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

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 at 2.9 percent instead of the 2.5 percent sought by Gov. Chris Christie.

The cap issue is expected to be decided before the Legislature adjourns for the summer at the end of the month.

The Sweeney plan would allow for “cap banking,” meaning that communities that keep increases below the cap would be able to set-aside the difference for future use should an emergency arise that would require a budget to increase property taxes above the cap.

“Certainly, New Jersey needs a solid cap, but it has to be a realistic cap based on realistic numbers,” Sweeney said. “We have to accept that New Jersey is not Massachusetts, where their cap has been met with uneven reviews. We need a cap that will fit the needs of our state and our communities, and this is a proposal that does.”

Sweeney argues that since New Jersey implemented a 4 percent in 2007, property tax increases have dropped demonstrably. He said last year, property tax increases averaged 3.3 percent. Before the cap law was enacted, increases averaged roughly 7 percent.

“The current cap law has been a success, but that doesn’t mean we can’t improve upon it,” Sweeney said. “If the cap can contain property taxes to their lowest increases in a decade, then a tighter cap can definitely push increases well below the governor’s magic 2.5 percent goal.”

Sweeney said that allowing communities to bank against the cap would give them greater long-term flexibility. He said towns and school districts would be more apt to budget below the cap if they know they can tap into the difference should an emergency arise.

This entry was posted in New Jersey Real Estate, Politics, Property Taxes. Bookmark the permalink.

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

  1. grim says:

    From the Star Ledger:

    N.J. Assembly preps for long-shot bid to rescue millionaires tax

    The New Jersey Assembly today is set to make a longshot bid to try to override Gov. Chris Christie’s veto of the millionaires tax.

    Christie vetoed the tax minutes after the Legislature passed it along party lines last month.

    The proposal would raise about $600 million by increasing the income tax by nearly 2 percent on the state’s 16,000 highest wage earners.

    Democrats want the money to restore property tax rebates to senior citizens and the disabled. They also want to put Republicans on the record of voting against the proposal twice.

  2. grim says:

    From the Record:

    N.J. school cuts won’t stop lobbyists

    The publicly financed lobby for New Jersey’s school boards is spending millions to renovate its Trenton headquarters, even as local districts face massive state aid cuts, defeated budgets and construction proposals, and pending teacher layoffs.

    The New Jersey School Boards Association collects more than $7 million a year from 588 member districts, which are legally required to join. It has socked away so much in dues and conference fees — $12.3 million, an amount greater than the group’s annual operating budget — that it is paying cash for the improvements.

    Critics say the spending sets a bad example, particularly when New Jersey government and taxpayers are telling schools to cut back.

  3. whipped says:

    Anyone having success getting their re taxes reassessed and reduced?

  4. freedy says:

    is any hope left for NJ? and how is the spring selling season going ?

  5. grim says:

    AC is done

    From the WSJ:

    Neighbors Raise Stakes on New Jersey

    With the chips down for Atlantic City’s recession-scarred gambling industry, New Jersey’s neighbors are raising the stakes higher than ever by bolstering their casino operations.

    Table games such as blackjack, poker and roulette will be introduced in Pennsylvania next month, putting the state’s casinos on par with those in New Jersey. Delaware turned up the heat on Atlantic City, adding table games last month.

    Loosened gambling restrictions in both states stem from state legislators’ efforts to fill budget gaps by keeping gambling dollars at home.

    The recent proliferation of Northeast gambling, paired with the recession, has taken an enormous toll on Atlantic City, the nation’s second largest gambling market after Las Vegas. “We’re getting hammered from every which way right now, and nobody is standing up for Atlantic City’s survival,” said New Jersey state Sen. Raymond Lesniak, a Democrat from Union.

    Without something to differentiate Atlantic City casinos from those in surrounding states, many gamblers are deciding where to bet strictly on geographic grounds. “Those types of players have no reason to go to Atlantic City anymore—they have too many other choices,” said Israel Posner, executive director of the Institute for Gaming Management at Richard Stockton College in Pomona, N.J.

    The list of choices in the Northeast seems likely to become even more crowded in the future. Aside from Philadelphia getting its first casino—the SugarHouse, which is slated to open in September—the federal government recognized Long Island’s Shinnecock Indian Nation last week, making it likely the tribe will at some point build a casino in New York. Massachusetts lawmakers are debating expanding gambling, which would include licensing numerous casinos. And Maryland is readying its first casino, Hollywood Casino Perryville, for this fall.

  6. grim says:

    From the APP:

    Asbury Park gay community has helped the city’s resurgence

    In 2001, Martin Santomenno bought a home in Asbury Park, a place for a vacation escape just a little over an hour from New York City.

    Three years later, he and two family members purchased the old Hotel Tides on Seventh Avenue. They later spent more than $2 million to renovate and turn it into a 20-room establishment.

    In doing so, he joined other members of the gay community who settled in the city and later opened businesses, planting roots … and money … in Asbury Park.

    “Because I was familiar with it, it was a no-brainer,” Santomenno said. “It was kind of like, ‘This is my home. I live a block away.’ It seemed to be the right thing to do.”

    The city has seen highs and lows. Once a commercial powerhouse, anchored by department store Steinbach and other retailers, its downtown fell into steep decline in the 1970s and ’80s, until few businesses remained.

    But Asbury Park has benefited over the past decade or so from a surge in the gay and lesbian community.

    Gay people have opened shops and restaurants, joining deep-pocketed investors. It’s difficult to put a dollar figure on it, but the community’s overall influence on the city’s recent economic development is profound.

  7. freedy says:

    Steve Wynn was AC’s last hope. He took a look and passed.

