Taxes are based on assessed value, which includes the land and the home, size of the home, number of bedrooms, baths, square footage of the home, additional amenities such as decks and pools. I can look up the property for you and discuss this further as it also depends upon what the assessed value currently is for this home. Nowood is one of the towns in which I work on a regular basis and specialize.
As I am a very experienced real estate agent, I would be happy to help you with this or any other property in Norwood or any other town.
Please contact me at any time. Thanks.
Harriet Lewis-Trulia Top Recommended Agent (201)467-5738
If you may need any assistance with finding a home, feel free to contact me directly as I am able to help....
.Back in 2007 it sold for more than $2m and at that time the taxable value set by the town was nearly $2m. Hence the taxes
The taxes are based on the townwide revaluation and the actual list price has nothing to do with the taxes payable.
Mind you if you were to buy the house at this price you might be able to appeal the taxes to the town and get them reduced.
However towns have gotten wise to the situation regarding foreclosures and are unwilling to take the actual sale price into consideration when resetting taxes.