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Old 03-06-2011, 09:56 PM   #1
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Finish Basement in NJ


Hey Guys,

I have a few questions regarding finishing my basement in Central, NJ. I'm trying to finish it with a minimum tax hike and I'm hoping some of you guys can steer me in the right direction with your suggestions.

I heard a rumor that if someone finishes a basement, and left parts unfinished, that the tax assessor cannot assess the entire space because of that. Is this true?

Also, I'm contemplating doing the job without a permit, however, I do want to add a bathroom down there, preferably something with a stand up shower. I know for this reason, I should get a permit. Does anyone know or have an idea of how much the tax will go up?

Thanks,

Rocky

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Old 03-07-2011, 07:25 AM   #2
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Finish Basement in NJ


I can't comment on the tax question. As for the permit, unless you are 150% sure that the new bathroom won't be questioned when you go to sell the house, get the permit. And for something that significant, get the permit anyway.

Friends of ours bought a house recently where the previous owner had done lots of stuff without getting permits. It ended up delaying the sale several months (although they were able to negotiate a significant cut in price and additional escrow to cover the possibility of redoing the non-permited work). In the end, his lack of permits saved them money but as the seller, he lost out.

jlc

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Old 03-07-2011, 10:07 AM   #3
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Finish Basement in NJ


Thanks for your response jlc.

I'll be getting the permits for the job, just don't want to have to deal with any bull**** reason to get fined.

Still wondering if no finishing certain sections will prevent a tax hike.
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Old 03-07-2011, 12:32 PM   #4
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Finish Basement in NJ


Do what i did, you dont need to let the tax assesor in your place. if you dont then they may value it off of comps around you. I had the assesor stop by my house even before my basement was finished. to this day i have never called them back. same thing when i built the house. never called them back.
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