Comments
MarieSkiis OP t1_j9zgrw5 wrote
Thank you. Though it’s not helping that my current property has been reassessed multiple times during the decade that I’ve live in it.
Successful_Pen_2387 t1_j9z47ut wrote
If you ring the city tax office they will tell you what your bill will be.
Blecher_onthe_Hudson t1_j9zwhue wrote
No, that's called a "spot reassessment", and not done here. But don't make the mistake of pre-reval purchasers of undertaxed Downtown properties and think that it's etched in stone. By the current ratio of sales to assessments we're already due for another reval, and your property would be reassessed base on sales comps.
G_Funk_Error t1_ja2wd8y wrote
Help me understand that more. What are all the things that trigger a reval?
nuncio_populi t1_ja2xonn wrote
They’re generally supposed to be done every five years in most municipalities to ensure the tax burden is shared equitably.
Our last one was about five years ago but, as you know, that particular reassessment was extremely overdue and Fulop tried to delay it further to protect Dixon Leasing.
Blecher_onthe_Hudson t1_ja3g7vj wrote
I believe it's actually every 10 years or when the ratio gets more than a certain percentage, I think it's like 15% and already past it.
micmaher99 t1_j9zik6t wrote
No but if you're unaware of the property tax increases JC is facing you should do some research and budget for taxes to increase $100-$200/month in the next few years.
Cuprunnethover2022 t1_ja0x9f8 wrote
At least. They just approved a gigantic charter school complex for Bergen Lafayette. That's going to cost a holy fortune, and charter schools use public school money.
Pr3fix t1_j9yyqj3 wrote
Where are you finding condos for 600k? 👀
burrito__supreme t1_j9z22ox wrote
plenty of them outside downtown
Yin-Hei t1_j9z7uve wrote
Unless it's abated, generally no
fulanita_de_tal t1_j9yzasy wrote
Assessed values for property taxes are completely independent of sale price and mortgage appraisal.