Hi First,

As a former Belleville resident (born and raised) with friends who have sold off their Belleville real estate mainly for tax reasons, you may want to try Monmounty / Ocean County. With today's economic climate, there is a good deals to be had here and there . . . . but not like it was years ago, when one could securely buy a property with positive return. You may also find that many Belleville, Bloomfiled, Newark residents now live down here in Ocean County.

As for "do taxes go up every year" . . . absolutely . . . as to what percentage . . . .that varies from town to town.. What you need to be more concerned about when in search of a multi-family dwelling for investment purposes is when the township expereinced it last overall township assessment (which usually nets the highest increase). . . . To further explain, it is typical that taxes increases year to year . . . . but, every 10 years or so a township "reassesses" its value and that is when you see the most significant increase that could negatively impact your NOI. Certain towns experience significant increase, others minimal . . .. and unfotunatley, none of us have a crystal ball to be able to tell you what will happen.

Want to know more about Monmouth / Ocean County , give me a buzzz. Heck, who knows we may have even graduated from Belleville High the same year.

Love and Peace,
Francesca, Realtor, ePro
Fraancesca@PatrizioRE.com
732.606.2931 (24/7)

Dear home buyer,

Taxes are relative to the neighborhood, it is a fact that most taxes in the past few years have spiked up. Most towns in NJ were not assessed for many years and where assessed during the RE peak season this drove taxes to all time highs. Assessments are done on the regular basis by the towns, tax rates increased according to presents budgets and the towns public demands for services etc. $14K for taxes is typical of newer homes deemed on property location, public services, and property size. It is up to you the new homeowner to find a value on what you are getting for your buck. If you need help finding homes in Bellville, Bloomfield, Clifton, Passaic, Paterson and neighboring cities let contact me.

Pablo López
Century 21 Elite Realty, LLC.
337 Changebrige RD
Pine Brook, NJ 07058

973.244.7980 Ext 215

Firsttimehomebuyer,

Belleville's taxes are on the higher end. I grew up there and my parents still live there and pay over $6000 on a small 3 bedroom cape with one bath and no basement. Although taxes are not known for going down, I can tell you that Belleville was recently reassessed and thats when many homeowners got a large tax increase. In addition, multi-family homes also having higher taxes than a single family home (in your case...equals $7,000 a floor).

Hope that helps and since you are a first-time homebuyer, act fast to cash in the $8000 tax credit.

Good luck and feel free to contact me directly should you have more questions regarding Belleville or surrounding areas.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-715-1158 cell
973-992-6363 ext 116 office
Gina.Chirico@PrudentialNewJersey.com
http://www.prudentialnewjersey.com/gina.chirico/Blog/Do_you_…
http://www.trulia.com/blog/gina_chirico/2009/08/buying_your_…

Hi,

I saw your post and there are so many ways this question can be answered. Each town has its own tax ratios and yes they do go up each year, but the amount they go up depends on the township.

To say is $14,000 is a lot for a multifamily home also depends. Township, How many units, age of property, when the last time the township was reassessed.

The newer the home depends also on when it was built and also how big it is, the town, and the tax ratios.

I would love to help you out further.

Please call me or e-mail me so that I can get you all the right information and so that you can make the right choices.

Robert C. Stern
Broker/Salesperson
Weichert Realtors
Livingston, NJ
Cell: (201) 618-0975