From the Star Ledger:
Special Report: Did N.J. property tax reform help most taxpayers?
New Jersey homeowners paid an average of 2.4 percent more for property taxes in 2011, the smallest increase in nearly two decades, showing Gov. Chris Christie’s push to restrain local levies might be working.
A Star-Ledger analysis of taxes in all 566 New Jersey towns shows the average property tax bill was $7,758 last year, an increase of about $182 from 2010.
Although more than 82 percent of the towns saw some increase in their average property tax bills last year, the 2.4 percent increase was a significantly slower rate of growth, the newspaper found. In 2010, property taxes rose 4.1 percent and year-over-year increases topped 7 percent for three consecutive years in the middle of the past decade.
The last time property taxes rose by such a small rate was 1992, when they went up 1.9 percent, according to state figures.
Christie has made reining in New Jersey’s highest-in-the-nation property taxes a big goal of his administration. Along with the Democrat-controlled Legislature, he limited property tax collections for towns, schools and counties at 2 percent, starting last January.
“Am I satisfied? Of course not. Unless you told me it was 2 percent, I wouldn’t be satisfied,” Christie said in an interview. “But we’re making great progress. When you think that in the 10 years before I became governor, property taxes went up 70 percent in 10 years and now people are talking about 2-and-change increase, that’s great progress and progress that nobody else before we got here created in this state.”
…
The analysis found:• In total, towns, counties and schools collected about $25.6 billion from taxpayers in 2011, a 2.5 percent increase from 2010.
• Loch Arbour Village in Monmouth County had the highest average property tax bill at $22,715. Tiny Tavistock Borough, Camden County, came in second with $22,297, followed by Millburn, where the average property taxpayer coughed up $19,989.
• The least expensive place to live in New Jersey was Walpack in Sussex County, where the average taxpayer paid about $514.
• Bergen, Morris and Union counties had the highest average property taxes in 2011. The average Bergen County taxpayer paid $10,317, a 2.6 percent jump from 2010. Morris County’s average bill was $9,644, while Union County overtook Essex for third place, at $9,493.
• The lowest county average was in Cumberland, where the average tax bill was about $3,419 in 2011, down 1 percent.
• Together, the three taxing authorities (towns, schools and counties) exceeded a 2 percent increase in collections in 312 towns, while 165 stayed within 2 percent and 89 saw the levy stay the same or decrease. In 2010, 529 towns saw an increase in their total tax levy, 425 of which went over 2 percent.
• Counties were more successful than towns and schools in keeping their tax levy below the cap.
Good Morning New Jersey
From the Star Ledger:
Rescuing N.J. foreclosures: Lawmaker has proposal with potential
Foreclosures proliferated like so many mushrooms in the wake of the housing and mortgage collapse. About 150,000 houses are in some stage of the foreclosure process in New Jersey. Vacant and boarded up, these houses are a blight on their neighborhoods, an invitation to vandalism and crime, and a drag on property values. Families evicted from those houses still need affordable places to live.
Meanwhile, towns across the state are sitting on nearly $300 million in housing trust fund dollars, accumulated from private developer fees. Many towns choose to do nothing because of uncertainty over affordable housing regulations, in flux since 2004. Others have been hostile to building anything.
Sen. Raymond Lesniak (D-Union) has an idea that ties those elements together and makes a lot of sense. He will introduce a bill this week to create a Foreclosure Relief Corp. within the state’s housing and mortgage finance agency. The new entity would use those socked-away trust fund dollars to buy foreclosed houses, which would then be converted to low- and moderate-income housing. Towns would get credit toward affordable housing obligations. Lenders who participate would get credit under the Community Reinvestment Act, which promotes investment in cash-starved communities. Lesniak predicts his plan could create as many as 30,000 new affordable homes in New Jersey.
Some good new for a change, I hoped he squirmed for awhile http://www.miamiherald.com/2012/01/05/2575771/broker-who-touted-subprime-mortgages.html
Way to go Zimmer! From the Jersey Journal:
Hoboken leads way in Hudson in holding line on taxes
Thank the City of Hoboken for bringing in the Hudson County average in tax hikes last year to just 1 percent.
City officials in the Mile Square City chopped property taxes a whopping 10 percent last year, according to an analysis that appeared in today’s Star-Ledger.
“I am particularly proud this tax cut was achieved without using any budgetary gimmicks,” Hoboken Mayor Dawn Zimmer said, noting “fair contracts” recently negotiated with the police and fire departments, as well as the reorganization of several city departments.
