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cmontyburns
Citizen
Username: Cmontyburns
Post Number: 1720
Registered: 12-2003
| | Posted on Tuesday, January 31, 2006 - 12:35 pm: | 
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The current system punishes you for improving your house (and thus improving your neighborhood). But I certainly don't expect the system to change anytime soon. |
Two Senses
Citizen
Username: Twosense
Post Number: 409
Registered: 7-2004
| | Posted on Tuesday, January 31, 2006 - 1:47 pm: |
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mrosner: Wasn't S.O.'s mass reassessment/revaluation intentionally delayed by the VA and BoT past NJ's mandated 10-year requirement to ensure that all of the Village's new developments be included in the total ratables calculation -- theoretically alleviating some of the burden on existing property owners?
In view of the stalled status of these projects and exclusion of these slated property improvements from a mass revaluation, will their owners' future tax payments (whatever year that might be) likely be used to reduce existing property taxes or simply increase government spending at that time? |
mrosner
Citizen
Username: Mrosner
Post Number: 2528
Registered: 4-2002
| | Posted on Tuesday, January 31, 2006 - 2:35 pm: |
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Two Senses: It would seem every town in Essex county tries to delay the reval process as long as possible. However, an argument was made to delay one extra year with the hope new market and beifus would be completed.
If the process was not so costly ($500,000+), it would make more sense to do a reval more frequently and certainly no more than every ten years.
I can't predict what the BOT /VP will do with future tax payments. Personally, I would prefer to stabalize the property taxes (I don't think a reduction is ever likely) and keep the increases as low as possible (less than 3%).
Every year there are certain increases to the budget that are somewhat out of our control (insurance, energy costs, salary increases and next year we start paying for the reval). This year, those increases will be about $1,000,000.
So, the question is - do we want to maintain services, cut services, or add services. I have seen many posts on MOL stating we should increase the number of police, have more frequent leaf pick-ups (more employees and equipment), more frequent repaving of roads, etc. Right now the average home pays about $275/month for the municipal portion of the tax bill. The rest of the property taxes go to the schools and the county. |
argon_smythe
Citizen
Username: Argon_smythe
Post Number: 753
Registered: 5-2001
| | Posted on Tuesday, January 31, 2006 - 3:28 pm: |
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Probably the thing to do is outsource police, leaf collection, repaving of roads, etc to India, we could save a bundle!
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Bob K
Supporter
Username: Bobk
Post Number: 10486
Registered: 5-2001
| | Posted on Tuesday, January 31, 2006 - 3:43 pm: |
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Two Senses, it is extremely rare for a town to do a reval without being ordered to do so by the county tax board. Maplewood is one of the few towns that did this voluntarily.
A reval is revenue neutral. It doesn't increase the total amount of taxes for the town, just redistributes how much each homeowner pays. New Construction is just added on to the total assessment of the town and everyones tax rate is a little lower than it would be without the new construction.
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Allan J Rosen
Citizen
Username: Allanrosen
Post Number: 170
Registered: 4-2003
| | Posted on Tuesday, January 31, 2006 - 5:51 pm: |
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The delayed projects will not affect the revaluation anyway since the agreed-upon PILOTs dictate how much money comes annually to the Village. New Market and Beifus when (if) they come on totally will afford the municipality with just short of a million dollars annually. That money will (should) be used to lower taxes over what they would have been without them. for example, if salaries go up approx $600,000. annually and if there are no other increases, then the municipal tax that year would be decreased by $400,000. I would not expect any contribution from those projects before 2008. |
jayjay
Citizen
Username: Jayjayp
Post Number: 369
Registered: 6-2005
| | Posted on Tuesday, January 31, 2006 - 6:33 pm: |
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Why doesn't the 30 year PILOT (which is an inordinately long time) get reduced in time by the number of years of delay for these projects? ( I would actually prefer the Beifus PILOT be done away with entirely and have this project pay its proper share of taxes. I would hope that the village should has cause for nulifying the agreement since they have missed deadlines beyond all reason.) |
Pdg
Citizen
Username: Pdg
Post Number: 363
Registered: 5-2004
| | Posted on Tuesday, January 31, 2006 - 8:33 pm: |
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Another helpful link, thanks DRJ.
Wow. Manchester Township seems to be really on the ball! They are impressively proactive about alerting residents about revaluation facts and timing -- aren't they on the same mandated deadline as South Orange?
Their mayor seems pleased with technology and it's ability to offer his constituents a fast and clear source of information via their website.
Quote:We hope you’ll find our website helpful and informative. If there are ways we can improve it, please let us know. We want it to serve you in a way that will simplify your life.
Looks like a nice, little retirement community is blowing S. Orange out of the water!
PS. Their town hall looks great, too.
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bets
Supporter
Username: Bets
Post Number: 22730
Registered: 6-2001
| | Posted on Tuesday, January 31, 2006 - 10:51 pm: |
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Quote:New Market and Beifus when (if) they come on totally will afford the municipality with just short of a million dollars annually.
