Gloucester Township, Camden County, NJ
If you take a ride within your own development, will you see a growing number of vacant homes?
Even long time residents of Gloucester Township are finding it too expensive to stay in the home that they paid off, but can't keep up with property taxes.
Many homes seem to be on the market for a very long time, others are littered with stickers that indicate that the house in in foreclosure. In many cases, the property in not maintained, the grass is growing, store flyers are piling up, and some are getting windows broken and boarded up.
As home values decrease greatly, the tax assessment is not equal to the "true" and "real" value. The township has an "assessed" value, and even though other comparable homes in the development are selling for much less, the taxes are not reflecting the same.
The more homes that become vacant, the more those staying pay in taxes to make up the shortfall of those whom have left.
If you purchase a home for $210,000, but the home was last assessed at $330,000 , your property tax is on the assessed value, not that sale price.
Will your children be able to afford Gloucester Township, and stay close to their parents and family? Do the math. See for yourself.
Gloucester Township was at one time a great place to raise a family. Spending sprees by local politicians in the past 5 years has changed that.