as they did in 1988 because tenants cannot go up as the one to four properties can go up. So, we the public will issue refund bonds to those property owners. As I mention before, just look at the friendly budget, it lists what tax abated properties would pay if they did not get their abatements. The one to four family homeowners are subsidizing them. Here is the irony, some on that would pay less taxes if they gave up their tax abatement, they choose not to go that route, protecting themselves from tax hike in a revaluation year.

Posted on: 2/14 11:25
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The timing of this is brutal. You get a $40k tax bill and are not able to write it off federal taxes. Double ouch.

Posted on: 2/14 8:40
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Greenville and Bergen-Lafayette, Fulop said last night, have been "subsidizing Downtown or another part of the city for 30 years."

Enough said, and enough is enough!!!!

Posted on: 2/14 7:56
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Re: New Tax Rate is Insane!
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brewster wrote:
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Dolomiti wrote:
Hopefully, the people who are getting tax relief will want to share their perspective.


But most of them haven't gotten their letter! Bad choice from a PR standpoint, but that's just consistent with this whole debacle.

It's amazing that after all this time Yvonne either still doesn't understand what a reval is or cynically chooses to ignore it in favor of her disinformation campaign. People want to blame Fulop, but he's been in office 4 years and she's been spreading these lies to anyone who will listen for 30. She's at least one reason every mayor shied away from this.


You can't deny Fulops 4 years of purposeful delay added significant strain to the downtown residents. That's directly his fault. He purposely delayed it long enough to get reelected,and that cost JC tax payers millions in legal fees, and downtown residents 4 years of explosive growth added to their assessment.

Posted on: 2/14 7:16
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Re: New Tax Rate is Insane!
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Dolomiti wrote:
Hopefully, the people who are getting tax relief will want to share their perspective.


But most of them haven't gotten their letter! Bad choice from a PR standpoint, but that's just consistent with this whole debacle.

It's amazing that after all this time Yvonne either still doesn't understand what a reval is or cynically chooses to ignore it in favor of her disinformation campaign. People want to blame Fulop, but he's been in office 4 years and she's been spreading these lies to anyone who will listen for 30. She's at least one reason every mayor shied away from this.

Posted on: 2/13 23:01
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brewster wrote:
Kudos to Terrence for getting the whole story, unlike some of the broadcast media starting to cover this by just hearing the sob stories.

Indeed. The linked story is still heavy on the losers, but it is good to see a bit of balance.

Hopefully, the people who are getting tax relief will want to share their perspective.

Posted on: 2/13 22:19
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Yvonne wrote:
Free Ride, Dolomiti happened when the Fulop Administration gave Salem Lafayette another 30 years on their tax abatement....

Spare us your anti-abatement jeremiad. It's irrelevant.

The problem is that JC went THIRTY YEARS without revaluing properties, while property values changed dramatically. THAT is why people paid more than their fair share for decades, while others reaped an unfair benefit. If there wasn't a single abated property in JC, we'd be in this exact same place right now.

Your callous attitude towards the Jersey City residents who overpaid their taxes; your exacerbation of this problem; trying to shift to blame to suit your own agenda... That's unacceptable and inexcusable.

Your buddies got a sweet deal for decades. Fun time is over. They don't deserve a single iota of sympathy for the new tax rate. At this point, they should be glad they don't have to pay back taxes after decades of underpayment.

Posted on: 2/13 22:17
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So attorney Mark Steier is going to sue the city, that will clearly help keep taxes down for everyone.

Pay what you owe and stop complaining, vile lawyer.

Robin.

Posted on: 2/13 22:16
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Re: New Tax Rate is Insane!
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Kudos to Terrence for getting the whole story, unlike some of the broadcast media starting to cover this by just hearing the sob stories.

What I can't figure is why they're releasing DT before other areas, it hurts their credibility. So far only 1/4 of the properties have seen cuts according to the spreadsheet. Perhaps they're just trying to get a jump on the appeals.

Posted on: 2/13 21:20
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Posted on: 2/13 20:47
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Free Ride, Dolomiti happened when the Fulop Administration gave Salem Lafayette another 30 years on their tax abatement bringing their total tax abatement to 66 years, a similar deal was given to properties own by a church on Bergen Avenue involving 4 different buildings. Taxes are services, so it is OK for long term homeowners to be thrown in the streets but we must protect the voter base aka the Democratic base for affordable housing voters.

Posted on: 2/13 18:48
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Yvonne wrote:
My former neighbor was not able to rent out her basement since Irene and Sandy. She received only $1,000 from Fema while her basement took a hit of $20,000 to $30,000. Now she has a $35,000 tax bill. I am sure she is not unique with the loss of potential income from basement.

Another sob story, about someone who got a free ride on their taxes for a decade. Pass.