If? What a resounding vote of confidence. Mr. Rosen, I ask that you propose an ordinance or resolution immediately retracting the offer currently extended to Beifus and that the BOT begin shopping this to real developers. Let Millennium start small, with this one.
Quote:That money will (should) be used to lower taxes over what they would have been without them. for example, if salaries go up approx $600,000. annually and if there are no other increases...
Like that would ever happen!
Quote:I would not expect any contribution from those projects before 2008.
I beg of you, citizens of the Township of South Orange Village, to pledge that you will not vote for any tickets or candidates endorsed (in public or implied) by Rosen, Taylor, Calabrese, or Rosner in May 2007. Our only hope is a completely fresh outlook.
Mark, though you've tried your best to participate on this board and answer selected questions, I do not think you have what it's going to take to turn this godawful mess around. I think the best thing you could do for this village is to support a completely new slate of trustees in May '07. Thank you for your contributions and service. |
Rastro
Citizen
Username: Rastro
Post Number: 2293
Registered: 5-2004
| | Posted on Wednesday, February 1, 2006 - 11:39 pm: |
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bets, I don't recall Mark publicly (or privately) supporting any slate in any race he was not involved with.
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Pdg
Citizen
Username: Pdg
Post Number: 371
Registered: 5-2004
| | Posted on Thursday, February 2, 2006 - 10:43 am: |
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You're well-appreciated by some of us, MRosner! 
While I agree we'd be best served by replacing our current President and many of the BOT members, you're one I'd vote for again.
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mrosner
Citizen
Username: Mrosner
Post Number: 2532
Registered: 4-2002
| | Posted on Thursday, February 2, 2006 - 11:03 am: |
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PDG: thanks
Rastro: I did support Jeff Dubowy when he ran, but did so only on my blog. |
Stuart0628
Citizen
Username: Stuart0628
Post Number: 206
Registered: 2-2003
| | Posted on Thursday, February 2, 2006 - 12:51 pm: |
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While there may be individual exceptions, for the most part a reval will have an impact only to the extent that one neighborhood has appreciated to a greater extent than another. Based on home sales data, do we have any indicators for which areas of town will be helped or hurt by a revaluation? |
Howard Levison
Citizen
Username: Levisonhw
Post Number: 100
Registered: 1-2004
| | Posted on Friday, February 3, 2006 - 7:27 pm: |
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Take a look at this listing:
http://realestate.nytimes.com/Sales/View_Ulisting.asp?Lid=253-NS6020259&CId=&p=W
$1.3M selling price - taxes $17k/yr
That means it is currently valued at $300k for tax purposes ($600k real). This will be an awakening for someone after the reval. |
Pdg
Citizen
Username: Pdg
Post Number: 382
Registered: 5-2004
| | Posted on Friday, February 3, 2006 - 9:23 pm: |
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Wow, awesome home! Anyone know where it is?
But, yeah, the taxes seem pretty low for South Orange for over an acre, not to mention the huge house! |
Rastro
Citizen
Username: Rastro
Post Number: 2302
Registered: 5-2004
| | Posted on Friday, February 3, 2006 - 10:59 pm: |
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Howard, maybe, maybe not. Remember, it's all relative. If their value has gone up by the same percentage as the average house in town, their taxes will say the same, |
Bob K
Supporter
Username: Bobk
Post Number: 10525
Registered: 5-2001
| | Posted on Saturday, February 4, 2006 - 5:14 am: |
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The house on Scotland Road is listed for approximately what the Pulte townhouses are listed for. The townhouses carry taxes in the 25k to 30k range. |
Rastro
Citizen
Username: Rastro
Post Number: 2305
Registered: 5-2004
| | Posted on Saturday, February 4, 2006 - 4:40 pm: |
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But as new construction, the Pulte homes have higher assessments. Ask Woodstock and the rest of the Jessica Way folks about taxes and new construction... |
Spitz
Supporter
Username: Doublea
Post Number: 1380
Registered: 3-2003
| | Posted on Saturday, February 4, 2006 - 5:09 pm: |
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Here's the deal. The Pulte homes sell for $1million. The current assessment ratio in South Orange is about 50%. Thus the Pulte homes are assessed at $500,000.
The tax rate is $5.80 per $100 assessed value. (I don't have the exact figure since I just sent the tax bill in with my payment Thus the tax on a $1 million Pulte home is $29,000.
I miss Woodstock. |
Spitz
Supporter
Username: Doublea
Post Number: 1381
Registered: 3-2003
| | Posted on Saturday, February 4, 2006 - 5:29 pm: |
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Rastro - To answer your question about the house in Howard's link, it's currently assessed at $300,000. Assume that it's sold for the asking price of $1.3 million. That means that it's current assessment ratio is 23% vs. the average assessment ratio in South Orange of 50%. It's this kind of gigantic disparity in assessed values to market values which is corrected by a revaluation. |
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