| Author |
Message |
    
Papa
| | Posted on Sunday, January 14, 2001 - 8:49 pm: |     |
This is a real problem for the town farthers,because,as in my situation I have a house that is not in the best curb appeal situation,If my taxes go to the rate I have been told by the town,my house will be unsaleable until I lower the price to about one half of that rate because,the monthly payment for taxes will put it out of the market .The tax on the house comes every month but the price of the house can be spreed over 20 or 30 years, So what I am saying is that the buyer has to be able to afford the taxes frist, then the cost of the house |
Jur050
| | Posted on Sunday, January 14, 2001 - 10:38 pm: | |
Papa, I understand your plight. You are not alone. I intend to be at Town Hall 8:00pm Tuesday night, and I suspect that there will be others. This proposed tax adjustment is unfair! I am confident that some compromise can be worked out! I'll see you there Tuesday. |
Bak
| | Posted on Monday, January 15, 2001 - 11:45 am: | |
That was my husband and my argument that the day after the tax increase goes into effect, my home is then worth 100K less than it was valued.
Do we then go and have the number changed and reduce the taxes?
Home buyers buy as much house as they can afford, whatever the pricipal, interest and taxes add-up to on a monthly, cash-flow basis. My home immediately loses 25% of its value.
The same thing happened in Montclair in that there are many beautiful homes for sales for around 300K (very low for these homes) that carry 20K in taxes that sit unsold. All of Maplewood will be affected by an unbalanced revaluation. |
Nova87
| | Posted on Monday, January 15, 2001 - 12:22 pm: | |
Stupid question as a first time home owner. We purchase our house in July '99 pd just under 265K, the reval came in at 301K. Used to pay approx. 7200 in tax. How do I find out how much my taxes will increase?
Thanks, |
Lseltzer
| | Posted on Monday, January 15, 2001 - 12:25 pm: | |
Nova87: it should be directly proportional to the increase in assessment, therefore just under $1000/year. |
Eliz
| | Posted on Monday, January 15, 2001 - 12:50 pm: | |
Nova87 - Using the current unofficial rate you multiply 301k by 2.66% and your taxes would be 8006.00 |
Nova87
| | Posted on Tuesday, January 16, 2001 - 8:57 am: | |
Thank you both. |
Eliz
| | Posted on Tuesday, January 16, 2001 - 9:39 am: | |
By the way Nova87 if I were you I would appeal - if you paid 265K in July I don't think it's reasonable that your house a few months later appreciated 26K. |
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