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Re: New Tax Rate is Insane!
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Home away from home
 
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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: 2018/2/14 19:06
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 18:43
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 16:25
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Re: New Tax Rate is Insane!
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Home away from home
Joined:
2011/11/28 22:22 Last Login : 9/8 19:51 From Jersey City yo!
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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: 2018/2/14 13:40
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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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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: 2018/2/14 12:56
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 12:16
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 4:01
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 3:19
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 3:17
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Re: New Tax Rate is Insane!
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Home away from home
Joined:
2006/5/10 16:36 Last Login : 2023/7/18 1:45 From Hamilton Park
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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: 2018/2/14 3:16
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/14 2:20
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Re: New Tax Rate is Insane!
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Home away from home
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Posted on: 2018/2/14 1:47
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/13 23:48
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/13 23:35
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/13 22:58
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Home away from home
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2009/3/19 15:20 Last Login : 2020/6/2 11:06 From Scenic McGinley Square
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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: 2018/2/13 20:07
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/13 19:31
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Not too shy to talk
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2017/10/28 19:03 Last Login : 2019/10/13 22:07 From Paulus Hook
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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: 2018/2/13 18:37
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Re: New Tax Rate is Insane!
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Home away from home
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...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: 2018/2/13 18:15
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Re: New Tax Rate is Insane!
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Home away from home
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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: 2018/2/13 18:05
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Re: New Tax Rate is Insane!
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Home away from home
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Lots of Heights blocks still missing from the spreadsheet.
Posted on: 2018/2/13 17:40
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Home away from home
Joined:
2012/9/18 3:58 Last Login : 2021/9/23 15:07 From Between Thought and Expression
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Quote:
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: 2018/2/13 17:16
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Re: New Tax Rate is Insane!
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Home away from home
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2012/9/18 3:58 Last Login : 2021/9/23 15:07 From Between Thought and Expression
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Quote:
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: 2018/2/13 17:08
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Re: New Tax Rate is Insane!
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Home away from home
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2009/3/19 15:20 Last Login : 2020/6/2 11:06 From Scenic McGinley Square
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Quote:
This looks like the same spread sheet that was posted earlier.
Posted on: 2018/2/13 16:29
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Re: New Tax Rate is Insane!
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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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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
Posted on: 2018/2/13 16:18
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Re: New Tax Rate is Insane!
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Home away from home
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Sure is taking them a while to post Ogden Ave LOL. Unless I missed it.
Posted on: 2018/2/13 13:02
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Re: New Tax Rate is Insane!
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Home away from home
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Fox5 NY did a piece yesterday Feb 12th on the JC tax reval:
Property taxes skyrocket for some Jersey City residents By: ARTHUR CHI'EN Posted: Feb 12 2018 09:53PM EST Video Posted: Feb 12 2018 10:42PM EST Updated: Feb 12 2018 10:46PM EST http://www.fox5ny.com/news/jersey-city-property-taxes ** ** Mayor Fulop is on Good Day NY Live now Tuesday Feb 13th 7:35 am talking about the JC reval.
Posted on: 2018/2/13 12:36
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Re: New Tax Rate is Insane!
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Home away from home
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All the whining from Ward E and the properties are still under assessed based on recent sales in some cases.
(And just wait until the state shifts more of the education burden on Jersey City land owners since out Tax Rate is actually amongst the lowest in the state. It doesn't make sense that the suburbs are still subsidizing JC BOE when we literally have more million dollar condos than anyone else.) Landlords and property owners outside of downtown are seeing big decreases in property taxes. It's about time. This should help spur investment and renovations with the new found cash flow. To make things fair, we probably should do another reval in 5 years to account for the probable decrease in property values downtown due to the high annualized tax bill.
Posted on: 2018/2/13 8:28
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Re: New Tax Rate is Insane!
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Newbie
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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?
Posted on: 2018/2/13 4:09
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Re: New Tax Rate is Insane!
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Home away from home
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These things are not official (at least maybe up till now?) and rather fluid. While there's been a legacy of 'Italian Village' for many years, "The Village" as an organized entity is rather new, and IIRC they originally claimed parts of HC & HP. Given the number of neighborhood names in the Heights and elsewhere that I had never heard before, I think much of this is spitballing. Ever heard anyone say they lived in "Waverly"?
Posted on: 2018/2/13 3:11
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