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Property tax assesment in New Jersey, what that means for a homebuyer

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Uploaded by on Apr 19, 2011

In New Jersey homes are assessed every 10 years in each municipality. During that 10 year period the home's value obviously increases or decreases, as well as the annual property taxes, but the assessed value remains the same. Many home buyers mistakenly believe the assessed value is what the home is currently worth. If this were true, then home values would only change once every 10 years!

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