For 2012 Union C itynew construdction is assessed currently at about 64% of it's true market value and then multiplied by a tax rate of $48.37 per $1,000 of that assessed value.
The taxes on a property ASSESSED at $300,000 would be approximately $14,500 , however, if a brand new property were purchased at $300,000 right now the 100% tax number would be approximately $9,300.
Hope this helps.
RE/MAX Villa Realtors
Here are the tax ratio percentages and rates used by all Hudson County communities for 2012.
County District City TaxRate Ratio
WEST NEW YORK
I meant to paste the Hudson County list with the Union City
Here is the correct one: http://www.state.nj.us/treasury/taxation/pdf/lpt/gtr12hud.pdf
Thank you for all the helpful responses.
Is there something different in what you said than what I responded?
To the Buyer....you can use the ratios and rates that I posted below as a guide. Meaning that if you were to purchase a new construction property that was assessed at $300,000, the taxable value would be 64% of that $300k and then multiplied by the rate per $1,000.
Again, please reread what I posted about the percentage of the total that would be due for each of the first 5 years.
Easiest is to ask what the taxes are for a particular property- and remember that you can argue them.
If you would like more help feel free to call me direct.
Anthony F. Curty
2009-2012 NJAR Circle of Excellence
1 Marine View Plaza
Hoboken NJ 07030
NJ taxes are very high and Union City is no slouch. But there are other things to consider in the equation as well. If you work in the city and lived in NJ, you would no longer need to pay city tax ...for now anyway(NYC may change that in the future). You should talk to an accountant for specifics and get an idea about how your year end tax return and no city tax would look.