Why don't you find some of the people who are getting lower taxes because of the reval? The owner of 367 First Street will pay about $23,000 less in property taxes. I guess that just doesn't count, huh? They should just keep going on paying tens of thousands of dollars every year, so that one of your buddies gets a tax break? Great system you have there.

Posted on: 2/13 18:35
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My former neighbor was not able to rent out her basement since Irene and Sandy. She received only $1,000 from Fema while her basement took a hit of $20,000 to $30,000. Now she has a $35,000 tax bill. I am sure she is not unique with the loss of potential income from basement.

Posted on: 2/13 17:58
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Just seeing this on NextDoor. Senior Freeze Program. I wouldn't qualify, but it could help some seniors who have all this equity, but refuse to tap into it.

Posted on: 2/13 15:07
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[quote]
srs7191 wrote:
If they haven't assessed the entire city yet, how are they figuring these numbers? Are the new rates estimates until the entire city is complete?

I'm guessing after a certain initial (hopefully high) percentage were visited in person they were able to extrapolate some numbers just based on recent sales and comps. Unless square footage and the number of bed/bath are wildly off, they probably had enough data to do some preliminary number crunching.

Posted on: 2/13 14:31
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Re: New Tax Rate is Insane!
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If they haven't assessed the entire city yet, how are they figuring these numbers? Are the new rates estimates until the entire city is complete?

Are they assuming the value of the yet-to-be assessed?

Posted on: 2/13 13:37
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neverleft wrote:
Fox5 NY did a piece yesterday Feb 12th on the JC tax reval:

Property taxes skyrocket for some Jersey City residents

...and still basically no discussion of the people who got a tax cut.

The 74 year old woman whose taxes are going up to $20k a year is probably living in a home worth $1.2 million.

The other woman who is looking at a $41k tax bill is probably sitting on a $2.5 million home.

Both of these people have spent years (if not decades) underpaying their taxes, while their property values should have gone through the roof.

Both of these people have a ton of equity in their homes, which they can draw on. E.g. if Ms Rennar bought her home for $500,000 and it's now worth $2.5m, the equity she's gained could pay that $41k for at least 40 years.

Both of these people should have seen gradual increases in their taxes over the years, and got socked all at once because politician after politician refused to adjust property taxes on a timely basis.

While I fully support the city providing services to help property owners deal with the increased payments (especially for elderly residents), they have had YEARS of underpaying their taxes, while other JC residents have overpaid to cover for them. They will get no sympathy from me.

Posted on: 2/13 13:15
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Re: New Tax Rate is Insane!
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biggoron wrote:
Looks like an excel file was posted by the assessment company:
http://www.asinj.com/revaluation/docs ... oposed%20Assessments.xlsx

It has over 13,000 properties listed so far... Any idea what the total number should be around once it is all said and done?

My understanding is there are more than 114,000 housing units in JC. I have no idea of the number of commercial units.

Posted on: 2/13 13:05
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HeightsNative wrote:
Sure is taking them a while to post Ogden Ave LOL. Unless I missed it.


Lots of Heights blocks still missing from the spreadsheet.

Posted on: 2/13 12:40
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Azul_the_Cat wrote:
Quote:

HeightsNative wrote:
Quote:

biggoron wrote:
Looks like an excel file was posted by the assessment company:
http://www.asinj.com/revaluation/docs ... oposed%20Assessments.xlsx

It has over 13,000 properties listed so far... Any idea what the total number should be around once it is all said and done?


Sure is taking them a while to post Ogden Ave LOL. Unless I missed it.


This looks like the same spread sheet that was posted earlier.


No, Biggoron converted the PDF to xls, and the PDF had fewer listings.

I love the xls, great for analyzing the data, but I reckon most homeowners, at least the ones that post on these forums, don't know how to use a spreadsheet. Too bad the appraisal company doesn't offer PDF and xls formats.

Posted on: 2/13 12:16
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user1111 wrote:
By: ARTHUR CHI'EN
POSTED: FEB 12 2018 09:53PM EST

VIDEO POSTED: FEB 12 2018 10:42PM EST

UPDATED: FEB 13 2018 08:10AM EST

NEW JERSEY (FOX5NY.COM) - Municipal officials in Jersey City, New Jersey, haven't taken a look at property values in 30 years. It means some have been paying more in taxes than they should and others have been paying less. And trying to fix the problem has created another mess.

Dolores Renner, a resident of 74 years, is so afraid for her future that she was speechless. She learned that her taxes



are doubling to more than $20,000 a year. She said she can't pay that much and now worries

watch video here


They got the spelling of the last name wrong, correct spelling is Rennar.

Her property is -
-3 family
-Acreage .0574 - 25' x 100' which is large.

I have no idea what her financial situation is, but she owns a 3 family house downtown...



Posted on: 2/13 12:08
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