New homes being built in Tenafly
The east hill in Tenafly is on fire with new home construction…and they’re your run of the mill average homes. These ultra luxury homes are anywhere from 6,000-9,000sf + on one acre…with values ranging from $3.0-$4.5 million.
And luckily for us taxpayers, the tax increases for these homes compared to the older homes that were knocked down is a whopped…a 50-100% increase in property taxes per new home.
The tax increase from new home construction is something that the Tenafly School board doesn’t talk openly about. They like to hide this new found money, so they can still go for their yearly tax increases.
Like I said on previous post regarding the housing market in Tenafly…IT’S HOT!