Bronx, NY · Member since 2014 · 17 posts · 0 votes
I'm looking to purchase a house in the New Jersey area with a va loan. However, NJ has the highest property taxes in the country. Does anyone know of any towns or cities in NJ that the taxes aren't extremely high? Any estimates would be greatly appreciated.
@Anthony Smith What part of Jersey are you focasing on? I moved from Mt Holly in Burlington Co (south Jersey) 10 yrs ago for that reason. I had a 1200 sqft ranch built in the 60's on 1/4 acre in a subdivision and the taxes were a bit over 8K. My parents live close to where i moved from and i was told that they are being bumped up to 11K this year for adjustment.
The further north you go the higher the taxes. I have heard of people in the Hamilton area (where you can catch the train to NY) paying upwards of 25K per year. I would find an area and then get a good Realtor. Best of luck to you!
@Anthony Smith In Southern New Jersey (south of Trenton - where I work now), the taxes are a little lower. The closer to NYC the higher they tend to go.
In North Jersey, try Newark, Elizabeth, East Rutherford (like @Anthony Greene mentioned) and parts of Bloomfield.
Thanks David. I should have put more information in my opening message. I buy affordable rental properties for 50,000 and under in upstate NY. There, I pay about 2,000 a year in taxes. I want to use the same strategy in New Jersey. I'm hoping to find a decent house for 100,000 or less in NJ and pay no more than 6,000 a year in taxes. I'm looking to live there for a while and eventually rent it out. Does this sound possible? I also would prefer something closer to NYC.
I was researching NY taxes by county and came across this interactive map for NJ. One thing to consider, you won't find lower property taxes in the tri-state area than in NYC itself
I don't know of any areas off the top of my head. My suggestion is just engage a realtor or two in areas that you are interested in and see what info they can give you.
Fyi. Union county is known for good school districts and relatively low property taxes (while still maintaining somewhat high property values however - so no $100k houses here).
Definitely look at East Rutherford for low taxes. You might get lucky in Lyndhurst as well but by that I mean taxes of around $7k per year. No less than $100k homes in those areas though.
Monmouth county has great properties from 60k-175k for 2-3br, 1-2 ba. Great for flips, B&H, and live, fix and either sell or rents. Close to NYC with plenty of transportation to NYC, NJ Cities and Phil PA. There is an extensive hwy systems, park and ride bus stops, trains and boat ferries. Plenty of Medical Centers and small tech companies are replacing the mega ones that have left the state. My properties avg 4-5k in taxes for 3-4 br / 2 ba properties. Rents avg 1800-2400. I never count on apreciation but i weathered and even prospered during the "bad housing downturn". Stay away from condos/townhome developments as the HOA fees are krazy (imho) and you should be fine with your wish list.
I hate to say it but $100k, low taxes, safe, in northern NJ is kind of impossible. I'm learning to market so I've been doing a log of research. I will suggest looking into Belleville or Bloomfield, maybe Jersey city (up and coming is they call it) if you can up your budget a bit you just might find what you are looking for there. Good luck and if you need me to drive you around or anything just reach out to me
The median property tax in New Jersey is $6,579.00 per year for a home worth the median value of $348,300.00. Counties in New Jersey collect an average of 1.89% of a property's assessed fair market value as property tax per year.
New Jersey has one of the highest average property tax rates in the country, with only states levying higher property taxes.
The exact property tax levied depends on the county in New Jersey the property is located in. Hunterdon County collects the highest property tax in New Jersey, levying an average of $8,523.00(1.91% of median home value) yearly in property taxes, while Cumberland County has the lowest property tax in the state, collecting an average tax of $3,744.00(2.13% of median home value) per year.
For more localized property tax rates, find your county on the property tax map of New Jersey to the left or in the county list below. Jump to county list ?
I can't speak to NJ as that's not my area but I'm interested in where you have invested in "upstate" ny. Where exactly upstate is varies from person to person. Are you talking orange county upstate or Albany upstate?
If you haven't already considered it I would say you might be able to find something that suits your needs in an area like Newburgh NY (my hometown). There is a ferry with direct access to Metro North in Beacon and Beacon is a really hot area right now. Not sure how married you are to the NJ idea but it's a possibility you might want to consider.
I have a 4 bed/2 bath property in Trenton, NJ with property taxes just under $4,100. You could take the train from Trenton to NYC, but then you'd still be living in Trenton.
If you don't mind going into the 250k range there are a few good prospects in Kenilworth with taxes in the 6k range. The area is close to train stations with about a 30 min commute. I just rented a place for a tenant that was looking for the short commute.
properties located within minutes from Joint Base McGuire AFB - Fort Dix - Lakehurst, in the towns of Browns Mills and Pemberton. Near schools and major arteries for easy access to I-295 and NJ Turnpike. Within 1 hour and 15 minutes from New York (NYC), Philadelphia and Delaware.
You ex military? I'm a REALTOR® Certified Military Residential Specialist.
The tax question is easy to assess. The first thing you need to know is the tax rate. This is the number used to calculate the rate times the assessed value. This determines the bill.
Here's the rates for the counties - http://www.state.nj.us/treasury/taxation/lpt/taxra...
Either way, the taxes are generally higher because the school spending is 3 times more then neighboring states.
If you want to use the same strategy, I would recommend Philadelphia because you can purchase a property around that number and your tax bill can be less then $600.
If you need information reach out to me and I'll share a link where you can do you own research.