Four Seasons at Mirage: The Complete 10-Year True Cost — Including the Barnegat Tax Penalty

The full carrying cost of this gated K. Hovnanian community, with Barnegat's 1.95% rate (the county's highest major-town rate) quantified against lower-tax alternatives, the HOA reserve risk on a 25-year-old clubhouse, and the net cost after NJ relief.

Worked Example: $520K Purchase65+ Couple, $120K IncomeBarnegat 1.95% Rate (highest)

The Headline Number

For a 65-year-old couple with $120,000 joint income buying a $520,000 home at Four Seasons at Mirage with 30% down ($156,000), the all-in 10-year cost of ownership after all three NJ relief programs comes to approximately:

$435,270

That's about $43,527 per year all-in including mortgage. The pure carrying cost (excluding mortgage P&I that builds equity) runs roughly $1,265/month after relief — well above Holiday City's, reflecting the higher home value, higher HOA, and Barnegat's county-highest tax rate.

Full Line-Item Breakdown

Category	Year 1	10-Year Total	Notes
Mortgage P&I	$28,380	$283,800	$364,000 loan @ 6.75%, 30yr
Property Tax	$10,150	$105,100	1.95% Barnegat — county's highest major-town rate
HOA Fee	$2,820	$31,000	$235/mo, gated + resort amenities
Insurance	$2,100	$21,000	Higher value home
Maintenance	$5,200	$52,000	1% of value/yr
ANCHOR	–$1,750	–$17,500	65+, income ≤$150K
Stay NJ	–$3,325	–$33,250	50% of gross, net of ANCHOR (under $6,500 cap)
Net Total	$43,527	~$435,270

The Barnegat Tax Penalty — Quantified

The single most consequential and least-discussed factor in a Mirage purchase is Barnegat Township's 1.95% effective rate — the highest of any major Ocean County 55+ town. Here's exactly what that costs versus the same $520,000 home in a lower-tax town:

Town (Comparable Community)	Rate	Annual Tax ($520K)	10-Yr vs. Barnegat
Barnegat (Mirage)	1.95%	$10,150	—
Lakewood (lowest major town)	1.43%	$7,457	–$26,900
Toms River	1.50%	$7,816	–$23,300
Jackson (South Knolls)	1.55%	$8,034	–$21,200
Lacey (Sea Breeze)	1.78%	$9,266	–$8,800
Little Egg Harbor (Sea Oaks)	1.86%	$9,672	–$4,800

Choosing Mirage over an equivalent-priced home in a lower-tax town costs roughly $21,000–$27,000 in additional property taxes over 10 years (vs. Jackson or Lakewood). That doesn't make Mirage a bad choice — Barnegat's LBI proximity (15 min to the beach) is a genuine quality-of-life benefit many buyers value above the tax difference. But it's a bigger gap than most buyers realize, and should be a conscious decision, not a surprise on your first tax bill.

The HOA Reserve Risk on a 25-Year-Old Clubhouse

Mirage's 23,000 SF clubhouse was built in the late 1990s and early 2000s. Major mechanical systems are reaching end-of-life. Indoor pool equipment, HVAC for a 23K SF facility, roofing, and the building envelope all require significant capital reinvestment in the coming years. If the HOA's reserve study shows a funded ratio below 70%, budget for a potential special assessment — these can run $2,000–$8,000 per home for major clubhouse renovations. Request the most recent reserve study and the board's capital improvement plan before closing. The $235/month fee is attractive only if the reserves behind it are adequate.

Net Carrying Cost After Relief: The Number That Matters

Strip out the mortgage (equity-building) and focus on pure carry — taxes + HOA + insurance + maintenance minus relief:

Pure Carry Component	Annual
Property Tax	$10,150
HOA	$2,820
Insurance	$2,100
Maintenance	$5,200
Less ANCHOR + Stay NJ	–$5,075
Net Annual Carry	~$15,195 ($1,266/mo)

Four Seasons at Mirage Community Overview →What Nobody Tells You About Mirage →Mirage vs. Greenbriar Oceanaire →Jackson vs. Barnegat Tax Comparison →Ocean County Hub →

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