Lowering Your Hoboken Property Tax: What It Means

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Lowering Your Hoboken Property Tax: What It Means.

So you want to lower your Hoboken property taxes via tax appeal. Great. What it means:

Less money to the city of Hoboken. A direct correlation. Perhaps the city raises taxes on everyone next year to amke up the shortfall. We are not talking nickel and dimes here. It is estimated that one building in Hoboken saved almost $170,000 in tax reductions last year. And the building is aggressivly going after another round this year. As Dorothy from Kansas would say: “Oh My”.

Think about it. One company handled over 1,400 successful appeals lat year. Even is the average reduction is $1,000 per year. That’s $1.4MM less to the city from the one company. If the real reduction totals are more liek double that it’s almost $3million in a budget deficit, before the city pays salaries of suspended police officers making $180k per year, no show jobs, Cammarano’s vacation, etc. Three million dollars is a lot of $2000 St. Partick’s day fines. If the city really wants to make money here’s an idea open a city owned portopottty station. $10 to pee. All other $20. I bet Hoboken could make enough money to give all the lifetime appointments to the zoning board a raise.

Ok. enough of my altruism. The Hoboken tax appeal is meant to put your property tax assessment back in line with the market. Basically if your can appeal now, you’ve been overpaying. Or more aptly supplementing old Hoboken, the brownstones, and those connected enough not to get reassessed with renovations. You’re right. my apologies. that never happens. Don’t want to waste your time with a tax appeal. Holding out for a revaluation of the city? Not in your lifetime. Just file the appeal. Not sure how to do it? Here are a couple of sites to begin…

Hoboken Property tax records

Hoboken Tax Appeal Forms

More Important info:

The Hoboken tax appeal is due by April 1.

Assessed value/tax ratio (27.16) =imputed value.

Even if you you had a reduction last year you may qualify this year too.

Contact me for comps.

As a Realtor serving Hoboken for over eight years, I am committed to providing sellers and buyers with the expertise they need for today’s market. By educating you on how to lower your taxes, I not only potentially save you money but better position your home for sale. Lower Taxes= Higher Sales Prices.

Hurry! Tax appeals must be filed by April 1st, 2010.

Other good resources for tax appeal comps and market inforamtion. 1) 2009 Hoboken Real Estate report. Hoboken market breakdowns on one bedroom condos, two bedroom condos, three plus bedroom condos. A list of every condo that sold in Hoboken in 2009! Yep. It’s Free. 2)Real time Hoboken real estate snapshot. Get the latest on what is happening at an address or in a neighborhood. Yep. It’s free too.

Lowering Your Hoboken Property Tax: What It Means.

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