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Property Taxes

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

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 …

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.

Culled From

first published: 2015-03-08 06:56:15[otw_is sidebar=otw-sidebar-11]

Categories
Property Taxes

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

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 …

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-11]

Categories
Property Taxes

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

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 …

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-11]

Categories
Property Taxes

Property Taxes News: Fix entire tax structure

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.

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-11]

Categories
Property Taxes

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

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 …

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-11]

Categories
Property Taxes

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

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 …

Article

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-11]

Categories
Property Taxes

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

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.

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-11]

Categories
Property Taxes

Property Taxes News: Tax collections rise 1 percent, business collections up more than $100 million

Summary of the Article

New York state collected $102.9 million more in business tax collections this … the second worst business tax climate in the country, just behind New Jersey. New York ranks among the worst in the country for income, property and …

Article

diana chelsea 10 2014 08

Chelsea Diana
Reporter- Albany Business Review
Email | Twitter

New York state collected $102.9 million more in business tax collections this year than last year, according to a new state report.

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first published: 2015-02-22 20:15:00[otw_is sidebar=otw-sidebar-11]

Categories
Property Taxes

Property Taxes News: Gas tax hike a non-starter at Montague pumps

Summary of the Article

For beleaguered New Jersey taxpayers, the nearly 40 percent decline in … estate tax, which he said would disproportionately benefit wealthier New …

Article

By ERIC OBERNAUER

eobernauer@njherald.com

For beleaguered New Jersey taxpayers, the nearly 40 percent decline in gasoline prices over the last 12 months has been the most welcome relief they’ve had in years.

And in a state renowned for its cheap gas but otherwise ranked routinely as having among the worst tax climates in the country, the impact of the state’s low gas prices can be seen in Montague and other points along the state line, where motorists and big-rig operators from out of state pour in by the thousands each day to fill up with cheap New Jersey gas.

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first published: 2015-02-23 05:26:15[otw_is sidebar=otw-sidebar-11]

Categories
Real Estate News

Real Estate Agent News: Bergen’s property taxes among nation’s highest

Summary of the Article

Nationally, property tax rates average 1.3 percent of the property value, … Real estate agents say that property taxes affect homeowners’ decisions …

Article

Bergen County homeowners had the fifth-highest average property tax bill in the nation, at $11,159, last year, according to a new survey by RealtyTrac, a California real estate information company. Passaic County’s single-family tax bill averaged $8,904, according to RealtyTrac.

The survey also confirms what Garden State homeowners have found out the hard way: New Jersey’s property taxes are among the highest in the nation, averaging more than 2 percent of a single-family home’s value each year.

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first published: 2015-03-02 22:18:45