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Re: Jersey City mayor-elect orders end to citywide reval
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To go after O'Reilly never made sense, he was the tax assessor for JC before he became the business administrator. He understood JC properties better than any outside firm. Fulop wanted a scape goat in order to cancel the revaluation and decided O'Reilly would fix the bill.

Posted on: 6/13 21:43
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Re: Jersey City mayor-elect orders end to citywide reval
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Posted on: 6/13 12:45
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Re: Jersey City mayor-elect orders end to citywide reval
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Of course there will be revenue...to the campaign accounts of those who voted in favor of this scheme

Posted on: 3/23 13:52
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Ralph_Abutts wrote:
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light12v wrote:
LAST EVENING ANY PROSPECT FOR ADDING AN ADDITIONAL 16 ACRES TO JC TAX RATE-ABLES WAS ELIMINATED BY OUR ELECTED OFFICIALS.

YOU CAN SEND YOUR THANK-YOU CARDS TO:
MAYOR Steven Fulop
Council President Rolando R. Lavarro, Jr.
Councilwoman at Large Joyce Watterman
Councilman at Large Daniel Rivera
Ward A (Greenville) Councilman Frank Gajewski
Ward E (Downtown) Councilwoman Candice Osborne
Ward F (Bergen/Lafayette) Councilman Jermaine Robinson



Really? Is that so. How much revenue is the city collecting presently on the 16 acres? Here, I'll answer that for you: zero, nada, nothing.


City officials have argued that the deal isn't a giveaway, citing a revenue-sharing portion of its agreement with SciTech Scity. Once the complex earns a surplus beyond $78 million, the city would share in the revenue, initially getting 50 percent and, once the value of the city's land is paid off, 20 percent. If the project doesn't get off the ground, they say, the land reverts back to JCRA control.

..from:

http://www.nj.com/hudson/index.ssf/20 ... d.html#incart_2box_hudson
maybe the city council should get sometype of independent opinion...is there anything like the CBO for cities?

Posted on: 3/23 13:46
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Re: Jersey City mayor-elect orders end to citywide reval
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If the city can sell 2.5 acres for $24 million to the Medical Center then it had the potential to sell 16 acres with prime view of NYC, the Hudson River, Liberty State Park and the lite rail. It is probably worth $100 to $200 million. It is probably the reason no appraisal was done before the transfer.

Posted on: 3/23 13:00
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Re: Jersey City mayor-elect orders end to citywide reval
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light12v wrote:
LAST EVENING ANY PROSPECT FOR ADDING AN ADDITIONAL 16 ACRES TO JC TAX RATE-ABLES WAS ELIMINATED BY OUR ELECTED OFFICIALS.

YOU CAN SEND YOUR THANK-YOU CARDS TO:
MAYOR Steven Fulop
Council President Rolando R. Lavarro, Jr.
Councilwoman at Large Joyce Watterman
Councilman at Large Daniel Rivera
Ward A (Greenville) Councilman Frank Gajewski
Ward E (Downtown) Councilwoman Candice Osborne
Ward F (Bergen/Lafayette) Councilman Jermaine Robinson



Really? Is that so. How much revenue is the city collecting presently on the 16 acres? Here, I'll answer that for you: zero, nada, nothing.


City officials have argued that the deal isn't a giveaway, citing a revenue-sharing portion of its agreement with SciTech Scity. Once the complex earns a surplus beyond $78 million, the city would share in the revenue, initially getting 50 percent and, once the value of the city's land is paid off, 20 percent. If the project doesn't get off the ground, they say, the land reverts back to JCRA control.

..from:

http://www.nj.com/hudson/index.ssf/20 ... d.html#incart_2box_hudson

Posted on: 3/23 12:36
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Re: Jersey City mayor-elect orders end to citywide reval
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light12v wrote:
LAST EVENING ANY PROSPECT FOR ADDING AN ADDITIONAL 16 ACRES TO JC TAX RATE-ABLES WAS ELIMINATED BY OUR ELECTED OFFICIALS.

YOU CAN SEND YOUR THANK-YOU CARDS TO:
MAYOR Steven Fulop
Council President Rolando R. Lavarro, Jr.
Councilwoman at Large Joyce Watterman
Councilman at Large Daniel Rivera
Ward A (Greenville) Councilman Frank Gajewski
Ward E (Downtown) Councilwoman Candice Osborne
Ward F (Bergen/Lafayette) Councilman Jermaine Robinson




Excellent news!

