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Re: New Tax Rate is Insane!
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The tax abatement is not 95% city and 5% county. That is an error, in fact, check with the law department of JC if you think I am wrong. It is 100% Jersey City with an extra 5% going to the county. The 5% was a settlement from a Secaucus lawsuit against JC. It was to be 10% but was cut to 5% due to favors due to retribution.

Posted on: 3/14 11:58
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MDM wrote:
I got a 13.6% reduction on my one Heights property. The building in question has a non-build lot attached to it currently used as tenant parking. Unfortunately, it isn't listed on the appraisal list. So I may get hosed a bit based on what I am reading on the increasing value of land.

My one property near North st. though I am sure will get a hefty increase. Too many giant homes renovated after the light rail went into operation.


Are you saying the lot has a separate deed? My place near the rail got a nice 20% reduction when I appealed a few years ago, I'm curious to see what they cook up to raise it. Theoretically it should still be just right.

Posted on: 3/14 11:26
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brewster wrote:
I got mine in the Heights, up 10% but they've made a nearly 20% error in estimating the habitable square footage. I guess I'll be talking to them. Also weirdly, on the card they list the property with a 25-foot frontage but on the current tax records that's clearly a 20-foot. How do you screw that up?


I got a 13.6% reduction on my one Heights property. The building in question has a non-build lot attached to it currently used as tenant parking. Unfortunately, it isn't listed on the appraisal list. So I may get hosed a bit based on what I am reading on the increasing value of land.

My one property near North st. though I am sure will get a hefty increase. Too many giant homes renovated after the light rail went into operation.

Posted on: 3/14 9:10
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I got mine in the Heights, up 10% but they've made a nearly 20% error in estimating the habitable square footage. I guess I'll be talking to them. Also weirdly, on the card they list the property with a 25-foot frontage but on the current tax records that's clearly a 20-foot. How do you screw that up?

Posted on: 3/14 1:53
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Early returns in the Heights look good. I'm seeing properties lower by 30%. Just waiting for my property to get the number.

Posted on: 3/14 0:44
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JCGuys wrote:
Jersey City budget preview released.

https://hudsoncountyview.com/jersey-ci ... t-with-zero-tax-increase/

No tax rate changes and the total budget is $587 million, $2 million less this year than the 2017 budget.

It's a little odd that the ratable base and PILOT payments have increased this year, the budget has dropped by $2 million, but the tax rate stays the same...

It literally doesn't add up.


Not that odd. Direct real estate taxation only accounts for about 60% of the municipal budget. The other sources of revenue may be lower (state aid, permit fees, other taxes) which could explain a lower budget. A 2 MM drop is not even 0.4%, so that's essentially a rounding error in practical terms.


Good point - I just wish they would comment on what was reduced that had to be made up for in other areas of the budget. The drop in the other sources is in excess of $8 million, since more money was collected in court fines ($2 million more than last year) and PILOT payments (another $2 million) along with a $95 million increase in the ratable base (also good for about $2 million in city revenue).

We won't know exactly how much more until the full budget document is released tomorrow but the $8 million swing is worth looking at.

Also, please critique if any of my math is off the mark.

Posted on: 3/13 16:22
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JCGuys wrote:
Jersey City budget preview released.

https://hudsoncountyview.com/jersey-ci ... t-with-zero-tax-increase/

No tax rate changes and the total budget is $587 million, $2 million less this year than the 2017 budget.

It's a little odd that the ratable base and PILOT payments have increased this year, the budget has dropped by $2 million, but the tax rate stays the same...

It literally doesn't add up.


Not that odd. Direct real estate taxation only accounts for about 60% of the municipal budget. The other sources of revenue may be lower (state aid, permit fees, other taxes) which could explain a lower budget. A 2 MM drop is not even 0.4%, so that's essentially a rounding error in practical terms.

Posted on: 3/13 15:52
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Jersey City budget preview released.

https://hudsoncountyview.com/jersey-ci ... t-with-zero-tax-increase/

No tax rate changes and the total budget is $587 million, $2 million less this year than the 2017 budget.

It's a little odd that the ratable base and PILOT payments have increased this year, the budget has dropped by $2 million, but the tax rate stays the same...

It literally doesn't add up.

Posted on: 3/13 13:51
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I have a PILOT. The next time it goes up to 40% will be in 2020 (expires 2030). I was under the assumption that the new property assessment would be applied then, not when the abatement expires.

