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Charles Joshua Stallings
  • Wrightstown, NJ
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Question on property taxes - Burlington County

Charles Joshua Stallings
  • Wrightstown, NJ
Posted Oct 5 2017, 03:51
Hi! This is my first post, so I apologize in advance for my ignorance. I do not currently own any properties but I am looking to buy a multi in the near future. I have been using several of the methods of valuation on bigger pockets and have found a few properties that seem to teeter on the edge of being a good deal/good cash flow, except that the taxes are a bit high. My question is about how easy the renegotiation of a tax assessment in Burlington county (and in general) is. For example, I might bee looking at a property with a tax assessment of $280k and the taxes are approx $8k per year, but I if I purchased the property for $200k, how hard is it to use the sale as an example of market value for the property? I know this can also be complicated by income potential as a multi. Sorry for the long question but I wanted to be specific. Thank you in advance for your replies! I appreciate all the knowledge I have gained from this site! Josh

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