Ask Bob Property Taxes How do property taxes work for condos and townhomes?
Back to Property Taxes

How do property taxes work for condos and townhomes?

Condos and townhomes are taxed on their individual assessed value, just like single-family homes. The difference is that a portion of your taxes goes toward common area maintenance and shared amenities through your HOA or condo association fees. Your tax bill reflects only your unit's assessed value, not the common areas.

Why It Matters

When comparing a condo to a single-family home, factor in both the property taxes and the HOA fees for an accurate monthly cost comparison.

Related Questions

How are property taxes calculated in New Jersey? How do I appeal my property tax assessment? What is the NJ annual property tax deduction? What is a tax assessment and how often is it done? How do property taxes affect my monthly mortgage payment?

Still Need Help?

Bob answers every question personally. Send your question directly to him.

Ask Bob Directly