    AC is Fked

  8. Essex says:

    2. I think as more states dump tenure laws and the folks who have been members less than 10 years and watch as the older, well compensated people ho-hum as the new teachers (members) are laid off, this pyramid scheme will end. If it were not mandatory for people to join and the tenure rules were trashed (as seems to be the trend), no one would see a reason to pay $1000 a year to belong. Fascinating to watch.

  9. Final Doom says:

    I cannot help thinking that organized crime has some sort of foothold within NJEA. The tactics they use, their policies, their exorbitant dues and they way their bigwigs are compensated all screech “Mafia” to me.

    Even if it’s not true, CC should imply that connection. It’s time to fight dirty.

  10. Essex says:

    What’s really funny is how inept and tone deaf the union is. Would not be shocked to see the mob involved either. Don’t they have a history of dabbling in ‘pension funds’. Wouldn’t that make the average school marm a little nervous.

  11. Final Doom says:

    We send little Johnny to school every day to be taught how to extort, lie, cheat and steal. And, if he doesn’t get taught that stuff, he gets taught nothing.

    Compliments of the NJEA, brought to you by the Genovese family of crime.

  12. Final Doom says:

    Little Johnny’s schoolmarm had better cough up those union dues and toe the party line, or she might find herself working a stripper pole at some Rt. 3 Bada-Bing…courtesy of your NJEA.

  13. Yikes says:

    I can’t find the mention of it, but over the last few days, Grim mentioned that Wall Street did more damage to this country in the last decade than BP has or will ever do.

    Yet Wall Street got major bailout.

    How come this isn’t being talked about more?

  14. Final Doom says:

    I think that right now, BP is questioning their “investment” in Bojangles.

    The only personality trait that even hints this guy has a pair is his ability to toss anyone under the bus if it suits even the most fleeting of political needs.

  15. Final Doom says:

    yikes (13)-

    Here’s a fun piece on all the damage we’ve already inflicted upon ourselves:

    “Who needs a wartime nuclear exchange when you have peaceful countries nuking the gamma rays out of their own sovereign territories – now that the environmental theme is rather popular, the following video by Isao Hashimoto shows all the nuclear “tests” conducted by the world in the period between 1945 and 1998. Based on public data, the world’s peaceful countries have already nuked themselves at least 2,054 times, with the US nuking the state of Nevada and its immediate neighbors about one thousand times. And keep in mind – the fallout does not just miraculously “disappear.” Feel free to consider that next time you look at bargain properties on the strip. Anyway, as Idealist.ws asks, “How would your life be different if you were taught in school a small nuclear war already took place?” One thing is certain – Congress would be stunned and appalled, and the disgraced CEO of Nukes R Us, Inc., who previously gave trillions in campaign contributions to every Congressional critter, would be facing a very unpleasant and theatrically televised day.”


  16. chicagofinance says:

    Rt. 17 d-bag…

    Final Doom says:
    June 21, 2010 at 7:20 am
    Little Johnny’s schoolmarm had better cough up those union dues and toe the party line, or she might find herself working a stripper pole at some Rt. 3 Bada-Bing…courtesy of your NJEA.

  17. NJGator says:

    Whipped 3 – Stu and I are going back for round 3 of that game. Appeal filed for this year, but no date scheduled yet (our town has 1,225 appeals filed for this tax year). We have been sucessful each year we filed, but our town’s assessments are based on market peak. It’s more difficult to do this if your town’s assessments are set below actual market value.

  18. Essex says:

    Doomy…..I trust this fellow. I have bought and sold with him many times.

    Take a look at this. It is a handmade variation on the guitar that you like:


  19. Fiddy Cents on the Dollar says:

    This TV ad was in heavy rotation on the NJ channel the past few days.


    Go here to read all about “Local Market Reports show there is much to gain from Homeownership” and “Pending Home Sales Surge Continuing”

    Sponsored by NJAR, hey…..it’s a Real Story to somebody.

  20. Yikes says:

    Clot, did you see the Portugal whitewash? 7-0. It got so bad … even Ronaldo scored.


  21. Jim says:

    Did you see that picture of Sweeney in the article? He looks like a used car salesman. I also love his quote, “Certainly, New Jersey needs a solid cap, …” Yea, NJ needs a solid cap as long as it can still go up! What kind of cap is that? Cap banking!? This guy is part of the problem not part of the solution.

  22. grim says:

    Just change the law, allow for foreign born presidents.

    At least this way I see Schwartzeneger turn into the presinator.

  23. make money says:

    22 Essex

    Powers that be need a good puppet and as long as he plays along this is a non story.

    How about focusing on something positive like Shiny?

    Doom is right about one thing…it will all end bad and our standard of living in ten years will be equivalent of Kenya.

  24. Rich52 says:

    Doom (9)

    Good one that’s hilarious. Unfortunately I think there is some truth to your ramblings.

  25. jj says:

    wall st did not get any bail-out in fact govt make a huge profit off the loan.

    Fannie and Freddie by far was biggest bail-out, then GM/Chrysler/GMAC and then AIG.

    Wall Street bonuses are taxed at 40% on top of a 40% corporate tax,

    Take one million profit corporate
    Fed/NYC/NYS tax is $400,000
    Company pays out $40% of profit as bonues which is $160,000 which is taxed again at 40% which is $64,000
    So every million in profit results in $464,000 in taxes

    By contrast GM/Chrysler/AIG/GMAC don’t make any profits so they pay no tax at corporate level and pay hardly any bonsues. Lending them money is a waste.

    GS, MS and JPM got lent a tiny fraction of the taxes they generate each year.

