Property Taxes

New Jersey and New York Have the Highest Property Tax Bills – and the Numbers are Off the Charts

It will come as no surprise to most NJ and NY homeowners that New Jersey and New York have the highest property taxes in the country.  This data comes from the Tax Foundation after analysis of data from the U.S. Census Bureau.  The Tax Foundation analyzes and compares the county data.  Included are taxes levied by school districts and other [...]

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New Jersey Property Taxes: Why Must I Pay My Arm AND My Leg?

New Jersey property taxes are a big monster in local communities that is preying on homeowners.  Local governments and schools in New Jersey collected $23 billion in taxes last year from property owners.  New Jersey’s 2008 median real estate tax bill was $6,320 (as estimated by the 2008 American Community Survey). Why are they so high?  [...]

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Was a Reverse Mortgage the Right Decision?

Question:  My husband and I thought a reverse mortgage was the greatest thing for us, as he was retired and we owned our home. Seven months later, he died and I borrowed on the house for funerals (I prepaid mine also), credit card debt we carried, loans we had, house repairs and what have you. [...]

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Property Tax Appeals Rising Rapidly in New Jersey

As real estate values have declined, a large number of New Jersey homeowners and business owners are trying to lower their property taxes.  State offices are flooded with appeals. This is a catch-22 for many municipalities who we know rely on this tax revenue to provide public services.  It seems these tax appeals will only [...]

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