Title Wise
The New Jersey Real Estate News You Can Use
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Greetings!
Inflation is on everyone's mind! Well, there is SOMETHING you might be able to do about it: Apply for a property tax freeze. Below is a short article on how the process works. We also are recognizing that June is National Homeownership month! Counsellors Title is super excited to be a part of making the American Dream of homeownership come true for tens of thousands of people!
Please feel free to email me at ralph@counsellorstitle.com if you have any questions or would like to follow up on any of this edition's articles.
Ralph Aponte
Founder & President
732.914.1400
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The average 2021 property tax bill in New Jersey was $9,284, representing a $172 increase over the previous year.
And in many of the Garden State’s most affluent communities, property taxes went above the $21,000 threshold, with some homeowners seeing year-over-year increases of $700 or more on average.
Previous Eligibility
If you moved to the home for which you are filing a 2021 application between:
January 1, 2018, and December 31, 2018; you must have applied and been eligible for a 2017 reimbursement.
January 1, 2019 and December 31, 2019; you must have applied and been eligible for a 2018 reimbursement.
Age/Disability
You (or your spouse/civil union partner) were:
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65 or older as of December 31, 2020; or
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Actually receiving federal Social Security disability benefit payments (not benefit payments received on behalf of someone else) on or before December 31, 2020, and on or before December 31, 2021.
Residency
You lived in New Jersey continuously since December 31, 2010, or earlier as either a homeowner or a renter.
Current Home Ownership
Homeowners. You owned and lived in your current home since December 31, 2019, or earlier (and you still owned and lived in that home on December 31, 2021).
Mobile Home Owners. You leased a site in a mobile home park where you placed a manufactured or mobile home that you own since December 31, 2019, or earlier (and you still lived at that site on December 31, 2021).
Property Taxes/ Site Fees
Homeowners. The 2020 property taxes must have been paid by June 1, 2021, and the 2021 property taxes must be paid by June 1, 2022.
Mobile Home Owners. Your site fees must have been paid by December 31 of each year respectively.
Income Limit
Your total annual income (combined if you were married or in a civil union and lived in the same home) was:
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2020 – $92,969 or less; and
- 2021 – $94,178 or less.
To apply for a reimbursement you must file Form PTR-1 and enclose Form PTR-1C, Verification of Change of Primary Residence.
Form PTR-1C is not available on this website. Call the Senior Freeze Information Line (1-800-882-6597) to obtain a copy of this form, or if you have questions about your eligibility for the 2021 reimbursement.
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Mid-year Housing Forecast Update |
June is National Homeownership Month |
Truly, homeownership is one of these American phenomena. Mortgages only became generally available after the U.S. banking system came into being after the 1860s through the National Bank Acts.
Another milestone was reached when Congress passed the Fair Housing Act of 1968. The Act was signed by President Lyndon B. Johnson and banned discrimination in housing based on religion, race, gender, and national origin.
In its 87 years of existence, the Federal Housing Administration (FHA) has saved America an almost $4 trillion loss of household wealth. It has helped more than 44 million citizens to become homeowners.
National Homeownership Week began in 1995, and later, in 2002, it was expanded to include the entire month of June. National Homeownership Month reinforces the belief that owning a home is one of the steps towards achieving the American dream.
Counsellors Title Agency is thrilled to have been a part of that, processing over 40,000 orders for title insurance in its 25-year history.
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Smart Goals Template
We’re quickly approaching the halfway mark in 2022, meaning it’s time to check in on the progress you’ve made on the goals you set out to achieve this year…
What goals have you achieved so far? Are you on track?
If you need some help resetting your goals, you’re not alone. Things change, priorities shift…
With every goal you set for yourself, you will be continuously inspired, challenged, and pushed to become the best version of yourself.
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Counsellors Title is initiating this feature of Title Wise called Life Quotes.
Oftentimes we are so busy doing that we forget the reason(s) why. Life Quotes are those mental speed bumps that we will occasionally come across and insert, just to rehearse the important things in life.
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A.S.A.P. Attorney Settlement Assistance Program
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Our real estate secretarial services are able to assist you in every aspect of the sale, purchase, refinance or loan closing process. We will directly communicate with all the parties involved in the transaction and coordinate and obtain all the items necessary to bring the matter to closing.
Our ASAP services can be individually customized to fit your needs. These services include:
- Documentation Preparation
- Disbursement of Funds
- Attendance at Closing
- HUD Preparation or
- Post-Closing Matters
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Our Commitment to Excellence |
Counsellors Title Agency wants to thank you for the opportunity to work with you and your clients to grow your business. Please feel free to click the link above or here to leave us a review on Google. We appreciate your business. |
Sales: Leading NJ title insurance agency seeks experienced licensed salespersons to help expand its market share throughout the entire state. Benefits include health insurance, 401k with an employer match, flexible spending account, expense account, & marketing support. Send resumes by fax: 732-914-8898 or ralph@counsellorstitle.com
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Free Online Title Insurance Calculator |
Counsellors Title Agency announced its updated Title Calculator for New Jersey home purchases & refinances at: Title Calculator
Loan officers, real estate agents and home buyers can find out how much title insurance will cost for purchases made in New Jersey.
Easy-To-Use Functionality
This online tool includes many of the endorsements involved in calculating the cost of a title policy in New Jersey. CTA's Title Calculator is a great tool for real estate salespersons, loan officers, attorneys and those who are buying or refinancing their home.
It calculates the cost of title insurance based upon the purchase price of the home, the loan amount, and the various endorsements that can accompany the loan. The calculator provides the user the scalability of selecting the various endorsements involved in the transaction.
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Handy Guide to Real Estate Sources |
Here are some of the most widely used governmental websites for the real estate industry.
I look forward to being of service to you, providing you with outstanding real-time information and some humor to make doing business a pleasure.
Sincerely,
Ralph
Ralph Aponte
Counsellors Title
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Counsellors Title Agency, Inc. specializes in providing title insurance, title search services and loan closing services serving attorneys, Realtors, banks and various mortgage companies throughout the State of New Jersey. CTA offers full search and insurance capabilities within all 21 counties of New Jersey for commercial, residential and new construction purchases in our Toms River, Freehold, Chatham, and Union locations.
CTA is equipped with the latest digital technologies to ensure a complete and timely transaction.
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Mr. Ralph Aponte
Our Office: 504 Hooper Avenue,
Toms River, NJ 08753
Phone Number: (732) 914-1400
Fax: 732-914-8898
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