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Forum
-> Inquiries & Offers
-> Lakewood, Toms River & Jackson related Inquiries
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amother
Slateblue
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 Sun, Mar 03 2019, 4:45 pm
We're thinking of finishing our rough attic in Lakewood. We would get two bedrooms and a full bath, plus a hall closet and a "half" room where the HVAC components are. We live in a duplex.
Anyone have a price estimate? We'd use basic finishes.
Also, how does this affect your monthly property taxes? I called the Tax Office in Lakewood and they said I'd need to do the work first before they can tell me how much it'll cost me 
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amother
Ruby
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Sun, Mar 03 2019, 4:53 pm
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No idea about taxes but our estimate for exactly what you listed was in the 30k range
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amother
Slateblue
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Sun, Mar 03 2019, 9:54 pm
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Thanks for the response. I'm also really interested in property taxes information. Anyone? How much did your taxes go up after you finished your attic?
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amother
Copper
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Sun, Mar 03 2019, 10:01 pm
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Not condoning or reccomending but I do have a feeling that lots of ppl wouldn’t have their house re-evaluated for tax after doing their attic....
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amother
Slateblue
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Sun, Mar 03 2019, 10:07 pm
I'm not really sure how that's possible- you need permits for water, electric, new HVAC, etc. and I believe the building department comes down to inspect and then automatically gives the information to the tax office.
Either way, I'd be doing it properly, with permits, and I want to make sure we can afford the extra monthly expense before putting so much money into this project.
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amother
Rose
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Sun, Mar 03 2019, 10:36 pm
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I'm curious to know this also. I heard that it adds a lot to property taxes. Much more then a basement. I'm in a duplex and I know someone else who bought a duplex with the attic already done and her taxes were a few thousand more then mine.
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amotherof3
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Mon, Mar 04 2019, 2:32 am
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No guarantees, but taxes should only go up based on the actual amount that you spend on the work. The current tax rate in Lakewood is approximately 2%. So if you multiply the amount that you spend on finishing your attic by 2%, that should be the annual increase in taxes for your finished attic. Hope this helps!
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amother
Slateblue
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Mon, Mar 04 2019, 9:09 am
That's so interesting! I've heard it might be based on square footage or on number of bedrooms, but I never heard this formula. This would add very little- based on the $30,000 bill quoted earlier, it would be only $600.
Can anyone who's done it chime in with actual numbers? The range of a few hundred to a few thousand is really broad and makes a difference to my monthly budget!
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