Category Archives: Property Taxes

Thank Trump for fixing NJ’s property tax issue

From CNBC: One surprising way to beat the SALT deduction cap: Move to a nearby town A few years ago Dawn Donaghy and her husband, Raymond, made a decision that many residents in high-tax states make. They wanted to move. … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 58 Comments

Uh oh.

From the Star Ledger: N.J. revenues continue to slump, and Trump tax reforms are blamed New Jersey’s state budget is really feeling the effects of the federal tax reform hangover now. Last month, Gov. Phil Murphy’s administration warned tax revenues were … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, Politics, Property Taxes | 105 Comments

Thank goodness Cuomo’s our governor … wait

From Newsday: Cuomo to meet with Trump to seek end of cap on SALT deductibility Gov. Andrew M. Cuomo said he is scheduled to meet with President Donald Trump on Tuesday to press his effort to overhaul Trump’s tax plan, which … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 108 Comments

Tax those who attempt to leave

From Fox News: Mansion sales rise in Florida as wealthy buyers are drawn to its low taxes and sunshine Is bigger really better? It’s true to Florida buyers. Many wealthy buyers are moving to the Sunshine State for higher ceilings … Continue reading

Posted in Demographics, Economics, Property Taxes | 140 Comments

Shore only for the rich

From the Star Ledger: New rental tax worries some shore renters, homeowners A new tax in New Jersey on short-term lodging such as Airbnb rentals is rattling some property owners and renters who worry that it could deal a blow … Continue reading

Posted in Politics, Property Taxes, Shore Real Estate, Unrest | 29 Comments

SALT cap hits the Northeast … hard

From Bloomberg: Housing Is Tanking in the Northeast. Guess Why. Sales of new single-family houses were down 13.2 percent in September from a year earlier, the Census Bureau reported Wednesday. That’s a lot — the biggest year-over-year percentage decline since … Continue reading

Posted in Economics, National Real Estate, New Jersey Real Estate, Politics, Property Taxes | 70 Comments

The tax on shore rentals nobody knew about

From the Star Ledger: Summer-rental bill turns homeowners into tax collectors Former state Sen. Ray Lesniak recalls that when he was a kid his family would head down to Wildwood every summer looking for a vacation rental. “We’d just knock … Continue reading

Posted in Politics, Property Taxes, Shore Real Estate | 67 Comments

Are PILOTs good or bad?

From ROI-NJ: Is fixing PILOT regulations a way to fix school funding? Marc Pfeiffer, assistant director at Rutgers University’s Bloustein Local Government Research Center, said the last time payments in lieu of taxes were addressed in the state was 1992. … Continue reading

Posted in New Development, New Jersey Real Estate, Politics, Property Taxes | 37 Comments

Nothing will be done

From the Star Ledger: Huge change for N.J.: Public worker benefit cuts, merging schools, more toll roads pushed by top lawmaker Frustrated by endless growth in property taxes and public worker benefit costs, New Jersey’s most powerful lawmaker earlier this … Continue reading

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 89 Comments

Other peoples money

From the APP: Tax relief better be on the horizon if Phil Murphy wants to get re-elected For more than a decade, the Asbury Park Press has been a tireless advocate for property tax relief. We have written dozens of … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes, Unrest | 26 Comments

Blue states throw Republican strategy right back in their face

From Above the Law: States Are Suing For Their SALT Deductions Back Under The 16th Amendment The Republican tax bill famously capped the deductions for state and local taxes (SALT) at $10,000 for the purposes of federally taxed income. The … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 88 Comments

No exodus?

From The Real Deal: No exodus from California despite pressure from new fed tax plan: real estate pros While homeowners in high-tax states like New York and New Jersey may be packing their bags to move to Florida and Texas, … Continue reading

Posted in Demographics, Economics, National Real Estate, Politics, Property Taxes | 86 Comments

Glimpse into the future: NJ coming for your house

What happens when NJ can’t afford to pay it’s own taxes anymore? Rampant (fraudulent?) mismanagement of assessments? Detroit offers a glimpse into what to come in NJ. From the Detroit News: Study: Bad assessments prompt 10K Detroit foreclosures One in … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate, Politics, Property Taxes | 104 Comments

What the hell do accountants know about running business in NJ anyway…

From NJBIZ: State CPAs take dim view of economic future New Jersey’s accountants do not have a favorable outlook on the state’s economy. In a survey of 786 CPAs in the state conducted by the New Jersey Society of CPAs, … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 25 Comments

No tax doomsday? Yet?

From Bloomberg: Million-Dollar Home Values Gain Even as Tax Deductions Shrink Adam Blaylock was pretty sure he overpriced his Santa Clara, California, home by offering it in February for $1.48 million, since tax deduction changes would keep buyers away. But … Continue reading

Posted in National Real Estate, Politics, Property Taxes | 163 Comments