| Author | Message | ||
     woodstock Citizen Username: Woodstock Post Number: 1 Registered: 9-2002 |
Does anyone know if South Orange is scheduled anytime in the future (next few years) for a reassessment? Or do you know what the law is in terms of when the town is supposed to do one? Any info would be helpful. | ||
| mrosner Citizen Username: Mrosner Post Number: 90 Registered: 4-2002 |
There are no plans to do a reassesment at this time. | ||
| Nohero Citizen Username: Nohero Post Number: 1015 Registered: 5-2001  |
... and if anybody ever considered it, they'd do well to read the 6201 impassioned posts on the subject of the Maplewood reval ...  | ||
| woodstock Citizen Username: Woodstock Post Number: 4 Registered: 9-2002 |
Nohero, So you don't think that South Orange should ever be reassessed? What of any new homes that are built? Is it appropriate/fair that a house that sells for $400k have taxes more than twice those of a house that sells for $800k?  | ||
| Nohero Citizen Username: Nohero Post Number: 1017 Registered: 5-2001 |
Woodstock - I was just kidding. A substantial portion of the (now) 1017 posts I have made were basically making the same point you are - local government relies on property taxes, and every effort has to be made to make sure the taxes are fairly assessed. And that's the last I'll say on the reval issue, because I've put in more than my fair share of time on it!  | ||
| qquinner Citizen Username: Qquinner Post Number: 24 Registered: 6-2001 |
Just putting in my two cents in favor of a revaluation. I believe the tax assessor in town is in favor of it as well. Just so you know you are not the only one, woodstock!} | ||
| woodstock Citizen Username: Woodstock Post Number: 6 Registered: 9-2002 |
Unfortunately, as much as I might be in favor of a reval, I fear my family might need to move to avoid this mess. If I can get $200k more house for the difference in property taxes, what does South Orange have to offer that towns in Morris County don't? And that "$200k more house" is not a pie in the sky number. I'm currently paying $21,000 in taxes for a house assessed at about $450k. I can get a $650k house in Morris county, pay less in taxes, and still come out ahead. Of course, that would mean living in Morris county, which I'd prefer not to have to do. But this is just insane, especially when a neighbor's house sold for $990k, and their taxes are $11k. | ||
| joso Citizen Username: Joso Post Number: 44 Registered: 5-2001 |
What?. $21K for a house that would sell for $450K. That seems absurd. Is it a new house or has it dramatically dropped in value relative to other properties in town? | ||
| njjoseph Supporter Username: Njjoseph Post Number: 1724 Registered: 5-2001 |
Joso, as you know, assessment at $450K doesn't mean it would sell at that price, especially if the $450K is from 10 years ago. That house might sell for well into 7 digits. | ||
| woodstock Citizen Username: Woodstock Post Number: 10 Registered: 9-2002 |
Joso, I didn't say it would sell for $450k, I said it was assessed at that. My apologies if I gave that impression. Yes, its a new house. It would probably sell for considerably more, but probably close to the mean for houses in the immediate neighborhood. However as I said, my taxes are about twice what others are paying with significantly more valuable property. But I assume you know that the tax rate is about 4.65%. Imagine if the town were reval'ed, and the tax rate dropped to 3% (assuming the value of the town property doubled, and the tax rate were adjusted accordingly). Idealistic, I know. I just gave up the tooth fairy last year. I'm guessing equitable tax burden might have to go this year.  | ||
| woodstock Citizen Username: Woodstock Post Number: 11 Registered: 9-2002 |
NJJoseph, Since my house is relatively new, it was assessed prety close to it's actual value about 3 years ago. So no, it would not sell well into the seven digits. It would definitely sell for more than the assessment, but nowhere near the multiples of most houses in town. | ||
| njjoseph Supporter Username: Njjoseph Post Number: 1725 Registered: 5-2001 |
Woodstock -- thanks! Now I have a question for you: If your house was assessed three years at its market value, what happened to the assessments of the other houses? I would think that ALL houses that were comparable to yours should have a $450K assessment, or yours should have been lowered to be comparable to theirs. For example, if the last assessment was done in 1991, your house should have assessed at 1991's market values. Sounds like an appeal may be in order. | ||
| woodstock Citizen Username: Woodstock Post Number: 12 Registered: 9-2002 |
