Property Taxes!

Hello!

I’m moving to Rockland in a few weeks. We’re very excited but the final jitters are kicking in and I have some questions about property taxes. It seems like the Rockland area is the highest, by far, in the region. For example, my new home will have me paying about 15k a year. This is can afford, as long as it continues to go up at a reasonable rate. What worries me is that it seems like most homes in Rockland are tax assessed at significantly below value, even more so than nearby areas. For example, in Rockland, a 700 k home may be assessed for under 200k, whereas the equivalent home in Bergen County NJ may be assessed at under 400k or even higher. Is this to make up for the high tax rate? Long term residents….should I be concerned by the prospect of sudden and major tax adjustments? Do you feel like the enormous rate is worth it to reap the rewards for your family and children??

Thanks!