Category Archives: Politics

NJ’s “new normal” an unwelcome reality

Posted on August 3, 2010 by grim
Posted in Economics, New Jersey Real Estate, Politics | 97 Comments

From Bloomberg: NJ Assembly panel to discuss possible shortfall Just weeks after New Jersey’s current budget went into effect, a dispute is simmering over projections of a possible $10.5 billion shortfall when officials start compiling next year’s spending plan. The … Continue reading →

Las Vegas East? When is the razing scheduled for, Governor?

Posted on July 22, 2010 by grim
Posted in New Development, Politics, Shore Real Estate | 118 Comments

From the Star Ledger: Gov. Christie pledges to turn Atlantic City casino district into ‘Las Vegas East’ With more flair than a traveling road act, Gov. Chris Christie stood on the 50-yard line of the New Meadowlands Stadium today and … Continue reading →

Looking down the barrel

Posted on July 20, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 182 Comments

From the Star Ledger: N.J. faces $10.5B budget deficit heading into next year New Jersey faces a $10.5 billion budget deficit heading into next year — nearly the same size as the gap that opened up before this year’s spending … Continue reading →

CAP 2.0%! (But will it help?)

Posted on July 13, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 168 Comments

From Bloomberg: Christie Signs 2% Cap on New Jersey Property Taxes New Jersey Governor Chris Christie, whose state has the highest property taxes in the U.S., signed legislation capping annual increases in the levies at 2 percent. The measure reduces … Continue reading →

Let it sink into the swamp

Posted on July 9, 2010 by grim
Posted in New Development, New Jersey Real Estate, Politics | 214 Comments

From the Record: Xanadu may get $180M from state Meadowlands Xanadu developers, after more than a year of looking for new investors, may soon add an important new partner: you, the state taxpayer. Three sources familiar with a proposal under … Continue reading →

Lower cap looks likely, but will it be 2.9% or 2.5%?

Posted on June 21, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 193 Comments

From New Jersey Newsroom: Sweeney to propose 2.9 percent cap on N.J. property tax hikes Contending a cap on property tax hikes needs “realistic numbers,‘’ Senate President Stephen M. Sweeney (D-Gloucester) Monday will introduce a proposal to set a cap … Continue reading →

NJ Sales Plunge – Realtors Beg For Bailout

Posted on June 19, 2010 by grim
Posted in Economics, New Jersey Real Estate, Politics | 224 Comments

From the NY Times: Reviving a Housing Market in a Swoon ACCORDING to the early evidence, the New Jersey residential market went a bit weak in the knees in May — or even swooned — after the federal home buyer … Continue reading →

Will consolidation ever happen?

Posted on June 16, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 284 Comments

From the Star Ledger: Gov. Christie says property tax cap could force N.J. town, school district mergers New Jersey’s notorious but beloved patchwork of towns and school districts could be transformed under a new limit on annual property tax increases, … Continue reading →

Madoff victims screwed by NJ

Posted on June 14, 2010 by grim
Posted in Politics | 240 Comments

From the Record: Kelly: N.J. refuses to return Madoff victims’ overpaid taxes If you invested with convicted Ponzi scammer Bernie Madoff and you live in New Jersey, you may have gotten robbed twice. First, Madoff fleeced you. Then, Trenton likely … Continue reading →

Deeper into the hole we go

Posted on May 25, 2010 by grim
Posted in National Real Estate, Politics, Property Taxes | 334 Comments

From the Daily Record: State revenues continue to fall short State revenues continue to fall below projections, putting New Jersey in potentially tighter budget squeeze. A new analysis by the nonpartisan Office of Legislative Services predicts that taxes and other … Continue reading →

Paying for Unemployment

Posted on April 5, 2010 by grim
Posted in Economics, New Development, Politics | 345 Comments

From the APP: NJ unemployment fund: Short of cash Christopher Nagy, a carpenter from Bradley Beach, was called into his employer’s office on Christmas Eve 2009 and told that not only would he not receive a bonus this year, but … Continue reading →

Shared Sacrifice

Posted on March 19, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 502 Comments

From the Record: Property tax rebates may vanish this year Property tax bills in New Jersey have gone up 56 percent since 2001. But the rebate checks that once offset those bills by as much 20 percent may vanish this … Continue reading →

If schools suffer, are NJ homes worth the price and taxes?

Posted on March 18, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 603 Comments

From the Star Ledger: N.J. school district officials say Gov. Chris Christie budget cuts will force program, staff cuts Gov. Chris Christie sent suburban and urban school districts reeling today with the release of district-by-district state aid figures that cut … Continue reading →

“I’m not going to spend this state further into debt and I’m not going to tell you a happy story…”

Posted on February 19, 2010 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 619 Comments

From the Star Ledger: Gov. Chris Christie warns N.J. districts school aid could be cut 15 percent in next budget With school districts still reeling from the midyear budget cuts he announced last week, Gov. Chris Christie said today he … Continue reading →

Will the last one out please turn off the lights

Posted on February 4, 2010 by grim
Posted in Economics, New Jersey Real Estate, Politics | 422 Comments

From the Star Ledger: N.J. loses $70B in wealth during four years as residents depart More than $70 billion in wealth left New Jersey between 2004 and 2008 as affluent residents moved elsewhere, according to a report released Wednesday that … Continue reading →