Browsing this Thread:
1 Anonymous Users
|
Re: Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Home away from home
 
|
Allowing people to take photos inside your home is absolutely ridiculous. All your personal belongings, photographs, books on the shelves, etc, will become a matter of public record.
Those little shits ain't entering my home with a camera.
Posted on: 2011/7/5 23:25
|
|||
|
||||
|
Re: Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
the reval thread was the 3rd hit when I did it. Quote:
Where did you get that notion? think about how ridiculous that sounds, that an empty lot would have the same tax value as a high rise. Have you ever actually looked at the tax rolls? it has entries of both land and improvement values that are added together for the total assessment. Here, this'll make you crap a privacy brick, it's the public tax records, and has when anyone bought, what they paid, and what they're paying in taxes: http://tax1.co.monmouth.nj.us/cgi-bin ... &out_type=0&district=0906
Posted on: 2011/7/5 23:11
|
|||
|
||||
|
Re: Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Newbie
 
|
I did a search on both "reval" and "revaluation" so yes, really.
The tax assessment is supposed be based on lot size and location. Interior improvements are a factor in the valuation or a property when sold but is not a factor in valuation for city tax purposes. At least its not supposed to be. Does this mean that as the flooding continues to increase year to year in JC due to a failing conjoined sewer system, making my basement unusable, my taxes will go down?
Posted on: 2011/7/5 21:21
|
|||
|
||||
|
Re: Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Really? Did you try searching for "Revaluation" http://jclist.com/modules/newbb/viewt ... id=267399#forumpost267399 Quote: 2) Why are they taking picture of the property interior? Tax assessment is supposed to be based on lot size and location. If people have invested in fixing up their property why in the world would you penalize them with higher taxes? The value includes the improved value of the property, obviously. A wreck is not worth as much as a palace] Quote: 3) Do YOU trust a private firm to keep a database of property interiors on record? How tight is their security? Fair point, the data hacking we hear about is simply the tip of the iceberg, a good hacker leaves no trail. But most properties have been appraised in the sales process, and I'm sure those private companies keep the file. Personally, I'd sooner trust the private firm than our city gov't who'd sell their mothers for a bag of cash. Quote:
[/quote]By law if someone's goes up, someone else's goes down. Will the law be abided is the question. I think they'd have a lot of explaining to do if the total tax collections go up after the reval.
Posted on: 2011/7/5 21:11
|
|||
|
||||
|
Re: Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Newbie
|
Oh yeah... forgot to mention one more thing.
If you are a landlord and have rentals on your property this "private firm" will also want you to disclose personal financial information. For a property tax revaluation? Only in JC...
Posted on: 2011/7/5 20:40
|
|||
|
||||
|
Jersey City Property Revaluation 2011
|
||||
|---|---|---|---|---|
|
Newbie
|
Is there not already a Topic concerning this? if so I apologize but I couldn't find one.
In case you live under a rock, you probably already know that Jersey City plans a property revaluation this year. If you are a property owner you will receive a letter stating that a private firm has been contracted to conduct the revaluation. This firm will want to enter your property and take photographs that will go on record. The letter will also list a number at the bottom to "call with any questions or concerns": 201 547 4597 A few things I would like people to know and a few points i think should be discussed: 1) Dont bother with the number. IF you get through they have no answers for you and will tell you to call the company hired for the reval. 2) Why are they taking picture of the property interior? Tax assessment is supposed to be based on lot size and location. If people have invested in fixing up their property why in the world would you penalize them with higher taxes? 3) Do YOU trust a private firm to keep a database of property interiors on record? How tight is their security? 4) And finally, does anyone really think their property tax will go down as a result? Really?
