You can look up any property's taxes on the city site. http://taxes.cityofjerseycity.com/ just put the address in the location box and search.

Q4 alone is twice what it was last year. That's about $1k to $2k increase for an average home/condo in JC. This is after an increase of almost $1k in Q3. So if your rent is $2k a month, and you landlord needs make up the current gap, then 10% is the min increase. However, there is nothing to suggest that there won't be continued increases in the year ahead, so there's an argument for raising rents over 10%. Still, 20% seems like a bigger jump than is likely warranted.

Pretty bad

20% seems high unless the LL is also trying to account for the next tax hike in 2023. But school & city taxes did indeed go up (school in Q3, city in Q4), you can check the taxes site.

My own rental looks like around 11% overall tax increase. I'm expecting to be priced out & move in the next 1-2 years. (I'm not in any sort of "luxury" building, those renters probably have higher increases)

For Q3 we got a 33% raise over Q3 of last year. For Q4 we got an almost 100% raise over last year. And for next Q1 and Q2 we'll be back to 50% over last year.

Then next Q3 and Q4 we'll probably get another huge raise the way people are talking.

We have to raise our tenants, but understand there's a balance, and raising too much may get them to leave. But 20% is a risk, we're thinking maybe a 5% raise, which won't nearly cover the Tax raise of just 1 1/2 quarters (not to mention the leases aren't up until the summer.) Basically we'll have to come out of pocket for nearly 70% of the tax raise, giving a 20% raise though would end up covering the taxes and some (though not taking in to account next Q3 and Q4 raises)

The idea of being priced out in this scenario is a weird notion to me since it implies that other people will be priced in. High earners aren't going to come and pay Manhattan rents in JC because of taxes and people aren't as likely to buy a place with such high taxes. I'm thinking about buying a place next year and was considering JC till I started learning more about the tax situation. Now, it's far removed from the list. If prices were going up because of improvements and market shifts, thats one thing, but this is just poor city management.

It's more likely imo that prices stay about the same while values rapidly decrease. Rents may go up in the short term, but I'd imagine landlords will end eating a lot of the increases for at least a few years.

CPI adjustment + demand increase since covid + tax increase -> rent increase

High enough that he might have to get a real job and not siphon your income to pay his mortgage.

>If prices were going up because of improvements

But look at the bike lanes.

I'm surprised your landlord even gave a reason.

Um thats the point of owning property though.

Word of advice, stop electing union members to the board of Ed. The Tax increases are tied to the absurd raises the the Board of Ed gave the teachers in last round of negotiations . They thought the state would simply increase her aid to cover the increase. The state told jersey city to kick rocks so now you have massive increases.

Good if it goes to teachers.

Without actual numbers, it is hard to tell you if the increase is too much, or justified. But, for sure, taxes have gone up substantially for all homeowners (reval was 2018 and, just 4 years later, the taxes are up just shy of 45%) and the cost of home insurance is up substantially (just read about GEICO and several other insurers filing notices with state regulators announcing substantial increases amounting to over 25%) and then there is the many other increases being charged to homeowners, like increase sewer and water costs.

Anyone renting a house in town should expect substantial rent increases. There is no way a small landlord can absorb those costs and not pass on at least some/most of it to the tenant.

Rent is up almost 100% in 4 years at some buildings

It's really bad, but it's on the property taxes only. So 20% on the entire rent might still be more than required to cover just the taxes.

For math, the apartment I own and live in rents for around $2700. A 20% increase in the rent is about $6500 in extra yearly revenue. The increase in property taxes work out to be around $3000 increase.

So, the landlord made a strategic mistake by giving this as the reason. Because you can now look up the numbers yourself on the JC property website and get back to them saying that the property tax increase is only so-and-so. You'll get a bit of bargaining power.

I thought housing yourself was the point of owning property?

No they fucking aren't. The Q3 taxes were increased by the BOE, the larger increase in Q4 was entirely for the city.

It is actually awful. Our Q4 tax has doubled from the previous year. Absolutely insane and makes me want to move out. It would be one thing if I felt like the money was actually going somewhere.

Calendar year 2021 to 2022: 32% increase

Note that if comparing quarters, Q1 and Q2 decreased by peanuts (a few dollars). The lion's share comes in Q3 and Q4 because of increased city (or school or whatever) budgets established in the summer and fall that have to make up for the low estimates from earlier quarters.

Also, home insurance went up 9%. For water, I have to look back longer to spread the new solid waste charge over a more reasonable period of time. Last 6 quarters of billing compared to the 6 quarters before that: 87% increase. Your landlord certainly will pass on the "per unit per month" solid waste charge regardless if as a line-item or as a part of overall rent.

I thought there's a law that limits how much you can raise the rent in JC?

There are a handful of rent controlled units in JC but otherwise, no.

Multi family properties are a great way for those who cannot afford a 1 family home to be able to own a home. Again, owning a property and trying to make money from that property is a source of income. Nothing wrong with that.

Real property tax numbers for you to chew on (two-bed apartment, primary residence, downtown):

2016: $7,279 (pre-reval)

2019: $9,863

2020: $10,917

2021: $$10,876

2022: $14,362 (current)

That's a 97% increase in the space of six years. Given that the jump in the past year alone has been 32%, in not sure you should be too upset about a 20% rent increase.

Only if you think housing is a privilege instead of a human right but I’m sure you’re this defensive because you feel good about it :)

Bad if I have to pay 20% more rent and move to Harrison. As long as I live here I’m going to vote against these tax increases.

My landlord's property tax nearly doubled

Worst city to be a landlord. Math does not make sense

This argument has always struck me as wild. My landlord provides me a service; I get housing and don’t have to do or pay for any maintenance. This also means I don’t have the bulk of my savings tied up in a house.

There are unethical landlords and sleazy real estate developers, like there are bad actors in any field, but to suggest that it’s inherently unethical is preposterous. Is it unethical to make a living by selling food because food is also a basic need and a human right?

what neighborhood?

ew why are you downvoted lol

....to profit off of other people living there?

Tell that the the weird landlord group I've seen getting coffee at a few places, talking like they're financial geniuses because they happened to buy in the 90s when downtown wasn't... well it wasn't great really.

Mine just says "market rate" after googling all those highest rent articles, not realizing that factors in brand new dumb $10k two bedrooms & my place is busted/hasn't seen a coat of paint in over 8 years at least

>High earners aren't going to come and pay Manhattan rents in JC because of taxes and people aren't as likely to buy a place with such high taxes.

The value proposition of JC has been torpedoed awhile ago, yet we still have rubes defending "twice the space for half the price" memes from circa 2006

Well. Timing is everything. You make your money on the buy not the sell. But given todays dynamics you’d have to be a real idiot to become a landlord here. Or you are simply naive in thinking you can raise rents every year without any fear of them stabilizing or going down

They love to boo me when I’m right

You pay $14k in property taxes for a 2 bed apartment?? My parents pay $11k for a 2 story house! Although it is in south jersey so I guess since jersey city is more congested the taxes are higher?