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Paterson, NJ

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Tax appeals for Paterson

03-22-08
Dennis Sanchez
Dennis Sanchez: Real Estate Agent in Paterson, NJ
  • view my blog
  • Office: (973) 790-6996
  • Mobile: (201) 724-0422
I have spent the first quarter of this year trying to help residents of Paterson battle the horrendous tax assessments that drove their real estate taxes to sky rocket. I want every resident of Paterson to first understand that their taxes were not just increases by the town or the Mayor, but in fact your taxes were increased because your home was OVER ASSESSED. When you file for a tax appeal, you don't want to tell the committee about the people that live around you or that the roads are in bad condition ( they will only ignore you). Instead, you have to show proof, which comes from the comparable solds in your area. Once you have the comparable solds in your area, you must fill out the application and take all the items (application, comparables, and a $25 check) to 435 Hamburg Turnpike, Wayne, NJ 07470. After you do that, you will get a notice in the mail telling you when your appointment to go before the board and explain your case will be. You can get an application at your local city hall or you can come to my office in 914 Madison Ave, Paterson, NJ 07501 and we still have some available for whoever needs them. Also, the last date to file the application is in April 1. So you're running out of time. Any questions, don't hesitate to ask me.
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who wants to pay less property taxes?

03-21-08
Dennis Sanchez
Dennis Sanchez: Real Estate Agent in Paterson, NJ
  • view my blog
  • Office: (973) 790-6996
  • Mobile: (201) 724-0422
Paterson NJ has some properties and condominiums that offer tax abatements. What's a tax abatement? A tax abatement is when a taxing board grants a tax payer a stay of paying a tax for a short or long term, for a total or percentage of the tax. They are given for buldings for possible employment increase, company having financial problems or non profit organizations. The abatement is a great advantage because the taxpayer gets to pay 25%, approximately, of what the real taxes should be. In Paterson the abatement usually lasts for about 5 years. If you are interested in getting more information about properties with tax abatement, you can contact me and I will gladly get you that information for Paterson.
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Money to be made in Paterson

03-19-08
Dennis Sanchez
Dennis Sanchez: Real Estate Agent in Paterson, NJ
  • view my blog
  • Office: (973) 790-6996
  • Mobile: (201) 724-0422
The more I look in the MLS the more GREAT INVESTMENTS I find. I just saw a 2 family house in a decent section of Paterson for $235k, with a garage, finished attic and finished basement. Total income going to the investor would be around $4,000. With a 10% down payment, the new owner could be making $2,000 for their pocket each month. I don't know about anyone else, but an extra $24,000 a year could be very helpful to a household. I also saw a great one family in the Eastside of Paterson for $235K with a Jacuzzi and finished basement. It needed minor work, but definitely worth the money. If I would not have made other investments, I would've bought those 2 houses. What I can't understand is how there can be such great houses like those when we are in a market with extremely low interest rates and with people that have money and great credit.
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Why is it important to choose a Paterson agent for Paterson, NJ

03-14-08
Dennis Sanchez
Dennis Sanchez: Real Estate Agent in Paterson, NJ
  • view my blog
  • Office: (973) 790-6996
  • Mobile: (201) 724-0422
Paterson is a very very diverse city in NJ. Paterson has 4 sections on the outskirts of the city that are great locations, and some parts in the inner city that are livable and great for investment. Dealing with an agent that is not from Paterson will only end up wasting the buyers' time. The reason why Paterson requires alot more expertise is because in some sections a house could be $100k, but that same house in another part of the city could be worth $300k. Just to give our buyers a little idea of the historic city, Paterson is divided into 10 wards. The most elite part of the great town is Eastside. Eastside is where all the old mansions of the historic times were located. Each ward has a rich source of culture. So in conclusion, I want everyone to know that Paterson is not as bad as most people think it is, you just have to know where you are located.
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