Posted on: 2011/7/5 20:36
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
General rule of thumb it's building length x building width x number of floors. There's a whole science to the appraisal on different shaped houses, treatment of adjoining garages, basements, whether the rooms are considered finished or unfinished, etc. So for example if your basement has no lighting, electric outlets, etc, it may be counted as 1/2 or none as far as sq footage goes. If you feel like reading up more the state has a website: http://www.state.nj.us/treasury/taxat ... propertyappraisalvol1.pdf
Posted on: 2011/4/18 22:59
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
Joined:
2007/4/16 13:46 Last Login : 2023/11/15 11:50 From Village/HP
Group:
Registered Users
Posts:
536
 |
Stupid Q: how do they measure from the outside? Eg, just length and width? Or do they take into consideration floors. Sorry for the dumb question: we have 1500 over 3 floors, inc our basement.
Posted on: 2011/4/18 19:36
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Not too shy to talk
|
Does anyone know if it is possible to sign up to be among the first groups of homes assessed? We are planning to do some renovating and of course don't want to start until this re-eval is done.
Posted on: 2011/4/18 18:22
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
Joined:
2010/5/26 20:32 Last Login : 2023/9/14 15:34 From Hamilton Park
Group:
Registered Users
Posts:
214
|
How is this going? I assume the process is underway at this point, has anyone been reevaluated? If so what part of JC are you in, and how did it go?
Posted on: 2011/4/18 16:15
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Unfortunately it doesn't work off the last sales date, rather the last valuation date. As Tern pointed out, if there were recent renovations filed with the City, then you are less likely to see a tax increase to those properties not revalued since 1988. Plug in your address to easytaxfix.com if you are concerned - that will give you the best way to determine whether your property is overvalued or undervalued.
Posted on: 2011/4/18 15:27
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Not too shy to talk
|
If you have purchased a downtown property in the last 3-5 years, will taxes most likely remain the same after the reval? Or is there still a chance they will go up/down significantly?
Posted on: 2011/4/18 14:58
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
Joined:
2006/5/10 16:36 Last Login : 2023/7/18 1:45 From Hamilton Park
Group:
Registered Users
Posts:
981
|
Given that property values have increased hugely downtown since the last property valuation, and have increased much less in other areas, it seems the only possible (and fair) outcome is that downtown taxes go up a lot, and taxes in other areas will go down.
I expect everyone's taxes downtown to go up, unless you are aleady paying a high rate (as would be the case if recent conversion or renovations on your property trigerred a tax increase). Robin.
Posted on: 2011/4/18 3:49
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
It's not a windfall. JC cannot increase overall taxes over and above the state limit (2% or so). If anything it's a redistribution based on prevailing property values. Read the link.... http://www.cityofjerseycity.com/tax_assessment.aspx?id=6312
Posted on: 2011/4/18 3:29
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
|
is JC set for a windfall? why wouldn't the city adjust the rate down? what would the city do with the windfall? will the county taxes also go up? just curious? can landlords pass the increases along to tenants in rent stabilized buildings?
Posted on: 2011/4/18 3:13
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
It's the sq footage of the building as measured from the exterior of the building. And yes, let the inspector in - if you don't they can give a wrong estimate of the interior condition, and will likely err on the side of overvaluing your property. Quote:
Heights yes you are correct. I had a quick look at 07306. I plugged in an address on a for sale property to easytaxfix (52 Beacon Avenue), and the average per sq foot worked out at $160 - meaning the Heights would likely average 1/2 of Downtown as far as property tax goes. Also interesting to note that 52 Beacon Ave would likely save $2.5k/year after the reval.
Posted on: 2011/4/18 0:37
|
|||
|
||||
|
Re: what will reval mean for downtown jc homeowners?
|
||||
|---|---|---|---|---|
|
Home away from home
Joined:
2005/7/13 15:03 Last Login : 2023/6/11 23:48 From Western Slope
Group:
Registered Users
Posts:
4638
|
Quote:
That seems high, up in the Heights you can get 750 sq. ft. for the price of 500sq. ft. Are there special rates for different zip codes in Jersey City?
Posted on: 2011/4/17 22:39
|
|||
|
||||
|
Re: City To Conduct First Property Revaluation Since 1988
|
||||
|---|---|---|---|---|
|
Just can't stay away
|
dtjcview--
are the square footage u listed for the building or includes the lot? is it simply better not to let inspector in?
