NJ Realty Cafe

Monmouth County NJ Real Estate | Monroe Township NJ

Archive for April, 2007

NJ Housing Appreciation

Posted by by Monmouth County-Monroe Twp News and Real Estate Information on 27th April 2007

This should put a smile on everyones face, according to data released from the Office of Federal Housing Enterprise Oversight (OFHEO) in respect to housing appreciation, most states posted gains and New Jersey was one of them showing gains in 2006 of 5.80%. According to the National Association of Realtors, due to very favorable mortgage rates 2007 will bring another year of growth in the housing market! :) Good news right?

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Make Text Bigger!

Posted by by Monmouth County-Monroe Twp News and Real Estate Information on 13th April 2007

Print is Too Small, Help Me Make it Bigger!

If the print on any webpage is too small to read you can easily enlarge it with these easy steps.

1. In your Internet Browser..at the top of the page click View

2. Select Text Size

3. Select the desired size

If you are using a Netscape browser select View , then select Increase Font.

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NJ Assessed Value and NJ Market Value

Posted by by Monmouth County-Monroe Twp News and Real Estate Information on 13th April 2007

New Jersey Property Values

The difference between assessed value and market value.

Assessed Value - The monetary amount that a property is entered on the assessment roll for purposes of computing the tax levy. Assessed values differ from the assessor’s estimate of actual value for three major reasons; fractional assessment ratios, partial exemptions, and decisions by assessing officials to override market value estimates.

Market Value - The most probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time for the sale, and assuming that the transaction is not affected by undue stimuli.

The “assessed value” is defined as the value of each property used in the computation of the property taxes. After allowances for personal exemptions, it becomes the taxable value to which the tax rate is applied.

General Tax Rate by County and Municipality…click the link below..

http://www.state.nj.us/treasury/taxation/index.html?lpt/taxrate.htm~mainFrame

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