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NJ Real Estate Taxes!!!!!
Could Someone Please explain NJ Real Estate Taxes???
I can't comprehend how open farm land that has been paying only several thousand dollars a year for huge Acreage, can suddenly be worth $10,000 - $15,000 - $20,000 in Tax Revenue per LOT a YEAR to municipalities that didn't spend any money to build that community??
Where is all the extra CASH going to these towns and worse, how can they justify that amount of money?
When a builder develops a community, they incur all the expenses of roads, sidewalks, installing utilities - basically everything!
A good example is Glassboro.
They had open farm land that was developed by a builder (at the builder's complete expense!) as a 55+ Community. As a 55+ Community, they are not going to have too many school kids, won't need too much police activity since the neighborhood watch is probably the best in Glassboro, the Fire Dept is on minimal call since the homes were all built to new building codes.
So - the question is WHY are the taxes($8-10,000 per tiny lot - 6,000 Sq.Feet) sooooo high??? And where is all that NEW CASH MONEY going in Glassboro???
I was speaking with a resident who purchased a large new ... more

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