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Richard, Home Buyer in New Jersey

enter your question...i am in contract to buy a studio i notice on title serch that city tax assessment is

Asked by Richard, New Jersey Mon Aug 18, 2008

higher than i paid by 3000.00 is that a good or bad for me thank you

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You should find out what your taxing district's levy rate is too see how much your taxes are affected by a $3000 difference. I am in Seattle and our levy rates run about $9 per $1000 of value, so it would mean a difference of about $27 in the total tax bill. If you determine that the tax amount is significant you should contact your local assessor for instructions on how to file an appeal. Your best defense for a lower value is the purchase of your condo, but it would be better if you could find a couple more comparable sales supporting the lower value.
0 votes Thank Flag Link Mon Aug 18, 2008
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