Home Buying in Mays Landing>Question Details

Lauren Frye, Home Buyer in Mays Landing, NJ

Is there a way to get the traxes lowered on a house that is now being sold as a foreclosure for half the price?

Asked by Lauren Frye, Mays Landing, NJ Fri Jul 13, 2012

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2
Ed Mawhinney’s answer
Lauren,

As Larry stated, you would have to file a tax appeal with the city between Jan. 1 and April 1. The process is very simple and you do not need to hire an attorney, but sometimes that could help.

Just go to the county building in Mayslanding on the 2nd floor to the County Board of Taxation to get all the necessary forms and instructions.

Ed Mawhinney - Mortgage Advisor/Planner
Aurora Financial Group
609-513.-0872
emawhinney@auroralending.com
http://www.EdMawhinney.com
0 votes Thank Flag Link Fri Jul 13, 2012
You will have to justify the market value against other homes sold similar to yours. If you buy it for a $1 and other homes similar are selling for $1,000,000 then your home is valued at $1,000,000 not $1. unless all the homes in the area foreclosures or over 50% are selling in distress, you will not be able to use other distressed values. There is a list of non usable deed transactions in determining value. http://www.state.nj.us/treasury/taxation/pdf/lpt/guidlines33.pdf

There are other factors to adjust value. But you will need to wait until Feb to fight your taxes.

Search Short Sales and foeclosure Deals at http://www.BuyNjShortSales.com

Larry Sarlo
RE/MAX Preferred
609-868-1171
lsarlo@comcast.net
http://www.larrysarlo.com
0 votes Thank Flag Link Fri Jul 13, 2012
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