Manchester, NH · Member since 2017 · 1 post · 0 votes
I am considering a move back to Jersey with an eye on both permanent residence and investment. While reviewing tax rates by municipality, I noticed a disparity in rates ranging from 0.5% to 4% right on the beach. Although there are obvious variable that will determine rates, I am wondering: Did Sandy have an impact on current tax rates.. that is, to lower rates in some towns to attract investment? My next step will be to look at historical rates..but hoping that a veteran of the area has the quick answer!
Attorney · NJ · Member since 2016 · 1k+ posts · 794 votes
9y
The rates vary because the ratios vary. If a ratio is very low, they need a higher rate to get from the assessment to the tax amount. Unless the municipal budget still includes cleanup or some sort of infrastructure repair from Sandy, it shouldn't impact the rate.