Home Buying in Flemington>Question Details

Kathy Dermody, Home Buyer in Flemington, NJ

I am purchasing a house for a lot less money than it assessed at, can I have the property taxes reduced? Real

Asked by Kathy Dermody, Flemington, NJ Sat Feb 23, 2008

estate prices have dropped and new homes like mine are sellling for alot less than this house is assessed at.

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Absolutely, and you won't be the only one in line! Once you close go to the tax assessor and appeal your taxes. Hunterdon County assessed properties at the hieght of the market and the township is aware that homes may sell for less. I have had clients successfully appeal in the last few months and always advise my clients to try. Best of luck. Please contact me directly if I can be of further assistance.
0 votes Thank Flag Link Tue Apr 1, 2008
Did you purchase from a builder? We are looking at new construction in the Flemington area, and the list prices still seem quite high (not to mention the taxes, of course!). We're wondering how much we can negotiate with the builders on either a new home or better yet, a spec home that is already standing. You bring up an excellent question regarding the taxes. I would think that you should have no problem having them reduced. Good luck!!
0 votes Thank Flag Link Wed Feb 27, 2008
By all means, as soon as you have closed on your home, take your closing statement to the City Assessor's office. Bring a copy of the data sheet also if you wish. I have had alot of Buyers do this and all of them have had their assessments reduced. Now, I'm not familiar with your area, but it won't cost you anything to at least ask....
What I am seeing is that alot of assessed values are still based on old sales data - some as far back as 2005. The municipalities are looking for the most revenue, so unless you ask, I don't think they will hurry to reduce your assessment....
Good Luck!
Web Reference: http://www.GoPackerUp.com
0 votes Thank Flag Link Sat Feb 23, 2008
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