ONe thing i can add about this. i live in lindenwold nj. small town, used to be really nice, although never a rich town.
i'm in the "garden lake" section. that is about the last holdout in the town. the rest went to hell. why? thanks to apartments. some of them are subsidized, some aren't. either way, they're what's drug this town through the years.
now here's the kicker. i pay $5300(ballpark) a year in property taxes. my house is over 100 years old. looks like it was built by drunken monkeys on crack. it's 2 bedroom, 1 bath, small living room, small kitchen. no dining room, no tv room or anything like that.
property's 120' across the front, and 140' front to back. i added a 2 car garage, seperate from the house about 13 or so years ago.
neighboring cherry hill(where my shop is), the average house is less then 50 years old. usually 3-4 bedrooms, kitchen dining room, tv room. some are 2 story, some split level. most have finished basements.
propertys are a little smaller though. usually only around 100x100. most of them have attached 2 car garages.
they average $6500 or so a year in property taxes. newer homes, better school system, better police and fire depts, better roads, and for all intents and purposes, the same tax rates.
what kind of bs is that?
i did have a lawyer friend tell me that in towns with a lot of apts. the property tax goes up for homeowners.....but still...........