  26. Final Doom says:

    Chrissy Ronaldo scores against a bunch of guys who are probably being starved for losing to Brazil. What are the chances all the N Korean players get executed when they return home?

    Bojangles is an alien? The bigger problem is that he’s being gangbanged by TBTF banks and big oil…and he doesn’t even feel it.

    Today looks like a great chance to double down on some tasty short positions. This rally has the legs of a chihuahua.

  27. Essex says:


    I want my digital license plate to display four letter words……and warn tailgaters of impending death.

  28. Jamal Van Jones says:

    it will all end bad and our standard of living in ten years will be equivalent of Kenya.

    Hey! The president is feeling homesick. We can’t wait for 10 years.

  29. Yikes says:

    jj says:
    June 21, 2010 at 10:06 am

    wall st did not get any bail-out in fact govt make a huge profit off the loan.

    too much sun this weekend?


  30. Yikes says:

    and johnny boy, here’s more on the wall street bailout


  31. Confused in NJ says:

    I think Bill “Bojangles” Robinson, would be insulted to be compared to “O”. He actually was talented, humane, and a good American, serving in the Army during WWI.

  32. Anon E. Moose says:

    Yikes [20];

    Any hope Chairman Kim commits ‘honorable’ suicide over the embarassment? Nah, he’ll just execute a few players coaches.

  33. Outofstater says:

    OT: Finally got power back here in SW Michigan yesterday afternoon after 43 hrs w/o because of strong storms. No power=no water. We had lake water to flush with and bottled water for drinking and keeping clean but after the first 18 hrs, the novelty began to wear off. Seriously guys, get prepared. Kerosene lanterns, lamp oil, wicks, flashlights, extra batteries, a big bowl for washing, a drying rack, lots of ice in the freezer, a cooler for the ice, extra water and non-perishable food. If you have an electric stove, get a camp stove that runs on propane. The things that made us feel the best were washing our hands and faces with soap and cool water and drinking lemonade with ice in it. Simple, but so nice. Have to go out for food now – the entire contents of the refrigerator are now in the garbage.

  34. Final Doom says:

    ESPN has made a movie about Escobar. I think it is on TV this week.

  35. NJGator says:

    Montclair Mayor Bike Boy Fried on who’s to blame for our current budget crisis.


  36. Final Doom says:

    In another hopeful development:

    SEOUL, South Korea (AP) – Abnormally high radiation levels were detected near the border between the two Koreas days after North Korea claimed to have mastered a complex technology key to manufacturing a hydrogen bomb, Seoul said Monday.

  37. Comrade Nom Deplume says:

    [22] essex

    You going all birther on us????????

  38. Comrade Nom Deplume says:


    Today, feeling a lot like your former colleague. What’s funny is that I don’t think the misogynistic, misanthrope I work for realizes just how pissed off I am at him, and how much I want to toss him under a train.

    Or he truly doesn’t care. Sad part is, I don’t know which it is.

    And to think I was feeling bad for him yesterday because he never sees his kids. If I were his kid, I’d change my name and move to another country (now that I think about it, I think they actually did that).

  39. Mr Hyde says:

    Doom 15

    Some fun fallout maps of us nuke tests


    besides, whats the big deal. Its not like fishermen pull up old chemical weapons in their nets from t he military bupping them off shore. Its not like they ever injected plutonium into unknowing individuals.

    If we would just start using pure fusion nukes, then there isnt any fallout to worry about. Besides a relatively “clean” modern nuke detonated in a large city is probably less barbaric then WWII carpet fire bombing of cities like Dresden, Tokyo, or London.

  40. Mr Hyde says:


    question for you.

    Given the general choice between continued globalization or a retreat into protectionist trade policies which would you be supportive of ( in general terms and ignoring for the moment that fact the choice has essentially already been made)?

  41. Final Doom says:

    gator (37)-

    You really have to hope your town has a civil war.

    Problem is, if one broke out, I don’t think anybody would try to stop it.

  42. Final Doom says:

    hyde (41)-

    We got a billion people to kill. Time to get busy any way we can.

  43. Mr Hyde says:


    From yesterday regarding the whirlpool employee:

    I’m not trying to start another pissing match but want to understand your position. Are you saying its the case that the woman should have seen the writing on the wall by now and taken appropriate steps by moving location/jobs?

  44. Essex says:

    39. Hey dude….fairs fair. If he aint from here then we have President Biden. At least we got that, right?

  45. Mr Hyde says:

    Stater 35

    Get a propane cylinder from the local supplier (200 gallon or so) and a propane generator ( 5 – 10 KW, you could get a dual fuel gasoline/propane generator). That would be enough to provide heat and power for more then a week if run conservatively.

    Also get a 50 gallon rain barrel. If you lose power for a few days you use that for flushing. if you really want to be prepared buy a bag or 2 or lime. In the case os a weeks long intermittent power situation you could always dig a shallow latrine. you use the lime to cover any new “deposits”.

  46. Mr Hyde says:


    We got a billion people to kill.

    Thats it? I never thought of you as an underachiever….

  47. Essex says:

    I got kicked out of my local ‘TD’ bank last week. They closed my account after I scared the crap out of the Bank “Vice President” and used foul language in a place of business. I was also wearing a biker t-shirt and flip flops. They seem to think that a .61 cent overdraft is somehow worth $35.00 if they ‘pay’ it for you. Funny thing was that he reminded me that TD didn’t take any tarp money. I laughed cause they are a Canadian bank. Good Times!

  48. Comrade Nom Deplume says:

    [44] doom

    “We got a billion people to kill. Time to get busy any way we can.”

