Why would property tax be reported as much lower on the listing?
Hi guys and gals!
I'm new to the NJ area and looking to get back into RE buy and hold, current AD coastie. I have a vet realtor who's like minded on the buy and hold strategy. Question that I haven't gotten a lot of clear answers on.
Currently looking at a place in Hudson county selling around $500k 4 unit. The property taxes are listed on the listing at just under $7k for 2017 land $75k additions $25k. What is going on here exactly??? I've done the calculations and even appraising it at $12k (2.234% average property tax for Hudson) still puts me cash flowing but still. I'm just curious. I'm definitely brand new to the property tax world as I was a landlord in Florida where property taxes weren't an issues. Thanks for the help!
Mark