Home price jackpot? Think again.

From the NYT:

How Much Higher Are Your Post-Pandemic Property Taxes?

The median price for a single-family home in the United States rose about 40 percent from 2019 to 2022, peaking at $480,000 before receding to about $417,000 at the close of 2023. The higher home prices have led to higher property taxes, adding even more to a monthly housing budget. A recent study by CoreLogic found that from 2019 through 2023, the median U.S. single-family property-tax bill rose by nearly 24 percent, to about $2,826.

Property taxes are determined on the county level, based on a home’s assessed value and the local tax rate. Reassessment timelines differ — taxable home values are determined either at the time of sale, annually, or on another schedule — so the pandemic price increases have affected rates differently depending on location. CoreLogic found that taxes rose 26.3 percent ($612) among homes that were reassessed since 2019, and 18.4 percent ($402) among those that were not. What’s a few hundred dollars over the course of 12 months? Maybe not a deal breaker in lower-cost counties where the tax rates are more manageable.

But don’t tell that to homeowners in Westchester, just north of New York City, the most expensive tax county of all. According to a separate CoreLogic study, the median tax bill there in 2023 was $15,373. Just across the Hudson River, Rockland County, N.Y., followed, with $14,879 a year in property taxes; and New York County, otherwise known as Manhattan, had the third-highest taxes, with a median of $14,073 a year.

Overall, the New York City area had the highest taxes in the country, with 13 of the 15 most expensive tax counties located in the city or its suburbs.

This entry was posted in National Real Estate, New Jersey Real Estate, NYC, Property Taxes. Bookmark the permalink.

61 Responses to Home price jackpot? Think again.

  1. leftwing says:


  2. leftwing says:

    And on the above look at the effective rates…

    NY suburban areas are at 2% or better…the two other suburban locations are below 1%.

  3. leftwing says:

    SBF sentencing day…bid 6.5 years, ask 40 years…

  4. Very Stable Genius says:

    Top 3 are in New York.
    Those liberals are very wealthy.

  5. 3b says:

    Very: Or very silly, paying high property taxes, and not getting much for it.

  6. Fast Eddie says:

    Stay outta Rockland, you’ll get the measles!

    Hmmm… think I’ll write a punk song based on that theme.

  7. Libturd says:

    In Essex County, we own a pricey restaurant with terrible reviews, a zoo and a mini golf course. It’s for the public good.

  8. Libturd says:

    How much money does the county burn?

    Well, here are all of their recent projects on a time lapse camera, because it’s tax payer dollars. Watch them build a giant shitty restaurant. Or the world’s most modern Public Works Yard.


    Joey D’s gotta earn his three pensions.

  9. Chicago says:

    I don’t understand an underlying fact about the headline article. The municipal budget is the budget. It is a finite sum. Just because property values increase, does not automatically assume taxes go up. If spending remains constant (of course it doesn’t), why wouid the nominal tax increase?

  10. Fast Eddie says:

    A recent study by CoreLogic found that from 2019 through 2023, the median U.S. single-family property-tax bill rose by nearly 24 percent, to about $2,826.

    Goods, services, fuel, medical, food, entertainment and leisure all rose by that margin or better, so all those market gains are just hard paddling to keep yourself from sinking into the abyss.

  11. Libturd says:

    I noticed that too. It’s simply wrong.

    In other news, here’s another 32 million down the drain.


  12. Very Stable Genius says:


    The final reading of US Q4 2023 GDP comes in at 3.4%, above expectations of 3.2%.

    This officially marks 6 consecutive quarters of positive GDP growth.

  13. Libturd says:

    Check out this behemoth residential building going up a block away from the Rock.


  14. 1987 Condo says:

    Chicago: I have been confused by that issue for years, in the south, the munis routinely raise the taxes based on the assessed values each year, without, apparently adjusting the mill rates, seemingly increasing revenue without regard to “budgets”.

    Lib: I have been Essex County resident since 1987. The County tax rate was crazy before Joe D. and the facilities were a dump (Verona park). In the last 14 years, my Essex rate has increased 13%. I’m sure that he is lining his friends pockets but at least he has modernized all the 1940’s facilities and parks.