    I think you should follow Billy Shakespeare’s advice. Just let me retire first.

  49. Comrade Nom Deplume says:

    [42] hyde,

    That’s an interesting question but I am too tired, stressed, and absolutely pissed off to think coherently about it.

    Maybe tomorrow. I may have much more free time on my hands.

  50. New in NJ says:

    Anyone who spends any time in the EUTIMES pages will certainly contract a computer virus. I hope you have a strong virus / malware protection scheme and your defs are up to date.

  51. Libtard and the City says:

    I think EUTIMES readers are the virus!

  52. Nicholas says:


    You are required by law to “opt-in” to overdraft protection. If you did choose that service then it serves you right that you got charged 35.00$. That is unless you live in Canada.

    There are better ways to throw the hammer down on branch managers and tellers then scaring the crap out of them.

  53. Essex says:

    Middle Class–Not the Rich or the Poor–Pay Majority of Federal Taxes, Says CBO Data
    Monday, June 21, 2010
    By Terence P. Jeffrey, Editor-in-Chief

    (CNSNews.com) – Middle-class Americans–not the rich or the poor–pay the majority of annual tax revenues taken in by the federal government, according to data released in a new Congressional Budget Office study. Households earning less than $34,300 per year, meanwhile, actually pay a negative average federal income tax rate.

    Middle-class households that earned between $34,300 and $141,900 paid 50.5 percent of all federal tax revenues in 2007 (the most recent year analyzed), according to the CBO study released Thursday, and households that earned between $34,300 and $352,900 paid 66.7 percent of all federal taxes.

    Households in the top 1 percent for annual income (those earning more than $352,900) paid a healthy 28.1 percent of all federal taxes, but households in the lower income brackets paid relatively little. Those earning less than $34,300 paid only 5.2 percent of all federal taxes, and those earning less than $20,500 carried almost none of the federal tax burden (just 0.8 percent of the total) in 2007.

    The average overall federal tax rate (including income, Social Security, Medicare, excise and other taxes) for all American households was 20.4 percent in 2007. But the average rate rose dramatically as household income rose. Households earning less than $34,300 paid an average overall federal tax rate of 10.6 percent, while households earning more than $74,700 paid an average overall federal tax rate of almost two and half times that much–25.1 percent.

    When it comes to the federal income tax alone (as opposed to Social Security, Medicare, excise and other taxes) the lower income brackets actually paid a negative rate, thanks to programs such as the Earned Income Tax Credit that paid people a “credit” for income taxes they never paid. The average federal income tax rate for households earning less than $34,300, according to the CBO, was -0.4 percent in 2007, and the average federal income tax rate for households earning less than $20,500 was -6.8 percent.

    Over the past three decades, according to the CBO data, taxation has been getting more progressive, as the tax burden has lightened on lower income households while increasing on higher income households. During those three decades, Presidents Ronald Reagan and George W. Bush signed laws cutting the top marginal income tax rates, but Presidents George H.W. Bush and Bill Clinton signed laws increasing the rates.

    The CBO divided the 116.9 million American households of 2007 into five roughly equal parts (quintiles) graded by income. The income range for the lowest quintile was $0 to $20,500; the second quintile, $20,500 to $34,300; the third quintile, $34,300 to $50,000; the fourth quintile, $50,000 to $74,700; and the fifth quintile, $74,700 and above. The share of overall federal taxes paid by each of the first four quintiles decreased from 1979 to 2007, while the share of overall federal taxes paid by the highest-income quintile increased, meaning the overall tax burden was shifting away from that class of Americans making less than $74,700 per year in 2007 toward those earning more.

  54. Essex says:

    55. I know, I have other accounts, these guys systems (online) are crap. I just felt like f’ing with someone. Role playing if you will. Every once in a while it’s fun to be obnoxious….offline.

  55. Essex says:

    It actually started off as phone conversation and they guy was such an ass that I figured why not go down there and teach him a little something about ‘crazy’ people who look like they can dismember him. It was pretty hilarious. Perhaps next time he’ll be a little more — customer centric. Or perhaps I’ll get doomy and we can napalm the place for laffs.

  56. Libtard and the City says:


    I agree their online services blow. I can’t even get online access to my 4-year old son’s account without calling a toll-free number every two weeks. I just don’t bother anymore. But I never overdraw my accounts. Then again, you’re a gubmint worker right? Apparently spending more than you have is SOP.

  57. grim says:

    Why weren’t the statements in the second paragraph based on the quintiles?

    Looks like they are defining middle class as the too 3 quintiles less 1%, does that even make sense?

  58. Essex says:

    I actually hung up the phone and was in his office two minutes later. He was rattled. I waltzed up to him in my best redneck attire, gave him a firm handshake, and the rest was downhill fasssst.

  59. Essex says:

    59. Your judgements about whatever it is that I do….mean nothing me. And I will not hesitate to teach you some manners.

  60. Mr Hyde says:

    Grim, Doom

    Did you see the following? Need a 100% LTV, go to spain!

    Spain has one of the world’s most-troubled housing markets, yet some buyers are suddenly able to get mortgages with 100% financing, and developers are building new homes on empty lots despite a huge glut.

  61. Mr Hyde says:

    Essex 61

    Welcome to the watch list

  62. Libtard and the City says:


    Manners went out when moral hazard came into fashion.

  63. Essex says:

    Stu, Don’t rattle the gator’s cage.

  64. Libtard and the City says:

    Lighten up Essex. You know I never mean any harm.

  65. Essex says:

    Hug it out Stu. Hug it out.

  66. Final Doom says:

    plume (51)-

    Let’s kill all the lawyers?

