Judi Ann Err…, Home Buyer in Ellsworth, ME

property taxes in Glassboro seem pretty low for NJ,it seems to good to be true,does anyone know why?

Asked by Judi Ann Errico, Ellsworth, ME Sat May 25, 2013

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This question was asked from this property: http://www.trulia.com/property/3004021665-4-Autumn-Ridge-Dr-…

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Dear Judi Ann,

I live in Glassboro myself in Chestnut Ridge. The older communities are lower in taxes compared to the newer developments here. http://www.glassboroonline.com is a great website if you want information about the community. When you are ready to start your search I would be more than happy to help you.

Cara Castrataro
Sales Associate
Century 21 Rivera Realty
Office 856.404.9260, ext. 198
Cell 856.896.8078
Email: caracastrataro@gmail.com
Find me on Facebook at http://www.facebook.com/sjrealtorcaraesposito.
0 votes Thank Flag Link Sat Jul 6, 2013
Hi. I see that you were looking at a home in Autumn Ridge. That is an older community in town so its homes would've been assessed their values long ago; this would result in lower taxes than newly assessed homes. Additionally, Glassboro has a lot of high tax ratables in the form of businesses that pay taxes into the town's coffers and that can alleviate some of the tax burden on private citizens' properties. In NJ taxes are figured using a multiplier. The NJ Taxation website explains it as such: "The General Tax Rate is a multiplier for use in determining the amount of tax levied upon each property. It is expressed as $1 per $100 of taxable assessed value. This rate is used to compute the tax bill." So, if a home's assessed value is $150,000 and its multiplier rate is .03758, then it's yearly tax bill is $5,637. This explains how a home in Town A, valued/assessed at $150,000 but with a lower multiplier, could have lower yearly taxes than a similar home in Town B with the same assessed value of $150,000, albeit this is an oversimplification because there are many other factors such as school budget and the like, but you get the gist.
Learn about NJ and Gloucester County tax rates here: http://www.state.nj.us/treasury/taxation/lpt/taxrate.shtml

If you have an interest in relocating to NJ, I would be happy to assist you. I live near Glassboro and I list and sell there and in surrounding Gloucester County towns.

Have a great and safe holiday weekend!

Kim

Kimberly Thomas, Broker-Associate
Brown & Pope Realtors
Voorhees, NJ 08043
856-308-5989\email: kim@kimcanhelp.com
0 votes Thank Flag Link Sat May 25, 2013
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