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Re: Tax Assessment
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borisp wrote:
Interesting. So, if the condo is evaluated at 300K, and it is let out for 2K, than after the city takes its cut, the owner will be left with the less than 1% income?
That not counting the amount he will need to spend on condo fees, or repairs, or whatnot.
Which would mean that the market prices of the properties will have to go way down in order to make those properties attractive. Like 50% it seems.
Unless the taxes are reduced drastically to about 2-3%
Am I missing something?

The tax rate will drop as it has with other past revals. Right now we are assessed at 25% market value. When the new reval takes place we will be at 100% so the tax rate will drop by 75%. I am just concerned after the new assessed value is in place will they raise the tax rate. Because multiplied by the new assessment it would be a larger jump in the levy then prior to the reval.

Posted on: 2012/2/15 14:45
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Re: Tax Assessment
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Interesting. So, if the condo is evaluated at 300K, and it is let out for 2K, than after the city takes its cut, the owner will be left with the less than 1% income?

That not counting the amount he will need to spend on condo fees, or repairs, or whatnot.

Which would mean that the market prices of the properties will have to go way down in order to make those properties attractive. Like 50% it seems.

Unless the taxes are reduced drastically to about 2-3%

Am I missing something?

Posted on: 2012/2/15 5:19
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Re: Tax Assessment
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smileynjmd wrote:
Could anyone talk me through the new tax assessment I just received. It seems to remain the same, which I find impossible for our fine city. Thanks.

The assessment has been the same since 1988 it will change uopn the new reval in the next couple ot years when completed. The tax rate changed last year from $69.03 to $70.08 per $1000 of assessed value.

Posted on: 2012/2/14 8:14
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Tax Assessment
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Could anyone talk me through the new tax assessment I just received. It seems to remain the same, which I find impossible for our fine city. Thanks.

Posted on: 2012/2/14 4:20
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Re: Jersey City Property Tax Rate
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Dahood wrote:
I read in the journal that the raise was within 2 percent. So 1.5 looks correct. It cannot be 30 percent.

The statewide website has been corrected to reflect the 1.5% hike and the normal layout.

Posted on: 2012/2/8 16:16
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Re: Jersey City Property Tax Rate
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I read in the journal that the raise was within 2 percent. So 1.5 looks correct. It cannot be 30 percent.

Posted on: 2012/2/8 5:09
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Re: Jersey City Property Tax Rate
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http://tax1.co.monmouth.nj.us/cgi-bin ... &out_type=0&district=0906
This site is reflecting that Jersey City raised their property taxes 30%. The Hudson County division of Taxation directed me to this statewide site so it is credible. When I called the City of Jersey City division of Taxation (201) 547-5132 they stated taxes were raised 1.5 % to $70.08 per $1000 of the current assessed value of the property. So we are now paying $1.05 more in the tax rate. But I am still concerned about this 30% hike is it a typo ? Also due to the re-mapping of the properties there are new block and lot numbers but the assessment is still the same.

Posted on: 2012/2/7 14:33
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Re: Jersey City Property Tax Rate
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Thanks,

I called the assessor's office and they indicated that the first 2 quarters of 2011 were calculated using the 2010 rates and the decreased asssessed values were also not used.

I have to call back tomorrow so they can manually change my billing to reflect the right information.

Posted on: 2011/4/5 17:58
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Re: Jersey City Property Tax Rate
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I would call first cause they can probably help over the phone: 201 547-5124/5125
I just spoke to them yesterday and they were very helpful. I know that the 2010 rate was 69.03 but I'm not sure if the 2011 rate has been calculated yet..I believe that comes out in May?

Posted on: 2011/4/5 16:12
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Re: Jersey City Property Tax Rate
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You need to visit the tax assessor's office in City Hall. I would bring your approval letter/notice of your property with you.

Posted on: 2011/4/5 14:14
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Jersey City Property Tax Rate
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Does anyone know the Jersey City property tax rate for 2011?

It seems my assessed value went down for 2011, the assessors role was last updated in late 2010 and my taxes are higher for 2011 than they were in 2010. Im confused.

If anyone knows the rate or where to look that would be great. I did a couple google searches and didnt come up with anything.

Posted on: 2011/4/5 13:23
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