Posted on: 3/13 13:24
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srs7191 wrote:
Just to add to the abatement numbers.

We're on an abatement, roughly 10k per year.

Land, pre-reval, was negligible, about $300 per year. Now it's estimated to be about $2k.

So, all in all, going from 10.3k to about 12k.

If we had no abatement, the property tax would be around $14k. It expires in a few years.

So, all things equal, in a few years our property tax will go up roughly $2k.

If the recent numbers in this thread are true, that means when the abatement expires, the city will go from collecting ~$11.4k per year, to $7k per year from us.

This building has around 100 units in it. Meaning when the abatement expires, the city will lose (approx., at 2018 numbers) $450k per year.


Now, extrapolate your example by the many buildings that will see abatements expire over the next few years and decade, and you start to see a huge looming budget hole. And, the only way the city will be able to plug that hole is by getting more people to move here, or by raising taxes. All those people picketing in front of city hall, demanding that abatements be done away with have no idea what they are asking for, and what will happen if their misplaced demands were suddenly manifested.

Posted on: 3/13 13:17
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Just to add to the abatement numbers.

We're on an abatement, roughly 10k per year.

Land, pre-reval, was negligible, about $300 per year. Now it's estimated to be about $2k.

So, all in all, going from 10.3k to about 12k.

If we had no abatement, the property tax would be around $14k. It expires in a few years.

So, all things equal, in a few years our property tax will go up roughly $2k.

If the recent numbers in this thread are true, that means when the abatement expires, the city will go from collecting ~$11.4k per year, to $7k per year from us.

This building has around 100 units in it. Meaning when the abatement expires, the city will lose (approx., at 2018 numbers) $450k per year.

Posted on: 3/13 11:45
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HeightsNative wrote:
Fair point, Bodhi. And your estimate is a fair compromise with the state.


It will be interesting to see how this plays out. Trenton is not known for being swift, so any changes to school funding could take a long time, and the topic itself is fraught with so much politics that it will be a small miracle to see any meaningful changes. As such, JC may dodge a bullet for a while. Hard to tell how hard other municipalities will react to our "low" rate. Logic would tell you that they would be up in arms immediately but, as the expression goes, politics makes for strange bedfellows.

The promised second reval could prove tricky, or even treacherous, for Fulop if school funding changes are forced, as the JC homeowners will end up with even higher taxes, and people have a hard time understanding the finer points and will likely not be very forgiving if the overall levies go up, even if the city administration is not at fault. Also, expiring abatements over the next few years may push up tax levies if those properties are paying higher PILOTs today than regular taxes.

Posted on: 3/13 10:38
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Fair point, Bodhi. And your estimate is a fair compromise with the state.

Posted on: 3/13 8:58
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But that doesn't fit the narrative spread by Yvonne and others that the city loses money with tax abatements. In this case, the city is getting A LOT more than they would if there was no abatement. Not just in total taxes, but since the city doesn't have to split with PILOT payments with Hudson County and the School Board.

What's the breakdown anyway? Most of the property taxes goes to the school board, right?


My understanding is that when it comes to regular property taxes in JC, the breakdown is about 50% city, 25% school, 25% county. Not sure if those numbers are 100% accurate.

As for abatements, 95% city, 5% county.


As yes, the reality of taxation in JC is SOOOOO different from what most people think, partly based on ignorance, and part on the lies and myths spread by people like Yvonne.

The city would lose a TON of money if the abatements were magically done away with overnight. They would have to raise taxes tremendously to make up the shortfall. At about ~128 MM/year, PILOTs account for about 36% of tax revenue. That means those abated properties are collectively paying ~135 MM/year. To collect the same amount of money (128 MM) the city would need to collect almost 260 MM, and that would be spread across all homeowners. Talk about tax hit. People should be wary of wanting to do away with all abatements.


Now imagine JC had to pay for its own schools! That would be a roughly $500mm hit to non abated properties. Heaven forbid that gives JC a property tax rate closer to the rest of the state!

That's the whole crux here; granting of abatements relies entirely on the fact that this state funding never goes away. That's a massive risk the mayor and council are taking (previous and current. And probably future). But, like with the reval, that will be someone elses problem down the road.