NJJoseph, Appeals have been done. A neighbor even took the town to court. No relief. The issue is that the assessed value is not objectively unfair. It's only unfair in comparison to every other house in town. The equitable thing to do is reassess the town, but that cost $$$ and political capital. But your suggestion is a good, logical one which means it will likely be soundly denied by the town finance committee. Definitely worth a shot, though. | ||
| njjoseph Supporter Username: Njjoseph Post Number: 1726 Registered: 5-2001 |
I wish you the best, then. If I were in your shoes, I'd keep pursuing this issue until it's resolved. Doesn't NJ state law, which regulates assessments, require that assessments reflect value as of the last reval? For example, say you put in a $50K kitchen that would have cost $25K at the last reval. Your assessment should increase no more than $25K, right? (Assuming no other taxable improvements.) | ||
| woodstock Citizen Username: Woodstock Post Number: 13 Registered: 9-2002 |
See, now you're doing it again. You're using logic in a process that does not take logic into account.  I do not think that NJ law puts any sort of sliding scale to improvements, be they lot improvements or home improvements. However if you add a $50k kitchen to you house, from what I undestand your entire house will be reassessed, rather than just a $50k addition to your assessment. So your new kitchen could end up costing you dearly in new taxes every year. One would think that everything should use the same baseline. But that does not appear to be the way things work. It discourages new construction, which may be either the intended or otherwise appealing reason to continue doing it that way. But it also forces a town's assessent to lurch. Rather than having a smooth change in taxes when a new assessment is performed, we end up with the situation that occured in Maplewood, where no one knew what their assessment might lead to, or whether things were being done equitably or not. | ||
| qquinner Citizen Username: Qquinner Post Number: 26 Registered: 6-2001 |
Woodstock--I think it is possible the taxes on your neighbor's house will go up based on the price paid by the new owner. Houses are not reassessed every time they are sold, but I think they might be if the sale price is above a certain range (ie assessed value times multiplier). 11k sounds out of wack & I wonder if the owner made some improvements that were not permitted. That is what irritates me--is that people come out ahead in this game by not playing by the "rules." | ||
| joso Citizen Username: Joso Post Number: 46 Registered: 5-2001 |
We have a house, circa 1860-70, purchased in 2000 with from what I gather are low taxes. A neighbors house, circa 1970, much smaller with property half the size pays the same or more. I was told that this is because newer houses are taxed at a higher rate (or assesed at a higher relative value) than very old houses. Does anyone know if this is the case, and why that is? | ||
| Jerry Ryan Citizen Username: Gerardryan Post Number: 971 Registered: 5-2001 |
Joso: Everyone is taxed at the same rate, a flat percentage of the assessed value of the home. Everyone's assessed value is a matter of public record. You can find out the assessment, and by simple arithmetic the taxes, of any home in your town by asking your tax assessor. If your assessed value is vastly different from the assessed value of another, similar, house, then you should ask your assessor about appealing your assessment. | ||
| qquinner Citizen Username: Qquinner Post Number: 27 Registered: 6-2001 |
JOSO--It sounds like your property is assessed at a relatively low level. Is it possible that the previous owner did some upgrading/remodeling that was not permitted and therefore not reflected in the assessment. Maybe your house was not updated prior to the previous revaluation in S.O.--I dont remember the date, but I think it is in a previous thread, maybe 10-15 years ago. | ||
| scollins Citizen Username: Scollins Post Number: 17 Registered: 8-2001 |
Mr. Rosner, It appears that plans for the Newark Arena are moving forward with us Essex County taxpayers putting up 15 Million for the project. My question is who will make up the deficit if the facility loses money? On a similar note, with NJPAC and the Papermill operating in the red and the Crossroad Theater going belly up is there concern among the Trustees about the financial viability of SOPAC? Who exactly is paying for SOPAC and how is the financing structured? Will the S.O. taxpaxers be liable for any deficit incurred by SOPAC? |
