NJ Property Taxes up 7% in 2006

From the Daily Record:

NJ property taxes soar higher

The average property tax bill in New Jersey topped $6,300 last year, a 7 percent increase in what were already the nation’s highest property taxes, according to new state figures.

Even as Gov. Jon S. Corzine and legislators spent five months looking for ways to cut property taxes, the average bill rose from $5,914 in 2005 to $6,331 in 2006, according to numbers compiled by the state Department of Community Affairs.

The 7 percent increase last year was a bit less than in 2005, when property taxes — used to fund most county, municipal and school operations in the state — increased 7.3 percent.

The average Garden State property tax bill has increased from $4,961 in 2002, according to the DCA figures.

In all, $20.9 billion in property taxes was collected in 2006 in New Jersey, where property taxes are twice the national average.

The governor’s budget proposal also includes a $2.3 billion plan to cut property taxes by 20 percent for most homeowners. As the centerpiece of last year’s reform effort, it would provide a 20 percent cut to homeowners who earn up to $100,000; a 15 percent cut for homeowners who earn up to $150,000; and a 10 percent cut for homeowners who earn up to $250,000.

The plan, which Corzine has not yet signed into law, would provide an average $1,051 tax cut for homeowners.

Renters would also see tax help increased, with some getting more than four times as much property tax relief as they got last year.

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7 Responses to NJ Property Taxes up 7% in 2006

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    With the boom now a memory, a Denver neighborhood spirals downward

    By Alex Markels
    Posted 2/25/07


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  3. ralph says:

    I’m sorry Mr Corzine your “Rebate” is a insult to every taxpayer Property taxes are NOT to be baised on income ,however your tax rebate clearly is .you are a disgrace to us all ,you have no backbone please resign so someone with resolv can stand up to the special intrest groups ,you have made it a sad to live in new Jersey

  4. RentinginNJ says:

    Posted Yesterday, but this may be a better spot…

    Did ‘800-lb. gorillas’ sit on property tax reform?
    Democrats say contributions by powerful special interest groups didn’t affect their votes

    Star Ledger http://tinyurl.com/2dmn39

    Hours before they were scheduled to consider a controversial package of bills aimed at reining in local property taxes on Dec. 14, top Democrats in the state Assembly hosted the state’s lobbyists at a breakfast — for $1,000 a head.

    The “Breakfast Reception Honoring the Assembly Democratic Caucus” raised funds for this November’s legislative election campaigns, including at least $12,000 from state worker unions and thousands more from other groups concerned about cost-cutting provisions in property tax reform bills.

    That evening, the Assembly adjourned without taking action on the most substantial of the reform measures.

    Lobbying reports released yesterday show groups with the biggest stake in property tax reform spent more than $1.9 million last year to influence lawmakers. At the same time, key legislators extracted nearly $569,000 in campaign contributions from the same groups.

    Labor unions, teachers, contractors, school officials, mayors, business groups — the “800-pound gorillas” that Gov. Jon Corzine exhorted lawmakers to resist in their drive for tax reform — kept the heat on throughout the long special session.

    Lobbying expenditures by two prominent unions — the New Jersey Education Association, representing teachers, and the Communications Workers of America, representing state workers — topped $675,000 last year, state Election Law Enforcement Commission reports show. That was double what the two groups spent pressing their issues in Trenton in 2005, according to ELEC records.

    The two unions, which staged a noisy Statehouse rally of 7,000 protesters in December, also added $335,000 in campaign contributions to the cost of the effort. That pushed their total expenditures to more than $1 million last year.

    The union leaders said the efforts were needed to preserve their benefits. They maintain they did not get everything they wanted.

  5. lastangryman says:




  6. J C says:

    LOL.. this time next year you’ll wish it was ONLY 7%…with the new budget I see taxes up 9% to 14%..enjoy your summer folks and save for the future

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