Posted on: 2011/4/17 20:38
|
|||
|
||||
|
Re: what will reval mean for downtown jc homeowners?
|
||||
|---|---|---|---|---|
|
Home away from home
|
BTW heres what I think property taxes will level out at after the reval, for 07302:
(sq footage * av sales/sq ft ($370) * JC equal rate (0.29) * JC tax rate (0.069). 500 sqft - $ 3,700 1000 sqft - $ 7,400 1500 sqft - $11,100 2000 sqft - $14,800 2500 sqft - $18,500 3000 sqft - $22,200 It might be less - but it's going to be the right ballpark.
Posted on: 2011/4/17 2:52
|
|||
|
||||
|
Re: what will reval mean for downtown jc homeowners?
|
||||
|---|---|---|---|---|
|
Home away from home
|
The City website has a good webpage that explains the process.
http://www.cityofjerseycity.com/tax_assessment.aspx?id=6312 I wouldn't scaremonger people on the process. If you are worried about your reval, use a site such as easytaxfix.com or zillow.com to get an indication of whether you will end up paying more or less after the reval. Personally I think that properties that don't have sq footage listed (on hudsoncountytax.com) may have most to fear, rather than say condos vs family houses.
Posted on: 2011/4/17 2:01
|
|||
|
||||
|
Re: what will reval mean for downtown jc homeowners?
|
||||
|---|---|---|---|---|
|
Home away from home
Joined:
2005/7/13 15:03 Last Login : 2023/6/11 23:48 From Western Slope
Group:
Registered Users
Posts:
4638
|
You can get a copy of the tax rate list for the last 35 years from the tax office at city hall, it is also posted on the wall. Of course the assessed value will go up but the tax rate will go down. Most should break even. I am concerned about condos though especially the older ones without the abatements. It used to be that condos were assessed less than half of the assessed value of a one or two family house in J.C. I don't think that will be the case that is where condo owners may loose. Compare apples to apples to see how much more in taxes and assessed value condos are compared to houses.
Posted on: 2011/4/16 23:35
|
|||
|
||||
|
what will reval mean for downtown jc homeowners?
|
||||
|---|---|---|---|---|
|
Just can't stay away
|
what will the upcoming reval mean for downtown homeowners -- will our taxes quadruple or more, given that market value has increased at least that much since 1988 (the last jc reval)??
or would the increased taxes collected from commercial buildings help offset what homeowners would have to pay? someone please explain?
Posted on: 2011/4/16 23:28
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Kitten, is it really worth living with crappy appliances for years to get a somewhat minimal decrease in your taxes? At current 6.9% rates after a roughly 30% EQ, if you spend $4k on appliances that might raise your taxes about $83 by my rough calculations. It is worth obsessing?
Incidentally, I was googling to double check the current rate, and this NY times headline came up: "JERSEY CITY'S TAX RATE; WHY CITIZENS OF HUDSON COUNTY ARE HEAVILY TAXED." The punch line is it's dated December 17, 1880!!! It's pretty funny is that some things never change. What's really interesting is that they cite a rate of 3%, but with no equalization rate, so the real rate they were paying is actually a couple of points higher than ours. http://query.nytimes.com/gst/abstract ... B7A93C5A81789D95F448884F9 Quote:
If the property is worthless the taxes will go down, right?
Posted on: 2010/11/9 22:16
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Thanks JCSHEP this was very helpful. I think I am not going to anything until the reval is over, eventhough our fridge is almost as old as me. I don't want to risk appearing to have renovated the kitchen.
Posted on: 2010/11/9 20:38
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Just can't stay away
|
You will get hosed no matter what. The city is broke, the state is broke, the US is broke.
If you are not prepared to walk away from your property when it becomes worthless, you are not prepared. Where is Tazmanio when you need him?