Posted on: 3/23 7:47
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Re: Jersey City mayor-elect orders end to citywide reval
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LAST EVENING ANY PROSPECT FOR ADDING AN ADDITIONAL 16 ACRES TO JC TAX RATE-ABLES WAS ELIMINATED BY OUR ELECTED OFFICIALS.

YOU CAN SEND YOUR THANK-YOU CARDS TO:
MAYOR Steven Fulop
Council President Rolando R. Lavarro, Jr.
Councilwoman at Large Joyce Watterman
Councilman at Large Daniel Rivera
Ward A (Greenville) Councilman Frank Gajewski
Ward E (Downtown) Councilwoman Candice Osborne
Ward F (Bergen/Lafayette) Councilman Jermaine Robinson



Posted on: 3/23 4:35
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Re: Jersey City mayor-elect orders end to citywide reval
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bodhipooh wrote:
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heights wrote:
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bodhipooh wrote:
Another entry for the JC Property Tax Hall of Shame:

https://www.zillow.com/homedetails/243 ... y-NJ-07302/38888495_zpid/

243 2nd St -
Asking Price: 1.75 MM
Taxes (2015): 10.6 K (a whopping 0.6%)

If we end up at a 2% rate, the new taxes would be 35K. Even if we end up with a 1.8% rate, this property will pay 31.5K. I wonder if the seller, or their agent, will disclose that to potential buyers.

Tell me again how this reval is not overdue?

If they have to be told then they should continue to rent.


That's total BS, Heights. Full disclosure of critical matters related to a property sale should be legally required. Lots of buyers are gobbling up DTJC properties seemingly unaware of the impending reval. How's someone supposed to know about the reval process and the potential for a doubling or tripling of the advertised taxes.


The joke is that any property on a 25x100 lot should have to pay $35k in taxes. Let alone one in a city loaded with business and industry that should offset property taxes. Then again I guess Steve will need to cover the estimated $9.6 million lost in federal aid.

Posted on: 3/23 0:06
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Re: Jersey City mayor-elect orders end to citywide reval
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heights wrote:
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bodhipooh wrote:
Another entry for the JC Property Tax Hall of Shame:

https://www.zillow.com/homedetails/243 ... y-NJ-07302/38888495_zpid/

243 2nd St -
Asking Price: 1.75 MM
Taxes (2015): 10.6 K (a whopping 0.6%)

If we end up at a 2% rate, the new taxes would be 35K. Even if we end up with a 1.8% rate, this property will pay 31.5K. I wonder if the seller, or their agent, will disclose that to potential buyers.

Tell me again how this reval is not overdue?

If they have to be told then they should continue to rent.


That's total BS, Heights. Full disclosure of critical matters related to a property sale should be legally required. Lots of buyers are gobbling up DTJC properties seemingly unaware of the impending reval. How's someone supposed to know about the reval process and the potential for a doubling or tripling of the advertised taxes.

Posted on: 3/22 23:14
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Re: Jersey City mayor-elect orders end to citywide reval
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It's really tough to come up with any honest argument that doesn't support getting this reval done quickly and accurately.

People are coming up with all kinds of quack justifications for why it is unfair. Amazing what sticker shock will do to ones ability to be rational...

Posted on: 3/22 22:08
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Re: Jersey City mayor-elect orders end to citywide reval
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bodhipooh wrote:
Another entry for the JC Property Tax Hall of Shame:

https://www.zillow.com/homedetails/243 ... y-NJ-07302/38888495_zpid/

243 2nd St -
Asking Price: 1.75 MM
Taxes (2015): 10.6 K (a whopping 0.6%)

If we end up at a 2% rate, the new taxes would be 35K. Even if we end up with a 1.8% rate, this property will pay 31.5K. I wonder if the seller, or their agent, will disclose that to potential buyers.

Tell me again how this reval is not overdue?

If they have to be told then they should continue to rent.

Posted on: 3/22 20:08
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Re: Jersey City mayor-elect orders end to citywide reval
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Another entry for the JC Property Tax Hall of Shame:

https://www.zillow.com/homedetails/243 ... y-NJ-07302/38888495_zpid/

243 2nd St -
Asking Price: 1.75 MM
Taxes (2015): 10.6 K (a whopping 0.6%)

If we end up at a 2% rate, the new taxes would be 35K. Even if we end up with a 1.8% rate, this property will pay 31.5K. I wonder if the seller, or their agent, will disclose that to potential buyers.

Tell me again how this reval is not overdue?