  67. Final Doom says:

    hyde (63)-

    Why go to Spain? We still have FHA (100%+ LTV financing, if you roll in closing costs), overbuilding and mortgage originators who learned how to commit fraud during the subprime years.

  68. Final Doom says:

    My money is on anyone who lives in Montklair to snap first.

  69. jj says:

    pretty much I say lets take out everything, west of the missippi, north of Albany and south of Virgina and everything after Bermuda and start over.

    Also lets knock off people in prisions, hospitals, mental facilitiies, everyone on parole and everyone who ever committed a felony and everyone with a STD or terminal disease. Then lets do everyone on unemployment, welfare or social security. Them might as well knock off all the people who work in prisions, mental wards, ss, unemployment or welfare office. Also lets knock off all kooky religions, fat people, ugly people old people and nerds. Wait I am only one left, damm it.

  70. Essex says:

    That’s not the problem Johnny boy. Those are some nice places. Let’s level Manhattan neutron bomb style. Keep the buildings are rid the world of the greedy deviant c*nts like you. We’d all be better off.

  71. Essex says:

    In fact if every banker stopped breathing tomorrow, would anyone notice? If every trader disappeared and every hedge fund guru tasted a bullet, would the world care? Let’s start at the top and work our way down……

  72. Essex says:

    I’d love to watch wall street burn.

  73. jj says:

    as wall st goes so does main st.

  74. Mr Hyde says:


    You might like this guy running for congress. Check out his adds:


  75. jj says:

    Only if you take my Jets seats, I would hate to stiff Woody Johnson.

    Essex says:
    June 21, 2010 at 12:24 pm
    That’s not the problem Johnny boy. Those are some nice places. Let’s level Manhattan neutron bomb style. Keep the buildings are rid the world of the greedy deviant c*nts like you. We’d all be better off.

  76. Essex says:

    76. Bullshit.

  77. Essex says:

    78. I’m pretty sure you’ve stiffed a few Woody Johnsons in your day. Some dirty back alley fun amongst the preppy.

  78. jj says:

    ClearBridge Energy MLP Fund Inc.

    this is coming to mkt next week and being pushed hard, any one has any thoughts on if I should buy.

    Only woody I hang out with is Mr. Johnson. Wow that sounds weird.

  79. Comrade Nom Deplume says:

    [69] doom

    Yeah, and I have a suggestion where you can start.

    After all, I might not be one at the end of the day.

  80. Yikes says:

    looks like the Fifa nazis got that the Ronaldo goal video … but here it is again


  81. Morpheus says:

    I have a few suggestions.

    Nom: sorry to hear about your work place. I just try to get thru the day.

    Can’t comment on my workplace– I am sure communications are monitored.

  82. Libtard and the City says:


    Maybe you’ll be as lucky as me.

    Perhaps you’ll get two full time jobs for the price of one + $5,000 higher commuting and after care costs.

  83. grim says:

    Increased productivity!

  84. bergenRenter says:

    Does the presese of a retention basin next to the lot affect the property’s value? I did some reading online about mosquitoes etc..?

    Could someone with knowledge on this share their thoughts?

  85. Libtard and the City says:


    And don’t forget the potential for flooding. I certainly would expect all of these to be valid arguments, but good luck finding a comparable property to compare it to. How much value is knocked down by the assessor will be difficult to verify as being fair. I lost a close friend growing up who was playing in the pipes in one of those ditches when a flash flood and storm occurred. Be careful with kids around them.

  86. Mr Hyde says:


    You can only have the house if you write a love letter to the mosquitoes and sign an agreement to feed them on a regular basis.

  87. Mr Hyde says:


    been there, done that, lived to talk about. WAS NOT FUN! stayed out of pipes after that.

  88. Comrade Nom Deplume says:

    [90] hyde

    Went “tunneling” at UMass once. Rite of passage there. No flash floods, but if there ever was one, no doubt we would have been killed.

  89. jj says:

    Bigger worry is your spouse can wack you on head tie your body to a few cinder blocks and drop you in basin at any time.

    bergenRenter says:
    June 21, 2010 at 2:00 pm
    Does the presese of a retention basin next to the lot affect the property’s value? I did some reading online about mosquitoes etc..?

    Could someone with knowledge on this share their thoughts?

  90. Comrade Nom Deplume says:

    [84] Morph,

    Thanks. So fcuking angry, I can’t see straight. Will vent offline.

  91. bergenRenter says:

    Libtard, Hyde

    Thanks for the info. The agent gave the sales pitch about how you get privacy blah.. blah. Also something about detention Vs retension basin, where the former is better than the later.

  92. Libtard and the City says:


    On the bright side, you can explore the pipes.

  93. zieba says:

    RE: 83

    You think all that hair gel would run into his eyes during play, or is that straight up crazy glue?

  94. Comrade Nom Deplume says:

    [85] libtard,

    Nope, I think that my next titles will be novelist, developer, Trophy Husband, and SAHD.

    Course, I see myself getting into miraculous shape, and my golf game improving dramatically.

    In my situation, the opportunity for savings are such that a SAHD is worth, on a pre-tax basis, at least 30K per year, and another 3-5K if I put other skills to work. Combine modest part time income, tax savings and tax arbitrage opportunities, and UE, and I am easily up to 70% of take home.

    And if either of the ventures hit big, wow. Early retirement.

  95. Libtard and the City says:


    The same thoughts and ideas have crossed my mind. I have a few ideas that could certainly prove lucrative, but require full-time attention for them to succeed. If ever let go, I’ll probably be an instant millionaire. Though, I need severance to allow me the time to make this happen. I also need some venture capital, but I put on a good show and probably have enough connections to not have to put my wealth at risk.

