Hoboken Property Tax Disparity
Some Hoboken residents frustrated with property tax imbalance
One Hoboken411 reader emailed me yesterday – and shares the feeling many Mile Square residents have: The often huge disparity in Real Estate taxes between comparable units.
Is the Hoboken Tax Assessor doing their job?
“Is there any reason to the Hoboken property tax disparity? Personally, I think it is all about who you know and I am not convinced the tax assessor is doing his job.
If he was doing his job, I’m sure many of us would see our taxes go down, because bringing homeowners that are way under taxes up to where the rest of us are would add a lot of revenue. Maybe $15,000 isn’t the right number for the downtown property I was looking at, but $8,000 is a steal.
There are many, many more out there. My neighbors and I talk about it all the time. I’ve heard the situation is even worse with under-taxing of multifamily buildings. Look at any multifamily on the market and then look at the assessment? Big, big discrepancy compared to where the assessment should be.
I think Hoboken residents just want the assessment process to be fair. Many, many residents are under assessed.”
What do you think is the solution for the property tax disparity? Who wins? Who loses? And how long is this going to take?