Comments on: The Hoboken Open House Interactive Google Map – 11/29 & 11/30 http://hobokenrealestatenews.com/2008/11/28/the-hoboken-open-house-interactive-google-map-1129-1130/ What buyers and sellers need to know about Hoboken condos and real estate. Sat, 12 May 2012 19:15:20 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Lori Turoff http://hobokenrealestatenews.com/2008/11/28/the-hoboken-open-house-interactive-google-map-1129-1130/comment-page-1/#comment-792 Lori Turoff Mon, 01 Dec 2008 18:49:12 +0000 http://hobokenrealestatenews.com/?p=527#comment-792 You're welcome. If you like it, please spread the word. Yes, we have indeed received the new tax bills reflecting the increase. Most listings do NOT reflect the increase as many agents simply have not bothered to go back in and change the number. It's about a 15% increase on the total (old) number you see. Typically, the tax number used on an mls listing is taken from the prior year's tax records. You’re welcome. If you like it, please spread the word.

Yes, we have indeed received the new tax bills reflecting the increase. Most listings do NOT reflect the increase as many agents simply have not bothered to go back in and change the number. It’s about a 15% increase on the total (old) number you see. Typically, the tax number used on an mls listing is taken from the prior year’s tax records.

]]> By: Joe http://hobokenrealestatenews.com/2008/11/28/the-hoboken-open-house-interactive-google-map-1129-1130/comment-page-1/#comment-791 Joe Mon, 01 Dec 2008 05:04:21 +0000 http://hobokenrealestatenews.com/?p=527#comment-791 Hi Lori, Thanks for all the work that you put into maintaining this site. It's really a great tool for people who are following the real estate market in Hoboken. Have homeowners already received bills at the higher tax rates and if so when can we expect to see these figures reflected in listings. Thanks. -Joe Hi Lori,
Thanks for all the work that you put into maintaining this site. It’s really a great tool for people who are following the real estate market in Hoboken.

Have homeowners already received bills at the higher tax rates and if so when can we expect to see these figures reflected in listings.
Thanks.

-Joe

]]> By: Lori Turoff http://hobokenrealestatenews.com/2008/11/28/the-hoboken-open-house-interactive-google-map-1129-1130/comment-page-1/#comment-789 Lori Turoff Mon, 01 Dec 2008 00:15:08 +0000 http://hobokenrealestatenews.com/?p=527#comment-789 Hi Dimitri, If what you mean my new asessments, you are refering to the tax increase that just took place, that increase affected only existing properties that were already on the tax rolls but not brand new construction that has not been sold yet. The taxes on brand new construction or gut renovation properties are calculated using a formula based on the purchase price. So for those particular new units, lower purchase price would mean lower taxes. If you mean the reevaluation that is being discussed but has not been enacted, that would affect all properties in Hoboken, new and old. But since the new properties would have a high tax base to start (since they were based on recent, high sales prices) the reevaluation would mostly affect old units that now pay very low taxes compared to the new units. For example, there are brownstones worth well over $1 million with taxes under $10,000. Their taxes would probably increase. In contrast, a brand new unit selling for $ million, say at Maxwell Place, would have taxes well over $10,000. The idea is to equalize the lower taxes paid on the old properties with the high taxes paid on the new. I hope this answers your question. Hi Dimitri,
If what you mean my new asessments, you are refering to the tax increase that just took place, that increase affected only existing properties that were already on the tax rolls but not brand new construction that has not been sold yet. The taxes on brand new construction or gut renovation properties are calculated using a formula based on the purchase price. So for those particular new units, lower purchase price would mean lower taxes. If you mean the reevaluation that is being discussed but has not been enacted, that would affect all properties in Hoboken, new and old. But since the new properties would have a high tax base to start (since they were based on recent, high sales prices) the reevaluation would mostly affect old units that now pay very low taxes compared to the new units. For example, there are brownstones worth well over $1 million with taxes under $10,000. Their taxes would probably increase. In contrast, a brand new unit selling for $ million, say at Maxwell Place, would have taxes well over $10,000. The idea is to equalize the lower taxes paid on the old properties with the high taxes paid on the new. I hope this answers your question.

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