  96. still_looking says:

    Nom, 93

    time to start estate planning/financial management business.

    [don’t get mad, get even.]


  97. jj says:

    why would I loan money to someone who is afraid to invest his own money in it.

    I only like people who eat their own cooking.

    I always eat what I kill, sloppy seconds venture cap style where I either get stuck with the bill or get sloppy seconds is not for me.

  98. Juice Box says:

    re #98 – “and a long delay that would give banks up to seven years to enact the changes”.

    lol – or enough time to mount legal challenges as well as change in administration and setup plenty of golden parachutes.

    Somehow I don’t think the pit bosses in the Casino are too worried, they got Barry and Congress in their pocket and have already stripped the proposed legislation of any meaningful teeth.

  99. Final Doom says:

    rent (87)-

    Those basins shouldn’t be mosquito hazards. They are designed to drain within minutes of even the worst storm and are not considered place where standing water can collect.

  100. sas says:

    a cap on tax hikes?

    talk about a Jedi mind trick:

    “You don’t need to see our papers”

    “move along”


  101. jj says:

    why do laid off people who need money want to do financial planning.

    Lets see you can’t hold down a job and you squandered your money now you want to invest mine.

    I had an ex accountant ex realtor who has been laid off from five jobs recently call me to say he is a financial advisor. I say that is great, then the nut does a sales pitch. I was like dude I knew you in 2000 and you lost your shirt on internet stocks and now you want my money to invest, he goes it is different this time I learned from my mistakes.

    FU, do I want a heart surgeon who learned from his mistakes. Then I say I have a life time winning average in investing why should I stop doing it and let you do it. Tells me I am not diversifed and just plain lucky. I better have him look at my portfolio. Wow I have been beating the benchmarks for 25 years and I am lucky. Someone get me to a lotto stand. PSL salesmen, financil planners, re agents, used car salesmen and pimps. Only pimps are honest in what they do.

  102. Comrade Nom Deplume says:

    [100] still

    Oh, getting even is in the cards. I intend to poach.

    Or if I get one job I am looking at with IRS, I could be in the enviable position of twisting the knife on their clients, and hinting “well, if you didn’t have such crappy lawyers . . .”

  103. Comrade Nom Deplume says:

    [105] jj

    Said nothing about financial planning. I cannot do that. But I can do estate planning and asset protection.

  104. Essex says:

    105. It’s tough all over Johnny. The worst boss i ever had now does bathroom rennovations.

  105. sas says:

    “Only pimps are honest in what they do”

    and they don’t pay taxes.


  106. Essex says:

    My uncle’s ex does or did financial planning. The only real job she had was spending alimony.

  107. sas says:

    “Tells me I am not diversifed”

    aint no such thing really, most transactions come from govt contracts.

    if you want to be diversified, here is a little tip:

    good health
    gun & ammno
    silver coins
    mason jars.

    but, thats just me.

  108. Essex says:

    97. The trophy husband thing works! Trust me. A smart marriage is worth its weight. Now i sound like jj.

  109. Final Doom says:

    plume (106)-

    You got anybody there whose kneecaps need busting?

    Happy to help.

  110. Final Doom says:

    It’ll happen while we’re asleep.

  111. Comrade Nom Deplume says:

    [113] doom

    Funny thing is if you capped the tax partners here, folks would cheer you. I was out with some litigators recently and they made it clear that they could not stand my bosses.

    I at least have the satisfaction of knowing that if my boss does can me, he will get a lot of nasty calls from other partners, saying “WTF did you do that for?”

  112. Comrade Nom Deplume says:

    [113] doom

    I really got to get out of this state. I haven’t hated this many people since high school.

  113. Mr Hyde says:


    Everyone seems to be looking for the exit now, from the mechanic to the attorney. I suspect that for most of us there is no exit, just a matter of comes out on the other side. Once again, look at Argentina. A handful were able to execute literal or figurative exit plans, the majority, even with good planning simply had to survive.

  114. jj says:

    As my wifes friend said I don’t really always like my husband but I won’t divorce him even if he cheats on me.

    Wife says why is that, well he works 80 hours a week and makes 750K a year and we live on the water with a boat, I only see him Saturdays and Sundays, let his stupid GFs give him BJs during the week for a free dinner and I will take the house and all his cash.

    BTW economy aint that bad, stupid Jets only have like 4k PSLs to sell. That means they found 50,000 people to buy PSLs.

  115. Comrade Nom Deplume says:

    [117] hyde

    Funny thing is that I have all manner of project stacking up because I have been waiting for about 6 months for the hammer to fall. But I get paid well to swallow my bile, so I do. And I bank to the extent I can.

    Still, the goal is not to outlast the bahstids. If you are the last associate here when everyone else has found their dream job, you’re the loser.

  116. NJGator says:

    Montclair Council Agenda for June 22nd

    What’s ON the Agenda:

    Skate Park

    What’s NOT ON the Agenda:



    Cary Africk
    2nd Ward Councilor

  117. Essex says:


    or lottery.

    or stock options (founders shares)

  118. Essex says:

    or marry an heiress.

  119. relo says:

    119: Nom,

    Knock off early today. Enjoy the beautiful Jersey sunshine. Grill a steak and pop a cork. You have my permission.

  120. Mr Hyde says:

    Johns secret to a happy marriage…

    Wife says why is that, well he works 80 hours a week and makes 750K a year and we live on the water with a boat, I only see him Saturdays and Sundays, let his stupid GFs give him BJs during the week for a free dinner and I will take the house and all his cash.

