JERSEY CITY, NJ — Homeowners in some parts of Jersey City are horrified by their new taxes after the city's first revaluation in decades.
It's the first revaluation since 1988 under a state mandated order following after decades of delays to update the city’s property values. While it's helped people in some neighborhoods, it's stretching the limits of others.
"I'm very upset," Marie Borelli said. "I put my heart and soul into this property."
Her property tax is expected to rise from $16,000 to $41,000 a year, according to a third party appraiser’s recent letter. The assessed property value that is projected to jump from $210,000 to just over $2.5 million.
"I'm not a spring chicken anymore and I want to retire," Borelli said. "This is the the way I thought this could happen."
A spokesperson for Jersey City Mayor Steve Fulop told PIX11 his honor was unavailable to speak with PIX11 for this story.
But fortunately, we still get to hear from the Mayor on this issue – via his email exchange with Borelli.
The Mayor writes Borelli: “The process isn’t perfect but we have tried to be as careful and fair as possible. I hope that helps and like I mentioned prior, I certainly understand the frustration.”
His exchange with Borelli continued through several emails where he carefully explained the appeals process and the fact that Jersey City did not have a choice about conducting the revaluation.
Borelli says she would love to sell her home for $2.5 million. She's hoping a wealthy buyer won't mind living with a $41,000 a year property tax bill.