They're actually evacuating the entire Hoboken hospital due to lack of water, too great a fire risk. What a shitshow.

Very easy, just compare the assessment of a local property with a store vs similar ones without. https://oprs.co.monmouth.nj.us/oprs/External.aspx?iId=12

265 8th st, AKA 'Walt's Liquor", commercial property with store and 3 units $964,600

267 8th st 4 units $1,284,600

269 8th st 4 units $1,419,600

Note that 265 is a corner and obviously worth more just in land value.

https://preview.redd.it/47zqe9znwzka1.png?width=632&format=png&auto=webp&v=enabled&s=05ad45070ce1577b8ede07181fe0d5c639e4f9d6

Now now, lets not be down on the narcissist for being honest, we've had enough trouble recently with the dishonest ones. In their mind, every problem that doesn't directly involve them is a 'you problem', though it does baffle me why it needs to be stated. Narcissism?

It's an LLC, but I don't know why that should make a difference. Quite a few individuals hold their single family homes in LLCs.

One working hypothesis for why some people get this might be that their algorithm shows that you are overtaxed and this is a way to preempt your appealing if you don't submit the info, as apparently many fail to do. Most of the articles I found online regarding this issue were about people who failed to submit within the specified 45 days.

Residential properties can be bid up by irrational exuberance and as long as the comps support it the banks will loan on it. A commercial property is a business appraised by its income.

What's hilarious is to look at an appraisal of a three family for example, the dishonest appraisers will torture the numbers so that the three completely different methods of appraisal: comps, rents & replacement, all fall within a couple of percentage points of each other.

It's the way it's always been, and typically the tax on a commercial property is lower than what you'd think for a similar residential. Residential is subject to what Alan Greenspan called "irrational exuberance" in the market, whereas a commercial property is a business and businesses are valued according to how profitable they are. Unless you're a tech startup of course!

The real arbiter of all this is the banks. If you try to borrow money for a commercial property that their appraiser says isn't producing enough income for that price, they're just not going to loan you what you want. Most residential properties and especially condos in JC have prices that are unsupported by their rents.

I believe it's actually every 10 years or when the ratio gets more than a certain percentage, I think it's like 15% and already past it.

No, that's called a "spot reassessment", and not done here. But don't make the mistake of pre-reval purchasers of undertaxed Downtown properties and think that it's etched in stone. By the current ratio of sales to assessments we're already due for another reval, and your property would be reassessed base on sales comps.

A large portion of the park is still brownfield 'space for none', and the ballfield on Grove is very nearly so. There's room to improve this without depriving anyone of their current LSP experience.

>there really is no other plant and animal habitat like it around.

Given that the ecosystem in the park is a disaster built on landfill, I think this is the weakest argument. Yes there are plants and animals there, but it is in no way natural or even close. What would be nice as part of a master plan for the park is if the 'forbidden zone' could be turned into both sports fields and actual natural lands of native species and an ecosystem helped by landscaping to be more like a natural setting. It could eventually look more like Central Park instead of a landfilled rail yard let gone to seed.

Do you have a source? I was just assuming from observation and trends. In general suburbs have opposed 'transit oriented development' that increases density around commuter rail.

I grew up in a LI town 35 min from Penn with 2 LIRR stops, a cute little downtown, and zero multifamily development.

I know this is heresy to some on 2 counts, but there should be ball fields in LSP, and the Roberto Clemente Field on Grove & 6th should be a regular park with playgrounds, dog runs etc. It's a precious open space in the densest part of town being used by a privileged few in the 'Little League Mafia' that controls several JC parks. The user pressure on Hamilton Park is ridiculous, and we need more general parks.

At least some of the toxic "Badlands" of LSP could be remediated and turned into baseball and soccer fields. So much of that park is unused. This is not proposing the commercialization of LSP as some have justly derided, just a democratization of it's use, making it less passive and serving more people.

JC gets credit I guess for the many redevelopment zones that allows the density we see in places like DT, JSQ, and I believe along the commercial corridors like Central and Palisade. The R-1 is keeping infill low density, in many cases lower than the surrounding properties.

>That explains why real estate is so pricey in Nassau County, but it doesn't explain Jersey City, which is a completely different market.

Not at all. JC is only 250k in a metro of 20m. Squeeze the balloon in Manhattan and some people pop up in Maplewood or Manhasset but others pop up in JC or Brooklyn. Different segment of the same market.

Precisely how rent control in response to a housing crisis during world War II has resulted in a continuous housing crisis for the past 80 years.

To be fair, when non-construction based gentrification takes place because people more affluent than the current residents move to an area for lower prices, all the rents and prices move up as the area becomes more desirable to the more affluent. But that population is only on the move because of limited supply leading to even higher prices where they're coming from.

>You are literally denying reality.
>
>What you are saying goes against views that are widely held among economists and other housing experts.

Never stops the "socialists" who want to solve problems created by government market interference with more government interference.

Yes. When you've restricted development density, it makes sense to tear down an old single family on a 50x100 lot and put up 4 huge new homes in 2 Bayonne Boxes that are zoned as-of-right by R-1. If we got rid of R-1 you could build 12 or more homes on that same lot.

On the right are 8 conforming homes in 4 houses, on the left are 56 pre-war homes in 2 buildings on a nearly identical lot.

https://preview.redd.it/yrzup39hv0ka1.png?width=799&format=png&auto=webp&v=enabled&s=7203b1593c3bf431635f7b1fa6053fa50641b77a

Exactly. Now you have it! Zoning and restrictive covenants aren't capitalism, they're hoarding and market manipulation.

The Bolshevik doth think too little.

The comparisons to the other Metro areas does not state that they are succeeding in meeting housing demand, only that they are creating at a much higher rate than the NY suburbs. One assumes that Bergen & Essex Counties are similarly low to the other NYC suburbs.

JC is not an island, it's part of a interconnected Metro area and cannot lower rents no matter how much it builds if new construction attracts people from areas that are not building to meet demand.

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You'd definitely be able to find a 1br in your budget within a 15-20 min walk of the PATH, you're young, you don't mind a little walk or bike ride, right?

Actually the most useful comment in the thread, but many people feel they shouldn't have to modify their behavior because of crappy drivers.

They only have those cops during certain hours. When the cops vanish all hell breaks loose and Canal & Hudson is simply grid lock.