--- In AsburyPark@yahoogroups.com, "jerseyjohn99" <[EMAIL PROTECTED]> wrote: > > Asbury Park tax rate (equalized): 1.674% > Spring Lake tax rate (equalized): 0.607% >
Equalized is the tax rate multiplied by the tax rate. > Don't forget that it costs nearly 3X more for the privilege of owning > that same Victorian in Asbury Park. > > Now consider the fact that the waterfront abatement is tied to actual > sales prices in the secondary market. In a down real estate market > it's a pretty good bet you'll be paying a HIGHER tax rate in 10 years > as you bear the municipal burden for the buyers who get the condos at > fire-sale prices along the way. I assume you are saying that when the abatement burns off the prices of the condos will decline? It is important that the sales price is used as the basis of taxes. A condo selling for $500 K will be assessed at $500K. Not so with a non-abated home. However, all of that may go out the window with an expected revaluation. The taxes in AP are relatively high for the qulaity of life. However, one could get in here at one time for a good price. Not so with Spring Lake. Buying righthere the upside was much greater than neighboring towns. That's why I bought. ------------------------ Yahoo! Groups Sponsor --------------------~--> You can search right from your browser? It's easy and it's free. See how. http://us.click.yahoo.com/_7bhrC/NGxNAA/yQLSAA/Y2tolB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
