In My Neighborhood in 07052>Question Details

Tfr, Home Owner in 07052

can someone explain to me why the property taxes are so high in west orange?

Asked by Tfr, 07052 Thu Sep 29, 2011

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5
Gene Tedesco’s answer
Assessed values also do not reflect what a buyer is going to pay for a home. It is what the town values the house at for tax purposes. You could be assessed $350,000 but if its close to someones mother and nicely updated they could be willing to pay $375,000 for it.

Appraisals, assessed values, and market value are all different.

You are also allowed to appeal your taxes usually in the beginning of each year sometimes it can get your taxes reduced but if they just reassessed the whole town then its highly unlikely they would change anything this year.

Gene Tedesco
0 votes Thank Flag Link Fri Sep 30, 2011
ps

just to be clear - town wide reassessments do NOT necessarily mean lower taxes.
Following a town reassessment, some taxes will stay the same........some increase.......and some will go down.
0 votes Thank Flag Link Thu Sep 29, 2011
West Orange already completed their town wide revaluation this past year, and homeowners were notified of their new assessments, and projected taxes.

The new assessments are already posted.
These new valuations are supposed to equal fair market value. That may, or may not be the case as homes are currently listed at, slightly above or below their assessment.

So...you ask....why are the taxes so high.....(and also high in Maplewood and S. Orange)?
Good question!
There is some trade off though, as you can buy more home for your money there , then in, say, Livingston or Short Hills, where the taxes are less, but homes priced higher...and.....at least (for now, anyway) your property taxes may be a tax deduction for you !
0 votes Thank Flag Link Thu Sep 29, 2011
I heard that West Orange property taxes are about to be reassessed and lowered. You can call the tax assessor's office at 973-325-4060 and ask if they are reassessing now. West Orange properties are priced low I believe to compensate for the high taxes, so if they do lower the taxes, West Orange homes might be a great buy now.

Please visit http://www.RealTerrific.com for great buyer's tips!
Jane
0 votes Thank Flag Link Thu Sep 29, 2011
Property taxes are high in most of essex county. But west orange has paid fire departments, police departments, multiple schools, just to name a few reasons why your taxes are high.

Living in new jersey is not cheap. If you are considering a move feel free to give me a call and discuss a marketing strategy and market analysis all completely free with no obligation.

Good luck,

Gene Tedesco
Re/Max Home Connection
973-575-6005 Office
201-341-0307 Cell
Web Reference: http://www.genetedesco.com
0 votes Thank Flag Link Thu Sep 29, 2011
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