It's not a massive risk. It's a calculates risk. By law, the state (and, indirectly, other municipalities) are required to fund the JC school district. The Abbott decisions have been upheld, and even expanded, on many occasions. So, what you will see is rumblings in Trenton from other municipalities, and we will likely see an increase in what JC is expected to shoulder, but it will never be 500 MM. At most, they will ask (force?) us to double our funding, making us responsible for about 33% of our budget. That move would push our current 1.62% rate to about 2%.

Posted on: 3/13 8:21
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JCGuys wrote:
But that doesn't fit the narrative spread by Yvonne and others that the city loses money with tax abatements. In this case, the city is getting A LOT more than they would if there was no abatement. Not just in total taxes, but since the city doesn't have to split with PILOT payments with Hudson County and the School Board.

What's the breakdown anyway? Most of the property taxes goes to the school board, right?


My understanding is that when it comes to regular property taxes in JC, the breakdown is about 50% city, 25% school, 25% county. Not sure if those numbers are 100% accurate.

As for abatements, 95% city, 5% county.


As yes, the reality of taxation in JC is SOOOOO different from what most people think, partly based on ignorance, and part on the lies and myths spread by people like Yvonne.

The city would lose a TON of money if the abatements were magically done away with overnight. They would have to raise taxes tremendously to make up the shortfall. At about ~128 MM/year, PILOTs account for about 36% of tax revenue. That means those abated properties are collectively paying ~135 MM/year. To collect the same amount of money (128 MM) the city would need to collect almost 260 MM, and that would be spread across all homeowners. Talk about tax hit. People should be wary of wanting to do away with all abatements.


Now imagine JC had to pay for its own schools! That would be a roughly $500mm hit to non abated properties. Heaven forbid that gives JC a property tax rate closer to the rest of the state!

That's the whole crux here; granting of abatements relies entirely on the fact that this state funding never goes away. That's a massive risk the mayor and council are taking (previous and current. And probably future). But, like with the reval, that will be someone elses problem down the road.

Posted on: 3/13 8:12
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JCGuys wrote:
But that doesn't fit the narrative spread by Yvonne and others that the city loses money with tax abatements. In this case, the city is getting A LOT more than they would if there was no abatement. Not just in total taxes, but since the city doesn't have to split with PILOT payments with Hudson County and the School Board.

What's the breakdown anyway? Most of the property taxes goes to the school board, right?


My understanding is that when it comes to regular property taxes in JC, the breakdown is about 50% city, 25% school, 25% county. Not sure if those numbers are 100% accurate.

As for abatements, 95% city, 5% county.


As yes, the reality of taxation in JC is SOOOOO different from what most people think, partly based on ignorance, and part on the lies and myths spread by people like Yvonne.

The city would lose a TON of money if the abatements were magically done away with overnight. They would have to raise taxes tremendously to make up the shortfall. At about ~128 MM/year, PILOTs account for about 36% of tax revenue. That means those abated properties are collectively paying ~135 MM/year. To collect the same amount of money (128 MM) the city would need to collect almost 260 MM, and that would be spread across all homeowners. Talk about tax hit. People should be wary of wanting to do away with all abatements.

Posted on: 3/12 15:55
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But that doesn't fit the narrative spread by Yvonne and others that the city loses money with tax abatements. In this case, the city is getting A LOT more than they would if there was no abatement. Not just in total taxes, but since the city doesn't have to split with PILOT payments with Hudson County and the School Board.

What's the breakdown anyway? Most of the property taxes goes to the school board, right?

Posted on: 3/12 15:30
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This is a fascinating case! A tax abated property paying 55% more than if it had received no tax abatement and paid normal property taxes.

The city will collect thousands less when the tax abatement is dropped AND it will have to share those revenues with JCBOE and the County.



Not at all surprising. In fact, for a while I have been speculating this would become a reality for many homeowners who have purchased abated properties in recent times: their abated taxes are higher than traditional taxes now that the reval came out with such a relatively low property tax rate.

All those Canco Loft units were "abated" at ~1.67%, so they could now go off their abatement contracts and save a bit of money, and the city will have to come up with additional income streams to make up the large shortfall. The same is likely true of many, many other property owners. The real question is: how many homeowners are savvy enough to look at their abatement contracts and do the math to determine which is better for them: abatement or regular taxes. If enough people decide to go off abatement, the city will see a huge drop in income and that promised reval for next year may actually yield a higher rate. That definitely would spell trouble for the mayor, and those DTJC homeowners wishing/hoping for relief after a second reval.


