An Analysis of 2015 Jersey City Property Sales – by Ward

This is a guest post from Jersey City resident and mortgage industry professional Susan Kulakowski.  Susan reached out to me after reading my last post, “Property Revaluation 501: Mapping & Color Coding Jersey City Home Sales by Assessment-Sales Ratio.”  She analyzed the map’s underlying data and provided a ward-specific lens into the upcoming property revaluation. She offered […]

Property Revaluation 501: Mapping & Color Coding Jersey City Home Sales by Assessment-Sales Ratio

This post is part of an ongoing series about property revaluation in Jersey City.   I partnered with CivicJC to create an interactive map to help residents visualize 2015 property sales in Jersey City and their corresponding taxes. Recent property sales are informing because they are used as a proxy for market value when establishing the city’s annual equalization ratio. Click here to […]

Property Revaluation 401: Tax Appeal Math (Chapter 123 Law)

This is part of an ongoing series about property revaluation in Jersey City.  Note: this post presumes an understanding of the equalization ratio, which I previously wrote about in “Property Revaluation 101: the Equalization Ratio.”  With Jersey City officials recently announcing that they would finally move forward with a property revaluation, a common question has emerged: “is my home currently under-assessed, […]

Property Revaluation 301: Estimating Your Post-Revaluation Tax Bill

This is part of an ongoing series about property revaluation in Jersey City.  I’ve been asked by a few people: “How do I estimate what my taxes will be after the city revalues?”  For non-abated homeowners, this is fairly straightforward and based on publicly available tax data. Here’s the formula: Post-Revaluation Tax Bill = Your Property’s Current Market Value * […]

Property Revaluation 201: Quantifying Tax Inequity (A Simple Example)

This is part of an ongoing series about property revaluation in Jersey City.  In my last post, I explained how Jersey City’s low equalization ratio was a cause for revaluation.  The reason: when a city’s equalization ratio is low, its market values have grown out of sync with its assessed values, and that opens the door to potential tax […]

Property Revaluation 101: the Equalization Ratio

This the first post in a series about property revaluation in Jersey City. Jersey City has been growing at a breakneck speed for the past fifteen years.  As a city grows, it is required to stop along the way and revalue its real estate.  This process is termed “revaluation.”  Revaluation is about ensuring that tax assessed values – […]