NJ Property Taxes - What are Property Taxes used for?

NJ Property Taxes - What are Property Taxes used for?
In this week's video I talk about What Property taxes are used for, how property taxes are calculated, and what can cause your taxes to go up.
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Hello there! My name is Samantha Pearlman and I am a Full-Time Realtor with Keller Williams Elite, Realtors in Metuchen, NJ. I was born and raised in New Jersey and I have such wonderful memories of spending every day on the beach in the summer and making snow forts in the winter. I love this state and want others to love it too!
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[@allymonte7295]

I'm originally from Jersey. Prices are ridiculous. Really. Many people are leaving the state and don't regret it.

[@malcomk]

Not just entire country. Its highest in the whole world

[@SamanthaPearlman]

I haven't done the research for outside the country but it certainly wouldn't surprise me LOL

[@datnohi8612]

what's really messed up there is a state income tax, plus high as property taxes 🤔 but New Jersey is not a big state 🤔 where does all this money go 😂 somethings not adding up here bro

[@Frank41489]

My house was reassessed during the second year of ownership causing the mortgage payment to go up by $850. This is crushing and can’t wait till I get out of NJ.

[@sammyspyridoulias9565]

I have a friend who bought a house in Warren NJ, 1 year later his taxes went up 10k

[@ljman6789]

It pays for For the ridiculous public employee pensions

[@datnohi8612]

they need to be on a 401k plan and being screwed like the rest of us hard working 💪 Americanns

[@guiller2371]

Taxes and property value here really sucks. And this is for 16 years. And honestly, I don't see the value of the services for the money. We only have a primary school. The town rents the service of middle and high school. We also got a small shopping center and a new township building. Other than that, I don't see it. The community has grown in size, meaning there are so many families paying taxes, but there is very little improvements.

[@shoreguyeast]

I have told my TWP. we need the street repaved for years and they have the TWP. engineer drive on my road with 30 inch tires on his new F350 TWP. truck and say it's in great condition. When driving the regular family cars on our street it's all over the road from the pot holes and uneven patches from 39 on going years.

[@user-pg9vw3nu8n]

You should try to take a look at Millville then... Couple years back they hiked up our tax rate 3 times in 1/4. My mom my kids and myself live in a three-bedroom one-bath half a double. She currently pays the most taxes in this block and she owns the property most of it is rentals around us. there's a lady who owns almost quarter of the block behind full House 3 stories driveway big backyard at least 4 bedrooms and 2 baths. And yet our yard is only 22 feet across at the widest point. That house pays less in taxes than my mother. I even told her to ask for a tax assessment the city will not send someone out for it

[@SamanthaPearlman]

Oh gosh! I am so sorry she has such high Taxes! If this is the case, it might be worth her challenging it. When she gets her new tax assessment, have her reach out to Millville tax assessors office and find out what the process and deadline is to challenge her assessment. She has to follow their process and show evidence as to why her taxes are too high when compared to similar properties in her neighborhood. Good luck!

[@blessedwede8091]

U sounds very smart Sammantha

[@SamanthaPearlman]

Thank you so much for watching and for the kind words! Have a wonderful day!

[@118Columbus]

You should talk about why property taxes are so much higher in New Jersey than in North Carolina or Georgia: the main reasons are in New Jersey there is a lot more Medicare for poor people; the public service union employees like teachers and cops get paid a ton new plus pensions and health care; plus, more corruption and fraud in NJ government. NJ is known as one of the most corrupt places in the world - Sopranos territory.

[@shoreguyeast]

most corrupt in the nation!

[@sebastiandangel7580]

We paid 415 k for a 250 yo house. There are no comps. We purchased 26k in equipment and furniture as part of the 415k. We uncovered a number of electrical and foundation issues that our home inspector did not find. The township revaluation was the same year and the township company appraised our house at 266k. They spent 40 minutes at the property collecting data. The township assessor used 414k as the new values over 150k above their appraised value. The township assessor was able to do this by changing the net condition of the property to make the 415k work without ever setting foot on the property or looking at the revaluation data. Is this legal?

[@SamanthaPearlman]

I am sorry you are going through all this. This is a very complicated situation and since I am not a licensed Attorney, I can't give legal advise or say what is or isn't legal. I suggest you reach out to a local Real Estate attorney in your area to get their advice on this matter. Good luck!

[@shoreguyeast]

NO it's not legal! Another example of the corrupt NJ politicians on the property tax subject is my taxes went up 10 percent last year when the LAW is 2.5 percent max. cap. I brought this to every tax office, collector, politician and office and was told to go away and pay my tax!. These NJ politicians are the worst bottom feeders in the US!

[@Drpeppersmigglrr]

I used a VA Loan calculator... it assumed my property tax rate was 1.2% 😒😔

[@SamanthaPearlman]

Those auto calculators online can be horribly misleading, I would always check with the town/city directly and always run numbers with your loan officer for better results. Good luck!

[@MrBCurtis]

It won’t be a subject for long because we are leaving.

[@SamanthaPearlman]

That's exciting!!....and also a very common trend right now. Where are you moving to?

[@BruceLee-xc8ey]

Southpark got nj 100% true. Check it out....haha those southpark boys yup

[@seds94]

Liberals lol