The annual postcard from my township assessor arrived. At first glance it looked like good news. The appraisal of my New Jersey coast home was lower by almost $60,000, which indicated that this year’s taxes should go down.
Then I thought about it. There was a reason why the assessment was less. Assessments reflect housing values, and my house, like most others in the Long Beach Island area of Ocean County, had been flooded by Superstorm Sandy.
Now we, as homeowners, will be faced with a myriad of new problems and all of them, in some way, seem to involve insurance. My conclusion: it is getting more and more difficult to either repair — or sell — our homes. (continue reading…)