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SD-777 t1_jadepn2 wrote

Yep my town just had their re-evaluations done and my house went up, no joke, 60%. Of course they are basing this on prices at the complete top of the crazy real estate market we recently went through. I called to ask for a re-evaluation and they stuck to their guns so I ended up hiring an attorney to fight it. Yeah I feel bad in some ways as my kids utilize the schools and I know all that stuff runs on property taxes, but at the same time I feel like my house's value is grossly inflated for the tax revenue.

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carregaldosal t1_jadh75z wrote

What’s there to feel bad about? Your town has probably raised your property taxes every year you’ve owned your home.

Inflation has been a problem for well over a year now and they still raised your property taxes.

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ukcats12 t1_jadpztf wrote

> Yep my town just had their re-evaluations done and my house went up, no joke, 60%

When they do a town wide reassessment the tax rate doesn't stay the same though. The value of your house might have gone up, but the tax rate is then cut to compensate. The town's tax revenue will stay approximately the same. Your taxes might go up, but certainly not by 60%.

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SD-777 t1_jadz0m3 wrote

Yeah the tax rate went down, but it will slowly climb back up as it's done every year. Even with the rate going down my yearly property taxes still went up significantly.

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lost_in_life_34 t1_jadptkq wrote

north NJ the homes are still selling for over asking

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SD-777 t1_jadytcu wrote

They are, but they've cooled down some since hitting peaks last year.

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