    …wonder if i could sell that plan to Mrs Hyde

  121. relo says:

    I’m fairly confident mine would kill me in my sleep, or shortly after waking me to let me know it was coming.

  122. Final Doom says:

    Better to be killed by the wife than get the Bobbitt treatment.

  123. Mr Hyde says:


    Mine would be way too violent to use such a pleasant method assuming she rejected said plan.

  124. NJGator says:

    Relo 125 – I’m thinking I would be in the latter camp. Well maybe minus the “shortly”.

  125. jj says:

    Three part story

    Dated a girl once whose mom owned over 100 properties and lived in a 14 bedroom, 8 bathroom, 7 car garage house on six waterfront acres with a pool and a tennis court. So after a few months of dating her she goes we are going to my rich uncles house in Kings point for a party. WTF rich uncles house? anyhow we got to the house and and I pull up a long driveway and there is a huge house with a seven car garage with seven rolls royces (he collected them), anyhow I mouth off and tell her I have seen better houses. Anyhow she goes keep driving that is the servents quarter and garage.

  126. jj says:

    So one we go to the top of the hill waterfront right by the gatsbys house with a majestic view of the bridges. Ok I am impressed. So I go down to his pier and I see a nice 40 foot yacht and I nudge my girl friend and I go nice but I seen bigger, damm GF goes wtf are you talking about that is just the boat he uses to get to his boat as his boat is too big to dock. Out on water was a 200 foot sail boat. OMG I was starting to shrivel up. Anyhow I say is he going to take us out, she goes not today, the boat needs a crew of 20 and Kings Point is next to the Merchant Marine Acadamy so he hires 20 of them on the weekend to take him out. They are only $100 bucks each plus feeding them breakfast and lunch. That guy was messed up rich. Friend was laughing his butt off a few weeks later when he caught him driving his rolls with top down and mixed drink in hand clip a curb like it was no big deal. Guy was a playa.

  127. Ben says:

    Is it really that difficult to beat the market or even institutions in investing? They diversify into every asset class ensuring they make mediocre gains.

  128. Mr Hyde says:

    Nothing to see here, move along…

    “If we look at the HAMP program stats (see page 5), the median front end DTI (debt to income) before modification was 44.8% – about the same as last month. And the back end DTI was an astounding 79.8 (down slightly from 80.2% last month).

    Think about that for a second: for the median borrower, about 80% of the borrower’s income went to servicing debt. And it is almost 64% after the modification.

    And that is the median”


  129. Essex says:

    TRENTON, N.J. – Democrats in the New Jersey Assembly have failed to override the Republican governor’s veto of a tax surcharge on millionaires.

    Monday’s vote was strictly along party lines. All 47 Assembly Democrats voted for the override and all 33 Republicans voted against it. The measure needed seven GOP votes to advance.

    The one-year surcharge would have raised about $600 million by increasing income taxes nearly two percent on the state’s 16,000 highest wage earners.

    It would have put the top earners into a 10.75 percent tax rate on income above $1 million.

  130. relo says:


    Guess there is just no reasoning with some people.

  131. Nicholas says:

    Third part of the three part story.

    “I woke up”

  132. Mr Hyde says:

    Chicago’s rockin!!!!

    June 21, 2010

    Sun-Times Media Wire

    Eight people were killed and at least 44 others were shot across the city Friday night into early Monday, including a baby girl who suffered a graze wound to the neck when gunfire erupted at a Near West Side barbecue.

    Those killed included a 28-year-old man found shot in the chest about 3 a.m. Monday in the 7500 block of South Halsted Street near a South Side church, according to Gresham District police. A passing motorist found the man, identified as Credale Woulard, of 7711 S. Ada St., according to the Cook County Medical Examiner’s office. He was dressed in women’s clothing and was found lying dead on the sidewalk.


  133. borat obama says:


  134. meter says:

    “He was dressed in women’s clothing and was found lying dead on the sidewalk.”

    And no Frank posts today about Hoboken RE. Coincidence? You decide.

  135. chicagofinance says:

    jj: blow me dude; shine my knob….

    jj says:
    June 21, 2010 at 3:15 pm
    why do laid off people who need money want to do financial planning.
    Lets see you can’t hold down a job and you squandered your money now you want to invest mine.
    Someone get me to a lotto stand. PSL salesmen, financil planners, re agents, used car salesmen and pimps. Only pimps are honest in what they do.

  136. chicagofinance says:

    Also…..be careful…..the bat to the stomach is coming……

  137. willwork4beer says:

    N.J. budget compromise is reached between Gov. Chris Christie, lawmakers

    Published: Monday, June 21, 2010, 4:01 PM    
    Updated: Monday, June 21, 2010, 4:14 PM
    Statehouse Bureau Staff

    TRENTON — Gov. Chris Christie and lawmakers of both parties are finalizing a state budget compromise that restores funding for various programs for students, the disabled and other constituency groups, according to four officials familiar with the deal.

    The deal between the Republican governor and the Democrat-controlled Legislature is expected to be announced later today, said the officials, who spoke to The Star-Ledger on the condition of anonymity in advance of a formal announcement. The budget remains very similar to Christie’s $29.3 billion proposal unveiled in March, including some of the biggest cuts such as $820 million in aid to school districts.


  138. Renaldo Zang says:

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  139. House Whine says:

    119 Comrade Nom:

    Reading your posts today I am reminded as to why I do NOT miss working in the legal field. I now recall some days where I just felt so frustrated and unhappy and wondered what the heck was I doing in the field.