Posted on: 3/12 12:41
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This is a fascinating case! A tax abated property paying 55% more than if it had received no tax abatement and paid normal property taxes.

The city will collect thousands less when the tax abatement is dropped AND it will have to share those revenues with JCBOE and the County.


Posted on: 3/12 11:10
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@JC_Rider - so between the lines - the portion of the assessment under the PILOT does not change under the reval until the PILOT expires. And I guess the rules for dropping an abatement may be different to a standard appeal. With the latter - an appeal in 2018 would apply to the whole of 2018, though you'd pay the original 2018 bill then get a refund in Jan 2019.

Worth getting an attorney on the case. I would have expected the original PILOT to be expressed in % of assessed value - and should be updated with the reval. Likely the tax office's IT system can't handle that update.

Posted on: 3/12 9:31
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JC_rider wrote:
Does anyone know how to remove tax abatement from a property? Just got the new assesment and heading to City Hall tomorrow.

Bought a condo on Westside last year near Mallory and knew taxes were too high because it was originally sold at peak of 2005 with abatement. Now I get a tax bill and city is increasing the % on the improvements. If I were to get rid of the abatement it will save me more than 30% for 2018! Kicker is with abatement dropped some of that money will go to school system that badly needs it.

We knew that people in Greenville, B/L & Westside were subsidizing rest of downtown Hamilton Park but this is just crazy.If you have an abated property make sure to compare what it would be without it.


Yvonne, do you have anything to say about this?

I find it interesting because only improvements can receive an tax abatement. Land is taxed normally.

Are you seriously suggesting that because of the reval, your taxes are going up and you would pay 30% less if you were taxed normally?

Can anyone else help me understand this situation?


Paging Yvonne


It's really a question for the tax office. Under a standard 5-year abatement for improvements, you get something like a 25% exemption. That exemption should apply to the post-reval assessment if you're still in the abatement period. What you can't do is appeal taxes during an abatement.

Sounds like JC_Rider is in one of the piloted properties that has a longer abatement. Different rules to the 5-year. Need an expert to figure it out - might even be worth hiring an attorney to renegotiate.


Clarification on original post: Quarterly land taxes are going up from $210 annually to 670! I said it backwards before land vs improvements. Pilot part staying same around $4250 but total adds up to $4870 annually with abatement. 2018 assessment is 192K. Without abatement it should be $3110 using 2018 assessment at 1.62 rate. My math was way off on the original post as well. I will be paying %55 more ($4870-$3110=$1760! )

I knew the taxes were high when picked up the property last year and spoke a lawyer. He told me to hold off until reval & new tax rate comes out since abatement is good until 2025.

Spoke to abatement & tax office and I have to submit in writing to drop the abatement. They warned me that once dropped can't get it back. I don't expect taxes to go up 55% until 2025 and keeping abatement is a guaranteed 55%+ until 2025!. I am going to drop the abatement but they told me that deadline was Oct 31. Going to talk to lawyer to see if it can be done sooner.

Abatement office told me about the credit and my taxes should stay the same as 2017 but even that is a crazy over payment.
2017 annual $4460- 2018 at 1.62 rate of 192K assessed value is $3110. $1350 or %43.4 over payment!


I think all my neighbors have been overpaying since 2008 market crash in this complex because original purchase was at the peak with abatement.

Posted on: 3/12 0:00
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JCGuys wrote:
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JC_rider wrote:
Does anyone know how to remove tax abatement from a property? Just got the new assesment and heading to City Hall tomorrow.

Bought a condo on Westside last year near Mallory and knew taxes were too high because it was originally sold at peak of 2005 with abatement. Now I get a tax bill and city is increasing the % on the improvements. If I were to get rid of the abatement it will save me more than 30% for 2018! Kicker is with abatement dropped some of that money will go to school system that badly needs it.

We knew that people in Greenville, B/L & Westside were subsidizing rest of downtown Hamilton Park but this is just crazy.If you have an abated property make sure to compare what it would be without it.


Yvonne, do you have anything to say about this?

I find it interesting because only improvements can receive an tax abatement. Land is taxed normally.

Are you seriously suggesting that because of the reval, your taxes are going up and you would pay 30% less if you were taxed normally?

Can anyone else help me understand this situation?


