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Property Taxes

Property Taxes News: 7 Potential Costs of Owning a Home That Should Factor Into Your Budget

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Summary of the Article

You can also compare tax rates across the country. For instance, New Jersey, Texas and Nebraska have some of the highest property taxes; Hawaii, …

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Article

Dear Readers: I get a lot of questions regarding the costs of owning a home, typically about saving for a down payment or paying off a mortgage. But homeownership involves numerous other costs that can impact your budget. So as the spring homebuying season gets underway, I thought it would be a good time to step back and look more closely at the ongoing financial realities.

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first published: 2015-03-10 04:05:29[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: On A.C. casino tax plan, Christie, Legislature play waiting game

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Summary of the Article

They face an April 1 deadline to file appeals of their propertytax … The Casino Association of New Jersey, which represents the eight casinos, lined …

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Article

Suzette Parmley, Inquirer Staff Writer

Posted: Monday, March 9, 2015, 1:07 AM

partnerIcon Inquirer 20143

ATLANTIC CITY – A measure aimed at stabilizing this city’s taxes has stalled in the Statehouse, just three weeks before a deadline for the casinos to challenge their assessed value in a shrinking gaming market, leaving embattled Atlantic City Mayor Don Guardian caught between two of the state’s most powerful politicians.

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first published: 2015-03-08 06:56:15[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Senate President Calls for Millionaire’s Tax to Help Close State Pension Gap

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Summary of the Article

Assembly Speaker Vince Prieto (D-Hudson) said though income tax revenue is generally dedicated in New Jersey’s budget to propertytax relief, he’s …

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Article

sweeney

Credit: Newsworks
State Senate President Stephen Sweeney (D-Gloucester)

Last month’s court ruling calling on Gov. Chris Christie and lawmakers to come up with another $1.6 billion in funding for the public-employee pension system before the current fiscal year ends has renewed debate about whether millionaires in New Jersey should be asked to pay more to keep the state budget balanced.

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first published: 2015-03-08 05:26:15[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Property tax drop: NJ towns share their strategies

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Summary of the Article

Garden State municipalities saw their average property tax bills increase by an average of 2.2 percent in 2014, but some actually managed to deliver a …

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Article

Garden State municipalities saw their average property tax bills increase by an average of 2.2 percent in 2014, but some actually managed to deliver a drop in property taxes to their residents, which is not an easy task in a tax-heavy state like New Jersey.

Steven Fulop
Jersey City Mayor Steven Fulop (AP Photo/Julio Cortez, File)

According to the Christie administration, more than 85 towns, school boards and other local entities experienced a drop in taxes from 2013 to 2014.

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first published: 2015-03-08 04:07:30[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Op-Ed: To Get the Answers About Atlantic City, Ask the Right Questions

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Summary of the Article

The closings, and the loss of propertytax revenues, would substantially … If market uncertainty affects other New Jersey local governments, then the …

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Article

marc pfeiffer

Marc Pfeiffer

In late January, Gov. Chris Christie issued an executive order appointing experts in restructuring private businesses to look at Atlantic City’s well-publicized financial challenges and recommend ways to address them. His action resulted in a flurry of financial-market concerns about Atlantic City’s fiscal future, but also raised questions about the state’s fiscal commitment to other cities.

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first published: 2015-02-22 07:09:06[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Fix entire tax structure

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Summary of the Article

The ranks of neighboring states are New York, 50; New Jersey, 49; Delaware, 13; Maryland, 41; Virginia, … They won’t mandate property tax reform.

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Article

Many state legislative leaders are alarmed because their fellow Republican, Gov. Rick Scott of Florida, plans a foray into the commonwealth this week to try to poach businesses and jobs. They choose to blame a single issue, the state’s unduly high 9.9 percent corporate income tax rate, as if it exists in a vacuum.

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first published: 2015-02-22 09:00:00[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Tax battle at Morristown Medical Center could bring financial pain to hospitals statewide

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Summary of the Article

“This is the first case where the issue is the main hospital,” said Wolfe, who teaches a course on property tax exemptions for the New Jersey Institute of …

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Article

MORRISTOWN — Two hundred and thirty-eight years ago, George Washington put this north-central New Jersey town in the history books when he used it as a wintertime encampment during the colonies’ bid to break from British rule.

Now, Morristown is involved in another battle — this time, with its biggest employer — that could have major implications for some of New Jersey’s biggest institutions.

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first published: 2015-02-22 12:22:30[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: N.J. residents feeling more upbeat about quality of life, poll finds

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Summary of the Article

A crumbling infrastructure and the state’s exorbitant property taxes are still no deterrent to New Jerseyans, apparently. More than three in five (63 …

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Article

A crumbling infrastructure and the state’s exorbitant property taxes are still no deterrent to New Jerseyans, apparently.

More than three in five (63 percent) asked call the Garden State a good (48 percent) or excellent (15) place to to live, according to a Monmouth University poll released this morning.

Another 25 percent of the 805 adults surveyed answered “only fair,” while 11 percent rated New Jersey a poor place to call home.

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first published: 2015-02-22 14:04:51[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: Fulop promises no tax increase in Jersey City budget

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Summary of the Article

Jersey City taxpayers won’t get a tax cut or tax hike this year, with Mayor Steve … said stable taxes will be possible thanks to an increase in property tax ratables, … The extra revenue will allow the city to pay for 50 new cops, 30 new …

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Jersey City taxpayers won’t get a tax cut or tax hike this year, with Mayor Steve Fulop announcing this morning that he will present the City Council with a budget that has a stable tax levy.

In a statement, Fulop said stable taxes will be possible thanks to an increase in property tax ratables, a boost in revenue from the city Municipal Utilities Authority, a jump in tax abatement revenue and more.

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first published: 2015-02-22 15:38:54[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]
Categories
Property Taxes

Property Taxes News: State’s effective property tax rate bests US average

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Summary of the Article

States with the highest effective property tax rates were New York, at 3.01 … 2.15 percent; Connecticut, 2.11 percent; and New Jersey, 2.01 percent.

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Article

Washington’s effective property tax rate in 2014 was lower than the national average, according to a study released Tuesday by RealtyTrak, a California-based housing research firm.

Washington’s average effective tax rate in 2014 was 1.06 percent, compared to a national average of 1.29 percent, RealtyTrak said. Oregon’s rate was 1.18 percent.

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first published: 2015-03-03 14:03:45[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]