Posted on: 3/22 19:12
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Re: Jersey City mayor-elect orders end to citywide reval
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Posted on: 3/22 14:17
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brewster wrote:
My experience with appraisals is that they're bullshit from top to bottom.


During my financing journey in the pre-housing bubble era, I came to the same conclusion. I became convinced the appraisal came out to whatever the bank (I could only use portfolio lenders.. no Fannie or Freddie) wanted the appraisal to come out too.

One (Emigrant Savings) arbitrarily reduced the value on the appraisal report because the building was attached on two sides (it's a townhouse). This left me with five figure mortgage and far more equity in the property than I had figured (based on comps in the area).

Posted on: 3/22 2:33
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My experience with appraisals is that they're bullshit from top to bottom. I was trying to refi and had banks do 2 different appraisals. I held the tape measure for 1 guy. His gross sq footage came out 20% under. The other guys was 15% under. I could see the bogus measurements in the drawings. A rowhouse with a 1 floor extension is easy, it's 2 boxes. The banks said tough shit, that's what it's worth.

What they apparently do is decide what the number should be and then fudge using the measurements and subjective numbers like GRM to make it come out. One appraisal even had the 3 methods, comp, replacement and rent, all come out within a couple of thousand of each other. What do suppose the odds were?

Now take that process, and for the reval make it even faster and shittier. Should be fun.
omg, don't get me started on appraisals. i once had an appraisal done for a refi that was so bad that the bank rejected the appraisal because it was so badly done despite the fact that the property appraised at the value i needed. why use comprabales for a house 5-15 miles away when similar houses have sold right done the street in the recent past?

Posted on: 3/21 22:35
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bodhipooh wrote:
That article is being bandied about on the NextDoor site. The article is poorly written in that critical facts were left out of the narrative. Before getting all riled up, look at the facts. The taxes did not rise 111% because of the appraisal errors. The guy is looking for sympathy based on half truths.


What is incredibly frustrating is how the reporter absolutely sticks by her misreporting despite multiple comments stating that this story is bullcrap. She keeps insisting that the owner was bamboozled because of an incorrect bathroom/bedroom count--however, multiple people have sourced the original MLS sheet showing 6 bedrooms as well as the owner's OWN for rent listing showing 6 bedrooms. She completely ignores his purchase price. I would bet good money that the house is not 1500 sq ft as he claimed, anyone with eyes can see that. Several comments have calculated square foot based on Google Earth/dug up property records that show around 2600 sq ft. I could go on and on.

The article and journalist either have an agenda... or are incredibly dense. Neither of which is good in media.


Exactly. I didn't want to get into all the details, but glad you did. In addition to what you state above, a few people went through the hassle of documenting the actual history of the property in terms of taxes, sale values, and MLS listings. It is SUPER CLEAR to anyone wanting to get to the truth that the story is BS. But, of course, people react emotionally, instead of rationally, and this story is now being used by those who want to oppose the reval at any cost.

What is the expression for that? Oh, yeah: feels before reals!

Posted on: 3/21 22:30
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Re: Jersey City mayor-elect orders end to citywide reval
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bodhipooh wrote:
That article is being bandied about on the NextDoor site. The article is poorly written in that critical facts were left out of the narrative. Before getting all riled up, look at the facts. The taxes did not rise 111% because of the appraisal errors. The guy is looking for sympathy based on half truths.


What is incredibly frustrating is how the reporter absolutely sticks by her misreporting despite multiple comments stating that this story is bullcrap. She keeps insisting that the owner was bamboozled because of an incorrect bathroom/bedroom count--however, multiple people have sourced the original MLS sheet showing 6 bedrooms as well as the owner's OWN for rent listing showing 6 bedrooms. She completely ignores his purchase price. I would bet good money that the house is not 1500 sq ft as he claimed, anyone with eyes can see that. Several comments have calculated square foot based on Google Earth/dug up property records that show around 2600 sq ft. I could go on and on.

The article and journalist either have an agenda... or are incredibly dense. Neither of which is good in media.

Posted on: 3/21 21:43
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My experience with appraisals is that they're bullshit from top to bottom. I was trying to refi and had banks do 2 different appraisals. I held the tape measure for 1 guy. His gross sq footage came out 20% under. The other guys was 15% under. I could see the bogus measurements in the drawings. A rowhouse with a 1 floor extension is easy, it's 2 boxes. The banks said tough shit, that's what it's worth.

What they apparently do is decide what the number should be and then fudge using the measurements and subjective numbers like GRM to make it come out. One appraisal even had the 3 methods, comp, replacement and rent, all come out within a couple of thousand of each other. What do suppose the odds were?