Paging Yvonne


It's really a question for the tax office. Under a standard 5-year abatement for improvements, you get something like a 25% exemption. That exemption should apply to the post-reval assessment if you're still in the abatement period. What you can't do is appeal taxes during an abatement.

Sounds like JC_Rider is in one of the piloted properties that has a longer abatement. Different rules to the 5-year. Need an expert to figure it out - might even be worth hiring an attorney to renegotiate.

Posted on: 3/11 23:00
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JC_rider wrote:
Does anyone know how to remove tax abatement from a property? Just got the new assesment and heading to City Hall tomorrow.

Bought a condo on Westside last year near Mallory and knew taxes were too high because it was originally sold at peak of 2005 with abatement. Now I get a tax bill and city is increasing the % on the improvements. If I were to get rid of the abatement it will save me more than 30% for 2018! Kicker is with abatement dropped some of that money will go to school system that badly needs it.

We knew that people in Greenville, B/L & Westside were subsidizing rest of downtown Hamilton Park but this is just crazy.If you have an abated property make sure to compare what it would be without it.


Yvonne, do you have anything to say about this?

I find it interesting because only improvements can receive an tax abatement. Land is taxed normally.

Are you seriously suggesting that because of the reval, your taxes are going up and you would pay 30% less if you were taxed normally?

Can anyone else help me understand this situation?


Paging Yvonne

Posted on: 3/11 22:00
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an investor that didn't due their due diligence deserves what's coming to them.

I'm not so sure about that. People buying a house talk to their lawyer and broker. If neither of them tells the buyer about the reval, how would they know? The bank should know and tell them, since a value drop will change the LTV, but will they?

Dtjcview, that's very interesting about the Minnesota program. Fulop should be researching that.

Posted on: 3/11 17:27
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Dolomiti, you and Brewster and I seem to agree on these things, so I hope it doesn’t sound like I’m arguing with either one of you. You guys have really put in some time trying to call out these folks claiming unfairness. It’s unreal.

I’m really disheartened by the greed and audacity of longtime downtowners who claim in one breath to have spent decades creating and building this city and in another breath claiming that they had no idea about the taxes or that it comes as a complete shock. It’s really something else.


I've got no dog in this fight, as I'm a renter. but I do feel for my long-time neighbors who planned on retiring here, and will now probably have to sell. good for them for getting squillions on a home they bought for very little, decades ago. but it's a big bummer to have to uproot yourself in your golden years, just because you are now sitting on a hot property.

likewise, if my landlord has to double my rent, he'll lose a known tenant who's been trouble-free for years. instead he'll have to deal with someone new, who might make extra demands in line with market-rate rent, yet he'll have no extra $$ in the bank in exchange for that headache.

yes, of course he can sell. but he too was planning on retiring here, so please refer to paragraph one of my post.


A couple of thoughts:
- the hypothetical owner of your post would have many more options than just “will have to sell”. Among them: reverse mortgage, HE loan, HE LOC, etc.

- no renter would see his rent double because his landlord's taxes have doubled. That’s sheer misunderstanding of the numbers involved. Take the extreme example of a homeowner going from 20K to 40K. If that landlord had a single tenant, and he wanted to pass on the entirety of the tax increase onto the tenant, that means charging an additional $1,666/month. That’s only a doubling if the tenant is only paying 1,666/mo today, which seems unlikely for that kind of property. That would be an easy one to fight in housing court.


$1666/month would not double my rent, it's true. but can you name anyone in your social circle who could handle that kind of increase, even if it's only 50%?



This is nonsense. A landlord's operating cost doesn't determine how much rent that can charged. The market does that.

Take for example a rental property in Greenville that will see their taxes halved from $6,000 a year to $3,000 a year thanks to the reval. The landlord isn't going to lower their rents and pass on the savings to their renters. They're going to continue to charge whatever the market is willing to bear. All else equal, the landlord will have an additional $3,000 a year in positive cash flow (less any state and federal taxes for the $3,000 in additional taxable income) thanks to the reval.

A leveraged property investor who recently bought a downtown property for rental purposes and will see their property taxes double can't just pass on the property tax increase to their renters. The renters will move out to other areas of town with more reasonable rents. The property will sit vacant if the rent is higher than what people are willing to pay. In other words, a landlord cannot charge more than what the market is willing to pay.

It's very possible recent investors that bought downtown may have to sell (possibly at a loss) or continue to eat the negative cash flow caused by the reval. I don't know how many years now people have been warning about the reval in the downtown market, and an investor that didn't due their due diligence deserves what's coming to them.

