If you can believe it, Newark NJ is taxing my 2 family house nearly 15 k a year. Let me say that again in case you feel your eyes are deceiving you. Newark NJ is taxing my 2 family house nearly 15 k a year. Yes I am referring to the city of Newark from the state of New Jersey that you see blasted on the news quite often. And yes I am referring to the acronym k to represent a thousand.
I bought my house in 2003 when the housing market was going up rapidly but not out of control. Back then Newark had a tax abatement for first time buyers and being that I had a thriving business teaching people how to dance salsa in the same city I thought why not go for it. The plan was simple... Buy a newly constructed house for a good price with a 5 year tax abatement in an up and coming area.
But then 1 day I woke up and it was 2008. My business was disolved, the housing market had crashed and my great tax abatement was over. My taxes nearly doubled overnight from 5 k a year.
For 4 years I have seen my taxes go through the roof and haven't done anything about it because I have been lazy, forgetful and busy getting married and having 2 kids. However, last year I said enough is enough. In early 2012 I filled papers for a tax appeal to show them that I am being taxed on a much higher scale being that home prices have crashed down significantly.
Well I am happy to say that tomorrow I am going in at 9 am to prove my case. I am bringing 3 things that will be greatly needed to help me finally lower my property taxes.
1. A list of 5 undervalued houses sold in and around my neighborhood.
2. The current assessed value of my house.
3. Torn dirty clothes for sympathy.
Wish me luck.