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I was thinking of moving into Flanders and now I hear they're going to do a tax reevaluation next year. The house already has taxes of $14,500!!! Does anyone know anything about this?
I was thinking of moving into Flanders and now I hear they're going to do a tax reevaluation next year. The house already has taxes of $14,500!!! Does anyone know anything about this?
doesn't surprise me - it's required by law every 10 years and they were just starting a revaluation when I moved out in 1997. doesn't necessarily mean your taxes will go up though - we just had this done in my town and 1/3 will stay the same, 1/3 will go up, 1/3 will go down.
Location: Newton, NJ (but my heart is in Tennessee)
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Quote:
Originally Posted by tahiti
doesn't surprise me - it's required by law every 10 years and they were just starting a revaluation when I moved out in 1997. doesn't necessarily mean your taxes will go up though - we just had this done in my town and 1/3 will stay the same, 1/3 will go up, 1/3 will go down.
This is correct. Newton will be going through the same thing next year. One of the members of the town council told me that it is designed to even out the tax base so that taxes are consistent with the actual value of the property. Supposedly it would affect newer homes more.
This is correct. Newton will be going through the same thing next year. One of the members of the town council told me that it is designed to even out the tax base so that taxes are consistent with the actual value of the property. Supposedly it would affect newer homes more.
That's funny because here they are saying it's the older homes who will most likely be hit hardest since their tax increases haven't kept up with values as opposed to newer construction which were valued correctly at the time the house was built. In my personal case, I'm paying thousands more per year than a like house with more land, but older. My house is 7 yrs old. I'll know the outcome in about 6mos - 1 year.
Location: Newton, NJ (but my heart is in Tennessee)
311 posts, read 1,376,527 times
Reputation: 279
Quote:
Originally Posted by tahiti
That's funny because here they are saying it's the older homes who will most likely be hit hardest since their tax increases haven't kept up with values as opposed to newer construction which were valued correctly at the time the house was built. In my personal case, I'm paying thousands more per year than a like house with more land, but older. My house is 7 yrs old. I'll know the outcome in about 6mos - 1 year.
Interesting, perhaps I misunderstood. Good luck, hope you come out on the winning side!
Consider yourself lucky. I live in Orange and we just went through a tax revaluation ourselves....the first one in 42 years.
Property taxes doubled in some cases, making it even harder to sell the home and much of the older population is being forced to move or to foreclose.
The number of for sale signs literally popped up overnight, three on my block alone.
Incidentally, the town itself is going through a renaissance of sorts, although personally I believe its gentrification.
It doesn't hurt that there is a nearby train station that can get you into NYC in under 1/2 hour.
I just bought in so I think I'm going to stick around for a while to see how this thing goes. https://www.city-data.com:3000/forum/...ilies/cool.gif
Consider yourself lucky. I live in Orange and we just went through a tax revaluation ourselves....the first one in 42 years.
Property taxes doubled in some cases, making it even harder to sell the home and much of the older population is being forced to move or to foreclose.
The number of for sale signs literally popped up overnight, three on my block alone.
Incidentally, the town itself is going through a renaissance of sorts, although personally I believe its gentrification.
It doesn't hurt that there is a nearby train station that can get you into NYC in under 1/2 hour.
I just bought in so I think I'm going to stick around for a while to see how this thing goes. https://www.city-data.com:3000/forum/...ilies/cool.gif
Same thing happened in Nutley too - although not that extreme. My friend's went up 30-40%.
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Orange reval
