New Jersey's property tax **PIC**

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Zebo

Elite Member
Jul 29, 2001
39,398
19
81
I cant tell exactly how many sqft that house is but around here, that house would EASILY clear 2 million and clear 22K/yr in property taxes. Fuck you california.

Where you live Slew? There is no way that cracker box track home is worth 2 million even in Ca. To build it's about $250, so you're basically saying land is worth 1.75 million? In a subdivision?
 

TridenT

Lifer
Sep 4, 2006
16,800
45
91
Alright guys, it's time for a good old boycott! STOP PAYING YOUR PROPERTY TAXES NOW! IF everyone stops paying then the local government will go bankrupt and THAT WILL TEACH 'EM TO EVER FUCK WITH YOU!
 

TridenT

Lifer
Sep 4, 2006
16,800
45
91
Where you live Slew? There is no way that cracker box track home is worth 2 million even in Ca. To build it's about $250, so you're basically saying land is worth 1.75 million? In a subdivision?

He's probably talking about in the heart of LA, SF, or SD.
 

rockyct

Diamond Member
Jun 23, 2001
6,656
32
91
Alright guys, it's time for a good old boycott! STOP PAYING YOUR PROPERTY TAXES NOW! IF everyone stops paying then the local government will go bankrupt and THAT WILL TEACH 'EM TO EVER FUCK WITH YOU!
I know you're basically a kid...but still...
 

Slew Foot

Lifer
Sep 22, 2005
12,379
96
86
Where you live Slew? There is no way that cracker box track home is worth 2 million even in Ca. To build it's about $250, so you're basically saying land is worth 1.75 million? In a subdivision?

Nicer areas of the south bay (parts of San Jose, loas altos, saratoga, etc..)

Land is stupid expensive, 3/4 of an acre lot on its own is 1-1.5 million, and cost to construct is ridiculous with the inflated wages, materials cost, and regulations you have to deal with.

We're looking for a 3000-3500 sqft place on about 1/4 acre. Trying to go under 1.2 million, but not finding a whole lot. Obama's cash handout resulted in about a 20% price gain in the last 6 months.
 

TridenT

Lifer
Sep 4, 2006
16,800
45
91
Nicer areas of the south bay (parts of San Jose, loas altos, saratoga, etc..)

Land is stupid expensive, 3/4 of an acre lot on its own is 1-1.5 million, and cost to construct is ridiculous with the inflated wages, materials cost, and regulations you have to deal with.

We're looking for a 3000-3500 sqft place on about 1/4 acre. Trying to go under 1.2 million, but not finding a whole lot. Obama's cash handout resulted in about a 20% price gain in the last 6 months.

What kind of job do you have that allows you to purchase a $1,000,000+ home?!

I really don't get how anyone buys homes for that much unless they're just gushing in the cash.
 

Slew Foot

Lifer
Sep 22, 2005
12,379
96
86
What kind of job do you have that allows you to purchase a $1,000,000+ home?!

I really don't get how anyone buys homes for that much unless they're just gushing in the cash.

Wife and I are both doctors. What I dont get is how all these million dollar plus homes in the area all sell in a month or so. Where the heck all these people doing to get piles of cash from is beyond me.
 

Slew Foot

Lifer
Sep 22, 2005
12,379
96
86
Insurance premiums that specialty is astronomical, right?

The one major benefit to medicine in CA is that malpractice damages are capped so insurance isnt terrible. Unless youre actively killing people, premiums for a general Anesthesiologist run 7-30K, depending on your case load.
 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
Nicer areas of the south bay (parts of San Jose, loas altos, saratoga, etc..)

Land is stupid expensive, 3/4 of an acre lot on its own is 1-1.5 million, and cost to construct is ridiculous with the inflated wages, materials cost, and regulations you have to deal with.

We're looking for a 3000-3500 sqft place on about 1/4 acre. Trying to go under 1.2 million, but not finding a whole lot. Obama's cash handout resulted in about a 20% price gain in the last 6 months.

Pretty crazy. I saw it going that direction right after 91-92... You could literally buy a house for $150-$250K in nicer areas socal, then four years later $750K was minimum.
 

AdamK47

Lifer
Oct 9, 1999
15,665
3,525
136
Nicer areas of the south bay (parts of San Jose, loas altos, saratoga, etc..)

Land is stupid expensive, 3/4 of an acre lot on its own is 1-1.5 million, and cost to construct is ridiculous with the inflated wages, materials cost, and regulations you have to deal with.

We're looking for a 3000-3500 sqft place on about 1/4 acre. Trying to go under 1.2 million, but not finding a whole lot. Obama's cash handout resulted in about a 20% price gain in the last 6 months.

How many kids do you have or will you have that requires 3000-3500 square feet?
 

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
How many kids do you have or will you have that requires 3000-3500 square feet?

Dude it's not sqft it's land there. You can give sqft by stacking at only $100-$150 sqft (on the high side). Land is the killer from what he says.
 

rh71

No Lifer
Aug 28, 2001
52,844
1,049
126
Really doesn't matter if the house is actually worth more....even at 600k, or even if it's worth a million, there shouldn't be 18k of property tax. That is simply ridiculous.