Now take that process, and for the reval make it even faster and shittier. Should be fun.

Posted on: 3/21 20:12
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Re: Jersey City mayor-elect orders end to citywide reval
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That article is being bandied about on the NextDoor site. The article is poorly written in that critical facts were left out of the narrative. Before getting all riled up, look at the facts. The taxes did not rise 111% because of the appraisal errors. The guy is looking for sympathy based on half truths.

Posted on: 3/21 17:35
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Reading the article, he is tackling the problem in an ineffectual, time wasting manner.

One should:

1) make sure your taxes are paid in full, even as bad as the assessment/billing is

2) file an appeal directly with the *County* Board of Taxation.

3) do so before the April 1st deadline.

Unlike him, you notably cut the municipality and its tax assessor out of the loop. This is all covered by statute (NJSA 54:3). Hire a lawyer, already, Phil O.

If you do not like the County Board of Taxation's assessment, then you can appeal to the NJ State Tax Court.

Here's the nice part. When you win your appeal, the municipality refunds your tax overpayment, plus pays an additional 5% interest to you. Tax appeal refunds put a hurt into the muni budget; the town will take notice and direct its attention to its tax assessor or reval firm or both.







Posted on: 3/21 16:58
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Re: Jersey City mayor-elect orders end to citywide reval
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ecoindie wrote:
http://www.nj.com/business/index.ssf/ ... ble_after_phantom_15.html

Appraisal Systems (Fulop hired for Reval) caused Maplewood property owner's property taxes to rise 111 percent from $7,100 to $15,000 in 18 months with bogus claims of non existent improvements and features.


And that property owner is a former Fulop aide who, last I know, worked at the JCRA.

Posted on: 3/21 16:29
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http://www.nj.com/business/index.ssf/ ... ble_after_phantom_15.html

Appraisal Systems (Fulop hired for Reval) caused Maplewood property owner's property taxes to rise 111 percent from $7,100 to $15,000 in 18 months with bogus claims of non existent improvements and features.

Posted on: 3/21 15:11
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Re: Jersey City mayor-elect orders end to citywide reval
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hero69 wrote:
maybe its time that fulop put together a plan for a graduated phase-out of abatements in jersey city?


He already said (as councilman) that he'd do that if elected . . .

Cute one.

Posted on: 3/16 21:19
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maybe its time that fulop put together a plan for a graduated phase-out of abatements in jersey city?


He already said (as councilman) that he'd do that if elected . . .

Posted on: 3/16 18:36
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maybe its time that fulop put together a plan for a graduated phase-out of abatements in jersey city?

Posted on: 3/16 18:01
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Re: Jersey City mayor-elect orders end to citywide reval
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Posted on: 3/16 13:39
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Re: Jersey City mayor-elect orders end to citywide reval
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how much do those bayonne boxes costs.i would think that for just a bit more money, one could produce a much nicer building that would hold its value longer over time and get good rents.


I wish I knew more about the numbers, but clearly from patterns in DTJC and in Hoboken, there's a tipping point where values and demographics dictate nicer buildings. No one has built a BB DT in a long time, though there's a number of them on Marin. And it's clearly not just that most of lo-rise DT is Historic. So higher values appear to be the only thing that can save JC from the Bayonne Box.

Posted on: 3/9 23:31
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those bayonne boxes are not cheap, i'm surprised.


But they're tremendously profitable. Trench poured foundation, off the shelf plan, and cheap materials. That's why they can pay so much for 50x100 teardown lots.

Fulop's mailing is so nauseating in it's self righteous "it wasn't us, they made us do it". I wish we had better, but the snakepit that is JC politics weeds out the all but the hopelessly idealistic and the players of games. People in a position to know told me well before he was mayor that Fulop was not the choirboy he seemed, but I didn't listen.
how much do those bayonne boxes costs.i would think that for just a bit more money, one could produce a much nicer building that would hold its value longer over time and get good rents.

Posted on: 3/9 20:24
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those bayonne boxes are not cheap, i'm surprised.


But they're tremendously profitable. Trench poured foundation, off the shelf plan, and cheap materials. That's why they can pay so much for 50x100 teardown lots.

Fulop's mailing is so nauseating in it's self righteous "it wasn't us, they made us do it". I wish we had better, but the snakepit that is JC politics weeds out the all but the hopelessly idealistic and the players of games. People in a position to know told me well before he was mayor that Fulop was not the choirboy he seemed, but I didn't listen.

Posted on: 3/9 20:16
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