essay jersey money
The borough reassessed all the property over the last couple of months, and in the eight years we've lived here the assessed value has more than doubled over the purchase price. That translates to an annual rate of 10.35% appreciation. Now we wait with nervous anticipation to see what the new property tax rate will be next year and what effect this will have on our mortgage payments.
We have already dipped into the equity to pay for Pam's car and for some of the startup money for the business. I do not think we want any more leverage right now, living a life fraught with uncertainty.
It's hardly an original thought, but I'm wondering why I don't feel wealthy after all this.