Wonder what kind of "government services" the people there get for that rate?

We get plenty of those in the 12k-20k taxed homes here in Nassau County. It's a function of tax rate * assessed value. A 3000sq ft home assessed at $700k will be taxed $20k (have one of those a few houses down). We are in the process of buying a $430k ranch to build up.. current taxes are $12k and going up to $16-$18k after it's done - just about 2600sq ft on a 60x100 lot. It's really because of the schools... the tax rates are way up because of them... $10k+ for school taxes alone. People call them "property taxes" but it's really school & property together. Did I mention cops and school teachers make 6 figures? It's really ridiculous and everybody complains but cannot do anything about it unless there is significant reform, but that would affect quality of life too.

I don't know how high NJ ranks in cost to live but here is within the top 2% of the country. If I weren't born here or practically every friend and family were here, we'd look for cheaper places to live, but this is all we know. Tons of people have relocated to NC or FL but you don't have the same dynamics within a small distance, not even close.
 
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AdamK47

Lifer
Oct 9, 1999
15,665
3,525
136
Dude it's not sqft it's land there. You can give sqft by stacking at only $100-$150 sqft (on the high side). Land is the killer from what he says.

How many kids does he have or will have that requires 3000-3500 square feet?
 

Chaotic42

Lifer
Jun 15, 2001
34,484
1,664
126
You're right, you're not an economist. Property taxes generally go to pay for services and while some might be at the state level often the majority is at the local level. That means the city or town roads, schools, parks, police and fire, etc. They don't give you an option to pay those because by just existing in the city you benefit from them.

1. Police: How can you pay "for use" on police? You benefit by them bringing down crime in the general area, you can't effectively fight crime on a house by house basis.
2. Fire: Again, you can't effectively protect people from fire on a house by house basis unless the houses are out in the boonies. In a city or suburb if one house goes up it can start secondary fires around it so the fire department has to show up to stop a widespread fire. Even if your house isn't the one burning you get a benefit when they put out the fire and keep it from spreading.
3. Roads: Even if you don't drive that stuff that's in the store definitely came there on a road.
4. Schools: People paid for you to go to school if you went to public school, now it's your turn to pay for the next generation to go to school. Also, from a purely selfish standpoint I want kids to go to school because at least then there is a better chance they won't end up as a leach on welfare or even just spending their days being idiot kids and causing trouble.

I'm not really sure why you felt the need to explain what roads, schools, police, and fire departments are for. I can't imagine that I came across as being that stupid.

Why could there not be a local sales tax plus a local income tax that takes in the same amount of money as property taxes? It's not about not paying for these things, it's about shifting how it's paid.

I'd even be fine with removing the government's ability to sieze your house for failure to pay. That's my only sticking point with property taxes.
 

Jumpem

Lifer
Sep 21, 2000
10,757
3
81
Why could there not be a local sales tax plus a local income tax that takes in the same amount of money as property taxes? It's not about not paying for these things, it's about shifting how it's paid.

We have 8%+ sales tax, 3.5-4% property taxes, and 6.85% income tax. I hate NY.
 

TridenT

Lifer
Sep 4, 2006
16,800
45
91
I'm not really sure why you felt the need to explain what roads, schools, police, and fire departments are for. I can't imagine that I came across as being that stupid.

Why could there not be a local sales tax plus a local income tax that takes in the same amount of money as property taxes? It's not about not paying for these things, it's about shifting how it's paid.

I'd even be fine with removing the government's ability to sieze your house for failure to pay. That's my only sticking point with property taxes.

Because you are.

The reason that shouldn't be done is because that would fuck over the poor hellishly. Sales taxes are regressive, not flat. Their percentage is flat when done at the counter, but the amount shelled out in percentages of income to each tax payer is regressive. They affect the poor more than they do the rich.

:facepalmsohard:
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
NY has around the highest taxes in the country based on property value and that house would cost about $8k in property taxes here. I therefore think that the $18k is either very, very unusual or factually wrong. Any other link?

I'm going to say that unless another link shows a $275k house in NJ can actually run $18k in taxes that the numbers are incorrect.
 

Capt Caveman

Lifer
Jan 30, 2005
34,543
651
126
I'm not really sure why you felt the need to explain what roads, schools, police, and fire departments are for. I can't imagine that I came across as being that stupid.

Why could there not be a local sales tax plus a local income tax that takes in the same amount of money as property taxes? It's not about not paying for these things, it's about shifting how it's paid.

I'd even be fine with removing the government's ability to sieze your house for failure to pay. That's my only sticking point with property taxes.

Yet, you still don't get it. Local sales tax? Not all towns have a plentiful number of stores or have any kind of commercial base to generate revenue. It's one's individual choice to live in a town/city based on the services and property taxes. If I want my kids to go to great school system, I'll move to a town which has one knowing that the property taxes are higher. Or I can stay where I am and either send them to a poorer school system or pay to send them to private school.

Local income tax? You'd be happy with a 20% plus local income tax? What happens if I work in another town, does that town charge me a local income tax too?

You have yet to find a fairer means of a town/city to pay for local services than property tax.
 
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