    I now work in an entirely different field, one which I worked in many years ago. I make less money, but I think I am going to be much happier and a lot more sane. This also will be better for my family. There is just something about the legal environment which makes working life very tough.
    Best of luck to you.

  140. Fabius Maximus says:

    No power=no water

    Don’t forget that you probably have 80 gallons of drinkable water in your hot water tank, don’t forget to shut it off to stop it boiling dry. You can use the valve on the bottom to drain out as you need it.

  141. Fabius Maximus says:

    Mrs Fabius scored an A+ in the fathers day gift.

    Someone bought one of these at target.com. They returned it to the store unopened and the store put it on clearance for $37!!

    This will be a smoking hot summer.

  142. Yikes says:

    Mr Hyde says:
    June 21, 2010 at 3:54 pm


    Everyone seems to be looking for the exit now, from the mechanic to the attorney. I suspect that for most of us there is no exit, just a matter of comes out on the other side. Once again, look at Argentina. A handful were able to execute literal or figurative exit plans, the majority, even with good planning simply had to survive.

    Life is good in Bucks County. Went to a neighborhood BBQ and found out more than a couple neighbors work in NYC, a couple are older and retired with beach houses in South Carolina or Florida.

    We’re the youngest in the neighborhood and might be the only ones w/out kids. Great group of neighbors, so far, so good.

    who knows where i’ll be in 3 years, but for now, life is good!

  143. Yikes says:

    SAS – in your doomsday collection of items, what are the mason jars for?

    and Clot, who you got in the big US-Algeria game? What about England-Slovenia?

  144. Mr Hyde says:

    live it up man. If things are going your way then rock on.

    Mason jars: preserving food, storing moonshine, molatav coktails, classy drinking glasses…….

  145. Pat wowed by USA says:

    oil lamps, on-the go boiling, defense (side smash, insert around perimeter), quickie lancing, signal functions, some breathing functions, medical.

  146. Comrade Nom Deplume says:

    [123] relo

    grilled a burger and uncapped a beer.

    [144] whine

    Yes, I desperately want out of here. That may come soon, judging by the misanthrope’s latest emails.

    It has been a heckuva long time since I despised another person as much as I despise this guy. Of course, the only difference between me and the rest of the world is that I work for him.

  147. Pat wowed by USA says:

    Sometimes, the greatest pleasure is overcoming boss hatred.

    It can happen, I’ve heard.

    I’m not strong enough. How to deal with difficult bosses articles are for selling clicks.

    Two times out of 6 jobs in 24 years, I found new jobs because I couldn’t deal/cope/adjust/hope/act/hide/accept enough to make the salary worth it.

    The other times, the salary just wasn’t enough to be loyal to the great bosses.

    Suffering is fine if you like that sort of thing. But if you can find another job, go. End of issue.

  148. Final Doom says:

    yikes (148)-

    I haven’t made a single bet in that group. I very honestly believe that the US and England both suck out loud, and I wouldn’t be surprised at all if Algeria kicks our asses and Slovenia manages at least a draw (if not better) with England.

    I think any casual fan now knows that Belhadj is an absolute beast on the flank, and Yebda is a very disruptive player. From the start of the game, Bradley has to get Donovan running at and around Belhadj to force him to defend, and Bradley, Dempsey and Altidore all have to make Yebda hang back and work at breaking up attacks. If those two guys get up the field in possession, we’re done.

    Mexico-Uruguay is going to be a great game tomorrow. I think both teams will open up early and get it going. Hopefully, Suarez will be up front with Forlan for Uruguay and Mexico will have Hernandez starting with Dos Santos.

    If that’s how they line up, could be a 4-3 type of game.

  149. Final Doom says:

    plume (151)-

    You should really punch his lights out and get it over with.

    If you kicked his ass right now (as in: one more punch, and it’s an emergency room/drill the skull to release pressure-type ass-kicking), he’d probably back off.

    Before you land the lights-out shot, you tell him to tell everyone who asks that he fell down a flight of stairs.

  150. Final Doom says:

    Just started a new short on SPG and GGP today.

    When Meredith Whitney acknowledges that any sign of retail health in the US comes from all the people not paying their mortgages, it’s game over.

  151. Qwerty says:

    The greatest revenge against a zero boss is finding another job. No arguments, just a resignation letter.

    And, it goes without saying, never quit until you have a new job waiting.

  152. Final Doom says:

    The greatest revenge is to meet mental and emotional violence with a bloody, physical ass-kicking.

    Mental and emotional abuse is the province of weak and indolent people of poor character. The only thing that shakes them out of their self-centered surety is the taste of their own blood, dribbling down their throats.

  153. sas says:

    “revenge against a zero boss”

    i don’t get the revenge against the boss stuff. you work, you get paid.

    never expect anything long term and screw loyality.
    you’re just day to day.

    and most so called “bosses” are just middle man saps. They have to deal with it from both ends, and usually start takeing something to keep up, legal or illegal, or they are getting the no touch lap dance, or running to some incalls over near 34th st (Penn station area).



  154. Revelations says:

    Where are you in Bucks? I find the prop taxes there are cheaper than many NJ towns, but still not that cheap. Plus, you may have an income school tax ~1% AND may have local income taxes to add to state and county taxes. Right? Plus, PA has a 2% real estate xfer tax. I’m not sure what the MLS listings are showing when they list the property taxes, but PA has a lot of these billed a la carte.

  155. sas says:

    is readership down on the boards?

    I remember the days we’d see 500 posts/thread.

    looks like I need to come around here more often & tell some good stories.


  156. sas says:

    but, for now, I need to hit the sack.

    night john boy.

    night borat obama



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