  15. 1987 Condo says:

    My daughter lives in Fort Mill, in South Carolina, if you are a full time resident you pay 0% towards the school property tax and are assessed at 4% of market value. If you are a part time resident you pay the full school tax and are assessed at 6% market value.

    I learned this while exploring properties and finding out I’d pay $9,000+ vs $2000 if I was not a resident of a property. Same holds true for the tax on cars.

  16. BRT says:

    left: took a client to lunch at Huntley Taverne in Summit. I got there about 11:45AM and sat at the bar. I guess it never dawned on me when I was working Treasury in Basking Ridge and Bedminster, but a place like that restaurant would serve as a perfect way station for i-bankers to collect themselves before or after pitching to carpet land at all the corporates in the area. It is 2 minutes off 78/24; kind of a launching point in all directions. Or did you guys just take the Lincoln Navigator from the city and strategize in the car/wait to debrief in the city.

    It always pissed me off when the super-SMD would copter in to the heliport. Get over yourself. It was a certain Goldman guy and a serious shitbag from Salomon.

    Chi, I stopped in summit to pick up a Gyro and some falafel at the Greek place there (probably best falafel I’ve had in NJ btw). Something happened around 5 pm. Either people forgot how to drive and decided to crash at every major artery in these towns, but I had to venture through Union to get on the parkway to turnpike to 133 to Rt 1 (I usually just take 78 to 206). I got home at 7:30. An extra hour and fifteen minutes. I felt like I was in Bergen County again for the day.

  17. BRT says:

    I had a friend who taught at a charter school in Newark which came from public funds. They had to burn their cash prior to a date in order to secure next year’s bank. They bought some curriculum on a recommendation from someone at the last minute. He said, the curriculum costs $250k, and some dude literally photocopied pages from random textbooks that weren’t his, put them together, ran them through a xerox machine and sent it their way. Obviously, it was a scam and someone on inside was in on it.

  18. BRT says:

    Lib, county BOEs. I’m not sure why they exist but they run several full time employees. When I was having issues with my certification, I couldn’t find an office in Trenton to show up at. So I visited all the county BOEs to see if they could point me in the direction. These people do absolutely nothing and collect a paycheck. I wonder if they even bother showing up half of the time.

  19. 3b says:

    Lib: I wonder who they expect will pay the rents to live in there?!

  20. Libturd says:

    The county government is the biggest joke around. They essentially exist to maintain and plow county roads. The county sheriffs are my favorite. An entire force dedicated to being crossing guards at county facilities and to march in parades.

    Here’s another 4 million wasted.

  21. Libturd says:


    Forgot the link.

    Everyone needs fancy new digs. Meanwhile, we had to float a massive bond to redo the 80 year-old bathrooms in our schools. Only in NJ.

  22. Libturd says:

    Wow. There are 600 sheriffs now in Essex County.

    Perhaps that’s why every resident in Glen Ridge pays $1,300 a year to the county. Not household, to be clear, that’s every resident. We pay nearly that much for the municipal portion of our property taxes. You would think our streets would be paved in gold. Nah, only their work facilities are.

  23. NJCoast says:

    Couldn’t get into the ShopRite near me yesterday because of all the hoopla around the winning billion dollar + lottery ticket purchased there.
    In other news Kushner is building 1700 new rental units in Long Branch and Eatontown.

  24. Juice Box says:

    Our taxes are up. School Board says the loss of pandemic funds and State funds are to blame. Somehow they say hiring full time occupational therapists and physical therapists is cheaper than outsourcing it by the hour.

    We have good school facilities and there are no plans that I know of to knock them down and build new ones.

  25. 3b says:

    US Government reports that members of a notorious Venezuelan gang called Tren de Aragua are making their way to the US through the border with Mexico.

  26. JUice Box says:

    Oh BTW got a call from the Principal and later the Police after they reviewed the school bus video tapes going back a week or so. Nothing happened to my kid but apparently someone’s child decided to become the school bus bully and there have been a few incidents. This was not the first incident either, several reports going back to January. I don’t know what happened but Dennis the Menace is not on the bus anymore. Bus ride is only one mile too.

