New Jersey Property Tax Problems

Discussion in 'Too Hot for Swamp Gas' started by mocgator, Aug 30, 2013.

  1. mocgator
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    mocgator Well-Known Member

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    Could anyone have predicted this? Nahh... just raise taxes... It will all work out...

    http://www.my9nj.com/story/23288092/new-jersey-property-tax-problems

    The mayor of one New Jersey town is actually moving out because he claims he can’t afford to pay the property taxes there.

    Egg Harbor Mayor Sonny McCullough bought his home in 1985 for about $350,000 and according to him, now he is officially taxed out.

    In 2012, Egg Harbor property taxes were increased by 60% making his home now worth $1.1 million and that comes with close to a $35,000 tax bill.

    One Hightstown resident, who is selling their house, said that property taxes are a big factor as to why many people are moving out.

    The woman said, “The property taxes are killing me and nobody is buying because of the taxes in Hightstown, this is the third time we put the house up for sale.”
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  2. northgagator
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    northgagator Well-Known Member

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    Sooner or later we are going to get to a point where people will not be leaving their property to their heirs after they die. Why? Because they will not be able to keep it while they are alive.
  3. gatordowneast
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    gatordowneast Well-Known Member

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    Wow, the NJ tax rate is at 3.5% of the value of the mayor's house. And that is annual. Mayor, come on down to Florida and bring your retirement funds with you!
  4. GT Gator
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    GT Gator Well-Known Member

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    Out of curiosity, I was wondering which Florida county had the highest property tax rate. I guess I shouldn't be surprised that it's Alachua at 2.45%:

    http://www.floridataxwatch.org/resources/pdf/HowCountiesCompare2011.pdf (Beware PDF -- see page 12).

    Of course, Florida has Save our Homes, which would have prevented the situation the mayor faces in the original post.
  5. rivergator
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    rivergator Well-Known Member

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    Story isn't very well done:

    is that supposed to mean values and appraisals went up by 60 percent? Or that tax rate?
  6. wgbgator
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    wgbgator Sub-optimal Poster Premium Member

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    What, a local TV affiliate's website has shoddily written articles? THis seems like an extremely random article.
  7. rivergator
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    rivergator Well-Known Member

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  8. gatordowneast
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    gatordowneast Well-Known Member

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    Also, it depends on what the property appraisers valuation is compared to market. In many areas property is appraised at 60-70% of market value. In others it is more like 90-95%.
  9. gator95
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    gator95 Member

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    All I know is my family owns a beach house in NJ. It's a modest home and their property taxes have risen since 2002 from $6,000 a year to 15,500 a year now. That is insane.
  10. demosthenes
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    demosthenes Well-Known Member

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    Out here property taxes can't increase more than 3% per year so that would never have occurred.
  11. dadx4
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    dadx4 Well-Known Member

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    Tax rate.
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  12. JerseyGator01
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    JerseyGator01 Well-Known Member

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    I would be hard pressed to get what my house is appraised for in today's market, and I live one town over from Princeton in a town called Princeton Junction.

    NJ towns seems to offer a period to context appraisal values, but this is usually just advertised to friends of politicians.

    CORRUPTION RULES!!!!!
  13. brainstorm
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    brainstorm VIP Member

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    Taxes in NJ? High property tax. NJ state income tax. NY state income tax. Just suffocates you.
  14. G8trGr8t
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    G8trGr8t Premium Member

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    look at the gubmnt in Alachua. very liberal voter base , very anti-growth => high taxes
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  15. fastsix
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    fastsix Well-Known Member

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    Liberals are anti-growth?
  16. gatorman_07732
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    gatorman_07732 Well-Known Member

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    Little Egg harbor property taxes are low comparatively to much of NJ
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  17. gregthegator
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    gregthegator Well-Known Member

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    not true...can't raise property values by more than 3%...

    Citrus County just JACKED property tax's by 30%...and special fire tax on TOP of that...
  18. demosthenes
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    demosthenes Well-Known Member

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    I don't know about Florida as I do not live there.

    And yes, your statement applies to Oregon somewhat too but the practical effect is yearly 3% increases. The are prohibitions to any further permanent taxes or increases without a high voter threshold but that doesn't stop taxing districts from asking voters for them or temporary taxes (max of 10 years) or bond taxes for specific issues.
  19. fubar1
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    fubar1 Premium Member

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    This kind of thing is happening all over the U.S. where property taxes are at ridiculous levels. Primarily in urban areas and just outside them.

    The crappy thing for homeowners/condo owners is even if they file for a property tax appeal, and win, they still lose. The various govt entities that get hit with a revenue decrease just lobby the city/county governments to change the multipliers that goes into the calculation.

    The base property value gets reduced when the homeowner appeals, but the various percentage multipliers get upped so the homeowner ends up paying just as much, if not more as before.

    It's a nice slight of hand by the various local governments. No way in heck should any city service suffer a budget reduction or have to become more efficient.

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