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Kamesha, Renter in 07017

How are taxes calculated on condos in East Orange-NJ? As in a condo is listed for 60k but taxes are $7400?

Asked by Kamesha, 07017 Thu Jul 5, 2012

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Hi Kamesha,

Unfortunately it doesn't matter if the property is a house or condo, each town including East Orange will base property taxes on a tax rate in which the tax assessor calculates the property taxes.
0 votes Thank Flag Link Fri Jul 6, 2012
You could be looking at a listing of a financially distressed property. The current owner may be paying taxes on $200K+ basis for a property that's listed for $60K. Then again, maybe it's a short sale and the list price is artificially low. It's hard to tell without more info. Have a local real estate broker look into the situation for you.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri Jul 6, 2012
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