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Property Taxes

Property Taxes News: Should the State Offload Teacher Retirement Benefits Onto Local School Districts?

Credit: Governor’s Office/Tim Larsen

In New Jersey, school districts pay the salaries of their teachers, but it’s the state that picks up the costs of their retirements. Cities and towns, meanwhile, cover their employees’ salaries as well as their retirement costs.

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Summary of the Article

The average New Jersey property tax bill rose to a record high of $8,161 last year, while state Homestead property tax credits were pushed into 2015 …

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Article

christie

Credit: Governor’s Office/Tim Larsen

In New Jersey, school districts pay the salaries of their teachers, but it’s the state that picks up the costs of their retirements. Cities and towns, meanwhile, cover their employees’ salaries as well as their retirement costs.

That split responsibility is at the heart of one of the core elements of the sweeping changes to public employee benefits that were put forward last week by the nonpartisan commission of experts impaneled by Gov.

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first published: 2015-03-01 06:11:15[otw_is sidebar=otw-sidebar-2][otw_is sidebar=otw-sidebar-11][otw_is sidebar=otw-sidebar-3][otw_is sidebar=otw-sidebar-5]