Pool at Harrah's on a Saturday is 80° inside and a good spot to chill all day in the winter/spring. Go down Friday, nice dinner, drink and pool all day Saturday, then dinner and casino.

I work in commercial real estate. This is not true. Debt service coverage ratios on major commercial real estate never let a borrower pay 100% of the NOI in interest.

Yea, taxes are going up. They've been telling everyone for years taxes are going up. Budget for another $1k-$2k a year in property taxes for another year or two.

The state wanting to hand out money and the amount of bending over backwards they've had to do to get people to sign up is very odd to me. There's got to be a better way to implement this system.

>OP is in residential real estate, not commercial real estate

OP has owned "rentals for decades.". Based on that, plus the fact JC is asking OP for property financials, I'm assuming OP doesn't just own a random condo or two.

4 unit multifamily is really where banks and the industry make the switch in talking about "residential" vs "commercial", but with multi-million dollar companies buying up single family homes to rent them out, that line has gotten blurry. It's really a difference without a distinction for OP.

The city wants accounting info to sharpen their income approach value to ensure the property tax assessment is correct. Yes, real estate that is rented for income pays property taxes, even though the landlord gets taxed on that income.

Cash flow is the main determination of market value for most commercial real estate. For 4 unit multifamily and smaller properties, you usually do a sales approach and an income approach. For single family homes or condos, you do a sales comparison approach, but that reflects that some people will buy these and rent them out.

Cash flow is 100% a great indication of market value.

Short answer is no.

If your property value declines, your taxes might go down. But you don't really want that if you're an owner. If you're over assessed, your taxes might go down if you appeal or in a reval. But for budgeting purposes, expect it to increase 2-3% a year in most of NJ. In JC I'd expect it to go up like $1000/year each year for another year or two, then go back to steady growth.

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.

Can we get news articles and not YouTube?

You can probably get them down to $3600, but yea that ain't cheap.

What type of apartment do you have, where is it, and what is the new rent offer?

Search the sub, this is asked 5x a week for the last year

The Holland tunnel to NJ being closed at night from now till 2025 might make those Uber rides a bit longer FYI.

Gov Murphy signed a law that made min coverage, and therefore rates, increase. It's not only the insurance company raising rates, it's the government.

https://www.bankrate.com/insurance/car/new-car-insurance-laws-in-new-jersey-impacting-drivers/

They've been closing it weekends to test or tweak the system that raises it. Messes up traffic everywhere in the area. It's real annoying haha.

Wittpenn bridge is closed this weekend, that might be why

Probably won't be as bad as last year, but I'd be budgeting another $1k-$2k a year in tax increases for at least the next 2 years.

Increase density in new development. Rezone everything within a mile of a train station as 4-6 story construction with ground floor retail. Spend the money on the capital projects that will make NJ transit more reliable, more frequent, and faster.

New tunnels for passenger vehicles are going to cost $10+ billion and take at least a decade to build. That's not a solution.

Use the Lincoln tunnel? Take public transit? It's annoying, but how else are they going to fix the tunnel?

"Similar New York-bound traffic closures that began in April 2020 will end at 5 a.m. on Feb. 4 as the PANYNJ completes repairs and storm resiliency projects related to Sandy damage in the tunnels’ south tube."

This really isn't that big of a deal, how many ppl even know the other tube has been closed at nights for 3 years?

The scandal was a huge news story, look it up.

Its not the 1950, we don't need drive ins when the regular theaters are going bankrupt

It's 2019 data but all the compensation of all the cops in every town is available.

https://projects.nj.com/paycheck/towns/elmwood_park_borough-bergen/

Are there plans to increase speeds? Will the new train cars allows for faster speeds? What about for between JSQ and Harrison?