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Understanding Property Tax in NJ
Hello BP Community,
In preparing to begin investing in real estate, I want to have a thorough understanding of how property taxes are levied against a property. I have read great material such as this article on Investopedia, but I am confused as how these taxes are really assessed and how I can estimate property taxes when analyzing a property.
I looked up the home I currently rent in located in Jersey City, NJ (via this Jersey City gov link), I found that the property tax changed every two quarters. Some locations change every quarter. From what I read, property tax is assessed every year so I don't understand why it is changing every two quarters. I would appreciate any insight or guidance to understanding how this system works.
I would also greatly appreciate any advice on how to estimate property taxes when analyzing properties in a municipality?
I hope this isn't too much of a noob question and I appreciate your help!