<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

Does condo association need to pay property tax on loan?

| Board of Directors |   Condo Association Loans |  


Question:

We are a 42 unit association in Bergen County, NJ. The association owns the super's apartment which it recently took a loan against. The entire proceeds from the loan went to into maintenance of the units including common area repairs, vendor debts, etc... Does the association now have to pay property taxes on this unit?


Answers (23)

What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.
 

Related Posts

Looking for parking rules

Conflict as condo board member and paid property manager

Who pays for water damage in condo unit?