Property Q&A in Roselle>Question Details

bch208, Home Buyer in Roselle, NJ

What are the current year's property tax on this property?

Asked by bch208, Roselle, NJ Tue Oct 4, 2011

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This question is about this property: http://www.trulia.com/property/3063525104-216-Drake-Ave-Rose…

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Answers

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Hi Jspellen (good morning) – Unfortunately the taxes do tend to be a bit high in Roselle. But generally speaking, in NJ taxes can be pretty high with the exception of maybe a handful of towns (at least up here in north Jersey). And yes depending on the price a home’s taxes can be higher than the mortgage payment. Often that happens when the home is undervalued because it needs work. And because of the poor condition the house is in the taxes should be cheaper. But many times the taxes are a spill over from when the market values were higher. Now the house is in foreclosure from the market fallout and the taxes are the same. And (understandably) the last thing a homeowner in foreclosure is thinking about is a tax appeal.

There are some towns, however, with lower taxes such as Rahway and Linden. Let me know if you have any questions about anything.

Ibrahim
0 votes Thank Flag Link Wed Feb 15, 2012
Ibrahim, are you serious about the taxes? What the percentage in that town? Is it possible for the taxes to be higher than the mortgage amount on a property?

Great questions and thanks for the information!
0 votes Thank Flag Link Tue Feb 14, 2012
It's $7154/year according to the listing. However, as of 9/26/11 it's under attorney review which means the seller accepted an offer and the attorneys are working out the details.

If you're interested in seeing the property and making a back up offer or you would like to see similiar properties available on the market, feel free to contact me.

Ibrahim S. Hughes
EXIT Queen's Realty
Realtor Associate
4 Bloomfield Avenue
Bloomfield, NJ 07003
Tel: (908) 578-1981
Fax:(908) 320-7997
Email: ihughes1970@gmail.com
0 votes Thank Flag Link Tue Oct 4, 2011
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