How do property taxes work for condos and townhomes?
By Bob Millaway, South Jersey Community Expert & REALTOR®
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.
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