    I asked my son why he did not just crush him and well he says he felt sorry for the bully and besides he was much smaller. Great child I have…if that were me there would have been blood.

  27. SmallGovConservative says:

    Libturd says:
    March 28, 2024 at 10:08 am
    “…every resident in Glen Ridge pays $1,300 a year to the county…that’s every resident.”

    A more relevant ‘per-resident’ metric, particularly for NJ, would be resident cost per pothole. Given the number of potholes I’m sure that number is very low, and something that Bucktooth Phil, who once famously said: “If taxes are your issue, we’re probably not your state”, would be proud of.

  28. Grim fan (another one) says:

    Grim your comment the other day regarding vintage pickup and amp wiring was very educational.

    Back in the day Ken Fischer did some work on my Bandmaster, which was very artfully done with its deliberate wire-routing and other thoughtful touches including a Trainwreck Electronics sticker on the chassis as a mark of it’s new ‘pedigree’. Had I been more aware that he was a premier amp guru I would have held onto that unit. I believe original Trainwrecks are going for $30k.

  29. NJ Gator says:

    NJ Coast – Eatontown today. Gaza tomorrow.

  30. Boomer Remover says:

    “Lib: I wonder who they expect will pay the rents to live in there?!”

    Is what they said about Williamsburg Brooklyn circa 2004.

    I don’t know how you guys live in “southern jersey” which for me is anything south of that giant highway bridge thing. It’s such a fkn wasteland down there.

  31. Libturd says:

    I think everyone likes their own thing. If it wasn’t so damn cold, I would move to Wyoming in a minute.

  32. Juice Box says:

    Coast – You forgot to mention the word “luxury” and the fact that Charles Kushner and his wife still live in Long Branch.

    They should rename it Kushner town.

    They are in full swing with mixed use and high density projects now….

    The latest project is 199 luxury apartments downtown Broadway in Long Branch four-story buildings with a mix of studio, one-, two- and three-bedroom apartments in that waste land.


    They are also building to the chagrin of the locals who thought not having a sewer system would keep them out fifteen three-story buildings with 360 residences in Colts Neck by the High School.

  33. 3b says:

    And all these developments have one thing in common. They are all apartments.

  34. Very Stable Genius says:


    Sam Bankman-Fried Sentenced to 25 Years in Prison
    Mr. Bankman-Fried, who was convicted of stealing $8 billion from customers of his FTX cryptocurrency exchange, faced a maximum sentence of 110 years.

  35. Very Stable Genius says:

    Trumps next

  36. Juice Box says:

    NYC to put in AI in the subways.

    Will be used to detect weapons, a combination of cameras and metal detectors.

  37. No One says:

    SBF probably gets out in 15 yrs or less for good behavior, assuming he doesn’t join an Aryan gang. Lack of access to video games will probably pain him most. Well, besides his asshole.

  38. No One says:

    I’m paying nearly $50k per year on property taxes on my two homes. Slightly more in FL than in NJ, because the FL house is appraised at twice the NJ house’s value.

  39. leftwing says:

    “Is what they said about Williamsburg Brooklyn circa 2004.”

    Was going to make a similar comment about Jersey City lol.

  40. 3b says:

    Left: Fairpoint, but I would not bet on it.

  41. Juice Box says:

    NoOne – Federal prison rule are different, prisoners have to serve 85% of their sentence if convicted of federal charges, so at minimum 21. 25 years.

    Ellison, Wang and Singh all plead guilty in exchange for cooperation. They all got rich too. They should get jail time but who knows…

  42. Libturd says:

    My dad’s factory was in Williamsburg, right under the bridge. If you didn’t park your car in a closed truck bay, it was as good as gone. He wouldn’t let me walk to the corner bodega by myself to get a coffee and donut for the city inspectors when they came. Now, I see the truck bays have been converted into a J. Crew and there are nice restaurants up and down the entire Avenue. If you know Brooklyn, it was on Wythe Avenue. His factory is now studio apartments. I hope they cleaned all of the Selenium up from his rectifier production. If he was alive today, he would have absolutely plotzed.

