Homes Prices in Tenafly - Bergen County Real Estate News

Bergen county news with an emphasis on aspects affecting real estate, residency and community issues.

Prices of Homes in Tenafly
Real Estate Property Revaluation in Northvale
Real Estate Property Revaluation to Start in Norwood
Taxes for Schools and Education in Leonia
School Tax Hikes for Englewood

Prices of Homes in Tenafly

According to a study conducted by CNBC, with over 13,000 residents, the Bergen County town of Tenafly is still not getting the housing rates it so deserves. Many houses that have been on the real estate market have been around for some time. This is seen to occur, because while buyers are waiting for the prices of homes in Tenafly to come down, property owners are waiting for prices to go up. However one must consider that home prices in Tenafly reflect much more than just paying for the house. While buying a home in Tenafly, it is wise to remember that one is also paying for the blue ribbon schools in Tenafly and the houses of worship that are at walkable distances. Also, Tenafly is much closer to the city of New York, which is just ten miles away. Click here for more information on the Bergen County town of Tenafly.

Real Estate Property Revaluation in Northvale

The state of New Jersey ordered a property revaluation in Northvale, Bergen County. The Real Estate property revaluation was ordered in order to help determine the worth of homes and business properties in the area of Bergen County. This revaluation will be conducted by Market Value Appraisal of Fair Lawn. The appraisal firm would be paid $125,000 for the exercise. The Bergen County residents of Northvale will be notified of the properties' new values of by the end of the year. Currently Northvale has 1423 residential properties. Besides these, revaluation will also be conducted for the 79 commercial and 59 industrial properties in the area. The values are expected to take effect in the year 2007. The average home in the area is currently assessed at $223,733 after the last revaluation was conducted in 1999 and took effect from 2000. The reason for the revaluation is to adjust real estate values as the taxable properties in Northvale are assessed at below 50%.

Real Estate Property Revaluation to Start in Norwood

The borough of Norwood will soon start a revaluation of the properties in the area. While initially the borough planned to conduct the revaluation along with Northvale, so as the towns get better prices, plans changed when Northvale opted to go ahead with its revaluation process. The revaluation would be conducted by Market Appraisers of Fair Lawn who would be paid $208,300 for the contract. The revaluation will take effect in the year 2008. Norwood currently has a considerable inventory of luxury homes, and local homeowners will get information on the new values of their homes towards the end of next year. However the borough says that they will ensure that residents are abreast with developments on the revaluation front till all data is complete. Over 1800 homes are present in Norwood currently and there are also many commercial establishments. Currently the average home in Norwood is assessed at $350,000, after the last revaluation that was conducted in the year 2001.

Taxes for Schools and Education in Leonia

According to new plans, the owner of a home assessed by the borough at an average of $255,000, would now pay an additional amount of $208 in taxes annually. This comes after the school board in the Bergen County town of Leonia approved a budget of $24.6 million which notes a 4 percent increase over last year. This proposed budget is $1.1 million more than the previous one and will come to the ballot on April 18, 2006. As per the proposal, the main increases would be seen in salary rises and benefit costs, while only $200,000 would be seen to increase on other programs. The budget would also fund for new educational programs, fiber optic network, reading materials, water heater and a retaining wall outside the Anna C Scott School. Click here to read more about education and school information in Leonia and elsewhere in Bergen County.

School Tax Hikes for Englewood

A school tax hike of 4.5 percent is also noted for the Bergen County town of Englewood after it was budgeted that running city schools would cost $66.6 million the next year. The budget for the year 2006-07 was unanimously approved by a board of eight members on March 30, 2006. As per the new budget, homeowners in Englewood would have to pay an additional amount of $20 per month. The board also voted to spend $2,500 a month to hire the lobbying firm Princeton Public Affairs Group. This firm will help the district in its negotiations with the state of New Jersey for the period of one year. The new budget also will fund consulting programs for learning, three career based schools, middle school sports and other special education programs. The board also proposes a tentative contract agreement with teachers, the details of which have not been disclosed.

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