Tax Question for a Rehab

Asked by Mjz157, New York, NY Sat Apr 5, 2014

Hello - we are thinking of purchasing a rehab in Union County, NJ. The tax assessment is currently based on a value close to what we would pay. We expect to then pay about the same amount for the renovations. Could anyone shed light on how/if taxes would be assessed once the work is done? Really appreciate any insight! Thanks!

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Andrew Tisel…, Agent, Clifton, NJ
Sun Apr 6, 2014
Towns do not follow the same guidlines but usually they look at the permit and may come back out to your home for inspections after the work is complete.

Technically they should be looking at similar home sales to see what your home may sell for in similar condition. Some towns just go based on square footage number of bedrooms and bathroom and amenities like central A/C pool etc.
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