    240 Wythe Avenue.

    That alleyway was patrolled by trained-to-kill German Shepherds. I kid you not. It kept the theft down in his factory where others also made knock off watches and other electronic crap. There used to be an amazing seafood distributor across the street. I doubt it’s there anymore either. The person who bought the business moved it to Connecticut. I’m sure the rent and regulations made him do it.

  43. Juice box says:

    Lib you should rent the first floor at 240 Wythe and open a restaurant and name it Selenium.

  44. 3b says:

    According to Business Insider article , Momunes are a growing thing. Single Moms with kids move in together with their kids. The Moms help each other run the household etc, and the kids entertain each other.

  45. 3b says:

    Many a night I spent in Peter Lugers back in the day. Surly, rude waiters but fantastic steaks and the cream spinach. Black Lincoln town cars to safely whisk us home to our suburban homes. My all time favorite was the Post House, 65th between Lex and Park.

  46. leftwing says:

    “Ellison, Wang and Singh all plead guilty in exchange for cooperation. They all got rich too. They should get jail time but who knows…”

    Judge’s reply to SBF’s defense that he ‘didn’t do it for the money’ was that he did for the prestige, access, and influence and noted in particular the campaign finance donations that broke the law.

    Did I miss those politicians getting indicted?

    Rhetorical, with sarcasm….

  47. Libturd says:


    We wined and dined them at The Palm, Old Homestead, forget many of the others. Those were the days. The seafood tower at the Homestead was insane. I was always one of the few who ate clams and oysters, so I always got to pig out on them. Man, I miss those days.

  48. 3b says:

    Lib: We hit those places too, but Luger s and the Post House were my favorites. We also for a change of pace did Sammy’s Rumanian , he was a character. Then of course there were other times we had to add extra curricular activities, like Scores, and Hogs and Heifers. Always a town car home of course, and no matter how late, back at the desk by 7:30 AM. I miss those days too. Oh, another one which I did not like was La Cote Basque, French. It had Hyde buzz back in the day. Rude waiters, and tiny portions on huge plates.

  49. Libturd says:

    We were down on Varick, most of the time, so 55th was too far north, but I knew of that place.

  50. leftwing says:

    Post and Palm, Post was personal fave. Luger, of course classic.

  51. 3b says:

    Left: Post my favorite too. It closed some years back, due I am told to changing culinary tastes.

  52. SmallGovConservative says:

    Very Stable Genius says:
    March 28, 2024 at 12:59 pm
    “Trumps next”

    Did anyone see Unstable’s picture in the news last week — shaving in the ladies locker room at Planet Fitness? Not as good as winning the billion-dollar lottery, but still 15 minutes of fame for an otherwise obscure putz like Un.

    But to bring this to a T-related point, it’ll be interesting to see whether stuff like the PF incident, the growing list of murders (of young women) committed by Joe’s illegals, and the general sense of lawlessness in our cities, causes women voters to move at all from D to R, or whether they continue to blindly vote D.

  53. The Great Pumpkin says:

    Not being fair; those sheriffs also work overtime watching construction guys work. Tough job, I tell ya, but someone has to do it.

    Libturd says:
    March 28, 2024 at 9:58 am
    The county government is the biggest joke around. They essentially exist to maintain and plow county roads. The county sheriffs are my favorite. An entire force dedicated to being crossing guards at county facilities and to march in parades.

    Here’s another 4 million wasted.

  54. The Great Pumpkin says:

    Before you ever direct your anger at schools for your taxes, send it towards county govt…esp the useless county cops.

  55. The Great Pumpkin says:

    I don’t know who, but some smart individual on here called this 10 years out. Even called the housing market on the year. Pretty amazing calls in my opinion.

    Very Stable Genius says:
    March 28, 2024 at 8:40 am

    The final reading of US Q4 2023 GDP comes in at 3.4%, above expectations of 3.2%.

    This officially marks 6 consecutive quarters of positive GDP growth.

  56. Chicago says:


  57. Chicago says:


  58. Chicago says:

    Left: officially a special season.

  59. The Great Pumpkin says:

    Honestly, this just might be the best economic environment and opportunity in human history

  60. The Great Pumpkin says:

    What looks expensive, just might be cheap. Maybe this time is different.

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