Economics 101 people.



Posted on: 3/11 14:44
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JCGuys wrote:
Needs to be state driven, IMO. Property tax deferral for retirees with the accumulated balance plus interest due upon sale.


The state is not involved in the property taxation process at all, it's the cities and counties, why should they get involved in this solution?


The NJ senior freeze program is run by the state. And states like Minnesota run their tax deferral (reverse mortgage-like) program. Consistent and independent governance, consistency of policies, economies of scale...some good reasons to manage at the state level.

http://www.state.nj.us/treasury/taxation/ptr/

https://jux.law/senior-citizen-propert ... l-minnesota-property-tax/

Posted on: 3/11 14:16
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Needs to be state driven, IMO. Property tax deferral for retirees with the accumulated balance plus interest due upon sale.


The state is not involved in the property taxation process at all, it's the cities and counties, why should they get involved in this solution?

Posted on: 3/11 13:49
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Dolomiti, you and Brewster and I seem to agree on these things, so I hope it doesn’t sound like I’m arguing with either one of you. You guys have really put in some time trying to call out these folks claiming unfairness. It’s unreal.

I’m really disheartened by the greed and audacity of longtime downtowners who claim in one breath to have spent decades creating and building this city and in another breath claiming that they had no idea about the taxes or that it comes as a complete shock. It’s really something else.


I've got no dog in this fight, as I'm a renter. but I do feel for my long-time neighbors who planned on retiring here, and will now probably have to sell. good for them for getting squillions on a home they bought for very little, decades ago. but it's a big bummer to have to uproot yourself in your golden years, just because you are now sitting on a hot property.

likewise, if my landlord has to double my rent, he'll lose a known tenant who's been trouble-free for years. instead he'll have to deal with someone new, who might make extra demands in line with market-rate rent, yet he'll have no extra $$ in the bank in exchange for that headache.

yes, of course he can sell. but he too was planning on retiring here, so please refer to paragraph one of my post.


A couple of thoughts:
- the hypothetical owner of your post would have many more options than just “will have to sell”. Among them: reverse mortgage, HE loan, HE LOC, etc.

- no renter would see his rent double because his landlord's taxes have doubled. That’s sheer misunderstanding of the numbers involved. Take the extreme example of a homeowner going from 20K to 40K. If that landlord had a single tenant, and he wanted to pass on the entirety of the tax increase onto the tenant, that means charging an additional $1,666/month. That’s only a doubling if the tenant is only paying 1,666/mo today, which seems unlikely for that kind of property. That would be an easy one to fight in housing court.


$1666/month would not double my rent, it's true. but can you name anyone in your social circle who could handle that kind of increase, even if it's only 50%?


Posted on: 3/11 13:33
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Total fees will be closer to $15,000 at the end of the day. Loan origination is just one of several.


Apparently the other biggest chunk is the Mortgage Insurance Premium, which can be 2% of value, but the important thing not broadcast is that if you take a "line of credit" style reverse, the MIP at origination is a fraction of that, it's dependent on your loan balance. My impression is a lot of the abusive loans came from brokers who were paid more for lump sum rather than line of credit style loans. Lump sum was certainly inappropriate for the lady in the article.

As I've said before, it would be so much better if the city set this up themselves to securitize "reverse mortgage" style tax liens for homeowners who met certain qualifications of age or income. It would be a win all around with less fear for homeowners and less uncertainty for the city coffers.


Needs to be state driven, IMO. Property tax deferral for retirees with the accumulated balance plus interest due upon sale.

Posted on: 3/10 22:29
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Total fees will be closer to $15,000 at the end of the day. Loan origination is just one of several.


Apparently the other biggest chunk is the Mortgage Insurance Premium, which can be 2% of value, but the important thing not broadcast is that if you take a "line of credit" style reverse, the MIP at origination is a fraction of that, it's dependent on your loan balance. My impression is a lot of the abusive loans came from brokers who were paid more for lump sum rather than line of credit style loans. Lump sum was certainly inappropriate for the lady in the article.

As I've said before, it would be so much better if the city set this up themselves to securitize "reverse mortgage" style tax liens for homeowners who met certain qualifications of age or income. It would be a win all around with less fear for homeowners and less uncertainty for the city coffers.

Posted on: 3/10 21:29
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