This post is meant to help a taxpayer get a jump-start on determining: is my property over-assessed? This post is not intended to cover all nuance that may arise for a particular taxpayer. Nuance abounds, which is why I’ve provided links to the state rules and public data. If you are a homeowner than you...Continue reading
I've got another Revaluation update, this one focused on Neptune Avenue which is an East/West street that stretches pretty much across Jersey City's south Greenville neighborhood. Similar to other Greenville Revaluation-related updates, this is a story of systemic overtaxation that is being fixed with Revaluation. First, some high level details about the data. Appraisal Systems'...Continue reading
March 18 2018. Appraisal Systems released a new batch of assessments on March 16th - the same day Jersey City's public school teachers went on strike. So...this latest update wasn't covered in the news. It should be though; finally, Country Village homes are listed. Per estimates released by Jersey City in December 2017, Country Village...
Updated: Feb 19, 2018. Appraisal Systems today published on its website an updated assessments file with about 1,950 new properties added (note: I won’t be updating this page with every single new release from Appraisal Systems…but I have a property tax workshop tonight at Our Lady of Mercy Church and I wanted to be equipped...Continue reading
Learn how to compute if your property tax expense will go up or down in a citywide revaluation. It’s helpful to have a calculator, pen, and paper on hand while watching this video.
This post is part of my effort to share information about Jersey City’s Property Revaluation. I wrote a Revaluation series last year which you can read here. In a citywide revaluation, your new assessment should equal your market value. When establishing market value of your home, one set of data that can be useful is...Continue reading
Steven Fulop’s press person, Jennifer Morrill, made an egregious error on the record this month when she characterized tax appeals as not being based on sales prices. Tax appeals are, in fact, based explicitly on recent comparable sales prices. Ms. Morrill’s statement was in response to a story about a local resident, April Kuzas, who recently...Continue reading
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...Continue reading
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...Continue reading
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,...Continue reading
This is part of an ongoing series about property revaluation in Jersey City. Please note, an update given new state tax data reported in 2017: the 2016 equalized tax rate is reported to be 1.86%. This is the best predictor of what the new tax rate will be, post-Revaluation. I’ve been asked by a few people: “How...Continue reading
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...Continue reading
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 –...Continue reading