From the Daily Record:
Poll: NJ taxpayers doubt relief is coming
BY TOM HESTER JR.
As an influential senator today supported cutting the nation’s highest property taxes by restricting how much property value is taxed, a new poll found most New Jerseyans doubt a major property tax cut is coming.
…
Kenny’s support for a classification system indicates the idea may be gaining momentum, but comes as a Rutgers-Eagleton poll found 70 percent of New Jerseyans think it’s “not very likely” or “not likely at all” the Legislature will slice property taxes by a significant amount. New Jersey property taxes are twice the national average.
…
Among Republicans and independents, the poll found 77 percent doubted significant reductions are coming, compared to 60 percent of Democrats.“That 60 percent of Democrats — the party that controls both chambers of the Legislature and holds the governor’s office — don’t believe there will be significant change speaks volumes about the level of skepticism in New Jersey,” Edelman said.
The Rutgers-Eagleton poll surveyed 804 adults from Sept. 24-26 and has a sampling error margin of about 4 percentage points.
…
Half of those surveyed were asked if they would support merging schools with a more affluent community: 56 percent favored it while 37 percent were opposed.The others were asked whether they would support merging with a less affluent school, and 45 percent favored its while 47 percent were opposed.
“People are willing to consider combining services, but not if they think they might lose something in the process,” Edelman said.
Overall support for merging local government services increased, with 54 percent favoring mergers, up 5 percentage points from January 2004.
There is some new info on the Kara Homes bankruptcy over at the Shore Bubble Blog.
jb
There is no way a tax cut is coming, unless there is a reduction in spending.
And you know the saying, wish in one hand, and you know what in the other.
SAS
From the Record:
Corzine wants tax-hike cap
By JOHN P. MCALPIN and WILLIAM LAMB
Property tax increases should be capped at 3 to 4 percent a year to ease the pain for homeowners and to ensure officials don’t keep spending, Governor Corzine said Wednesday night.
Speaking at Bergen Community College in Paramus, Corzine added that the state Legislature could consider such a proposal as part of its current effort to find ways to cut taxes.
“I think we need to build caps into the system so we sustain this over time,” Corzine said.
Who is Corzine kidding? A 4% per year cap isn’t a cap at all, there is no reason property tax increases should be significantly higher than inflation…
…and I’m sure this is from current levels.
I’m even more sure that if there is a cap of 4% yearly, you can guarantee we’ll hit the cap every year.
A 4% a year increase over 10 years is 48%.
jb
From Yahoo Finance:
The Hottest Part of the Housing Market: Taxes
Home prices may be slowing, but property taxes are heading nowhere but up. Don’t get mad – get relief.
Homeowners across the country are angry about their property taxes, and it’s no wonder.
Skyrocketing home values and sticky-fingered politicians combined to push property tax collections up 35% from 2002 to 2006, according to the U.S. Census Bureau.
That’s double the rate of personal income growth, and the consumer backlash has intensified. Tax-cut proposals are being considered in at least 15 states, the National Taxpayers Union reports.
Despite all of this activity, campaigning to change property tax rates is difficult at best. It’s far easier to challenge your own tax bill. If you’re enterprising, you can often find ways to get a tax cut without becoming a modern-day Patrick Henry.
The unfairness of levying a substantial tax on an essential need, regardless of ability to pay, lies at the heart of the argument against property taxation.the ASSHOLES that run this state just don’t get ,they have ruined a great state it’s just mind blowing we have all put up with this crap or so long !