Michael G. asked
I'm buying a house in Edison, New Jersey, which is an old construction with a property tax of $6500 for 2015. If I demolish it and make new construction as my own residence, or add a story to the old construction, will it cause a hike in property tax? Also, if I buy the old house today but don't make any construction changes and don't move in for the next three years, will I still have to pay property tax? If I'm late on paying property tax, will there be any penalty, and would it be a permanent increase in house tax or just a one-time fee?
June 5th, 2024
Nicholas J. answered
If you make significant changes to the property, such as demolishing the old house and building a ne...
June 5th, 2024
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