Posted on: 2010/11/9 18:52
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
If you dont need them right now and it is just an upgrade I would hold off on your new appliances as it might be a factor (although a smaller one). My fianc? has the highest RE appraiser license in the state, has studied this stuff a lot, and she works on many of the revals in NJ. I asked her last night what the deal is with appliances. The way it is done is complex (hence the classes and certifications), my explanation below is one step removed from the expert but i will try to summarize what I understand.
If you have new appliances and nothing else make sure to point this out to the inspector when they come by. Appliances such as the fridge are frequently taken with owners as they move from one house to another but the dishwasher, range and microwave would typically stay. In a condo situation the appliances will typically stay put. Therefore, the inspector MAY assume a kitchen to be "upgraded". It's really subjective and depends on the reval firm and if sales data reflects upgraded kitchens increasing value. There are different levels of upgrades however. Obviously a newly renovated kitchen with granite countertops, new cabinets, new floor AND new appliances is going to be given more weight than just newer appliances. If you renovated your kitchen or bath you should have filed permits with the town and an "Added Assessment" would've been placed on the property by the tax assessor. If not then the reval firm will pick it up in the inspection. With respect to interiors, they look at the year the condo or house was built or renovated and start there as a basis. Then they look at the kitchen and bath to see if it has been upgraded since then, ( a reno in last 10 years is usually the standard). They also mark the overall interior on a graded scale. So if you renovated your kitchen in the past 10 years and put in stone, nice cabinets, etc...just like it will increase the value of your property on the market it will increase the value of your assessment. If your kitchen hasnt been redone since the 70's but you have all new appliances it MAY be considered an updated kitchen, but only to a degree. If you only replaced the fridge then it's probably not just cause to be considered an updated kitchen. Also, the inspectors are trained to differentiate between a less expensive Ikea cabinet renovation and a top of the line job. If you put in Ikea cabinets yourself for say $5000 and they have you marked down for a top of the line $40K kitchen overhaul then you have some room to argue your value. There will be informal hearings where you can point out things like this. The burden of proof is on the homeowner so a receipt for your IKEA kitchen will be good evidence that your upgrade isn't top of the line. But again, if you are in a part of town that is highly desirable and the sales shows no difference in value between one person's kitchen with a sub zero fridge and all new granite countertops and another person's new GE fridge and Ikea cabinets...then kitchen upgrades won't make the biggest difference in your assessment. When you go through the hearing process if you still feel like you need to appeal then you will need to show sales that prove your assessment should be lowered. So let them in your house, let them see everything and double check your property record card once you receive your value. This is all explained on the website and whichever reval firm gets the bid for Jersey City they will have literature regarding the process as well. JC site: http://www.cityofjerseycity.com/tax_assessment.aspx?id=6312
Posted on: 2010/11/9 18:29
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Don't thank me yet. My reply is based on a reval being carried out in a thorough, transparent and professional manner with clearly established guidelines. I have ZERO confidence this will be the case in JC.
Posted on: 2010/11/8 21:17
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Thanks for the reply JadedJC! It was very helpful.
Posted on: 2010/11/8 20:56
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
My parents just went through a reval in Monmouth County. I was there when the guy went through the house from top to bottom, and I pestered him with questions. In principle, new appliances alone shouldn't affect the valuation because it's assumed that a refrigerator or dishwasher may break from time to time and you'll have to replace them. However, if you had new appliances installed as part of a kitchen remodeling, you'll get socked with a higher assessment. The things that will most affect your home in a reval inlcude kitchen and bathroom remodeling, finishing a basement and additions to the original structure. An experienced appraiser can usually tell right away if you've had your kitchen or bathroom remodeled, even if it's been several years since the work was done. If anyone is thinking of remodeling, my advice is to wait until after the reval.
Posted on: 2010/11/8 19:59
|
|||
|
||||
|
Re: Reval pain from 1988 still lingers - What does the past predict for the future?
|
||||
|---|---|---|---|---|
|
Home away from home
|
Do things like appliances matter for a reval? If you are considering installing new appliances, does it make sense to wait until it's over?
Posted on: 2010/11/8 17:02
|
|||
|
||||