While Hoboken taxpayers received some much needed property tax relief, most residents elsewhere in the county saw property taxes rise higher than 2.4 percent, which was the average statewide increase.
#4 grim
While lower taxes are a good thing, that story does need a little perspective.
http://www.nj.com/hobokennow/index.ssf/2008/10/city_council_followup_does_it.html
Agree, smaller increases are a good thing, especially if the real increases approach zero or even turn negative.
However, a nominal decrease? Damn near impossible is what I think. Those increases will never be clawed back, ever.
Best we could hope for is long stretch of net negative real property tax increases to erode away some of that outrageous tax growth.
More skewed number,,,It wasn’t really a 2.4% tax increase, Because you now have to pay for programs that use to be included in your previous tax bill,
Some examples from people I know:
You pay for sports activities, Yearly fee plus extra fee’s for equipment
I have friends that now have to pay $275 a year (per child) to ride the school bus.
The schools charge fee’s for every activity and kids are “required to do fund raiser’s.
No yearly large item clean up day for garbage, Now you pay $10-20 fee to get rid of large items.
No property tax rebates
Lets not forget the good old police force with their ticket blitz’s
An argument can be made that people should have been paying these separate fee’s for special services all along but don’t say you’ve held the tax rate when you now separate and charge for every service and slap a 2.4% increase on top of that.
Good morning Mike Good morning NJ
This is one of the main reasons most of my family moved out of Bergen County to Sussex County.
• The least expensive place to live in New Jersey was Walpack in Sussex County, where the average taxpayer paid about $514.
• Bergen, Morris and Union counties had the highest average property taxes in 2011. The average Bergen County taxpayer paid $10,317, a 2.6 percent jump from 2010. Morris County’s average bill was $9,644, while Union County overtook Essex for third place, at $9,493.
Yes, this was the intention of the cap and tool kit, i believe. Christie pretty much rocks.
“Best we could hope for is long stretch of net negative real property tax increases to erode away some of that outrageous tax growth.”
There are ways for townships to save money. Newton has been doing the preemptive spraying of streets with a brine solution for years before snowstorms and ice storms. It’s supposed to be easier on the snow removal, rock salt and overtime budgets. Our recycling pickup is about bare minumum. Once a month pickup. If you have any cardboard or want to bring your recycling to thier dumpsters in town, it’s open only twice a week. There’s no garbage pickup….you hire a company yourself. Which I like…I can call around for the best price. Sometimes if you threaten to switch, the garbage companies will lock you in at a really low price to keep your business.
I suppose people in counties like Morris or Bergen in general just don’t want to give up these services. If you get a few citizens that are stubborn and politically active, they dig their heels in and local politicians probably don’t have the fortitude to do things more efficiently.
Brian
Your parents own a home in Sparta? Taxes are on a Tare the past few years
13 – Xroads
Yes and since they’re in the Lake Mohawk area, they have to pay seperate assessment to the country club. (which was just increased)
http://www.njherald.com/story/16470125/lake-mohawk-country-club-oks-180-property-assessment
But I have a huge extended family. All from the Hudson County and Bergen County areas. None of them live in either of those counties anymore. Some moved because of job opportunities in other states or other circumstances but most of us just found that area completely unafordable anymore.
Why do you guys complain about property taxes. $7,700 for award winning schools and two NFL teams and a short distance from high paying jobs in NYC. Sounds like heaven.
Had two different people give me the “high taxes keep the riff raff out” line this weekend.
ChiFi (from last thread)
40.chicagofinance says:
January 8, 2012 at 10:53 pm
gary: I was neutral on the subject, but I had the displeasure of watching my firts post-game press conference with Tebow. He’s an a-hole of the highest order. What is on the face a pious display of humbleness is actually arrogance and narcissism that defiles his believes.
———
F*ck him, then. I hope Brady puts up 6 TDs before he can adjust his jock strap.
“A Star-Ledger analysis of taxes in all 566 New Jersey towns shows the average property tax bill was $7,758 last year, an increase of about $182 from 2010.”
I wonder if that average number includes people whose property tax bills are reduced by the Farmland Assessment act.
http://newyork.cbslocal.com/2010/12/11/fake-farmers-cost-n-j-taxpayers-millions/
#16 And yet some of the highest taxed towns in Bergen, have all the urban problems that are associated with riff raff; just saying.
When you think that in the 10 years before I became governor, property taxes went up 70 percent in 10 years…
I said it was 60 percent increase on propert taxes. And houses went up 87 percent in a 5 year span and have eeked down kicking and screaming since. Compound the lending strangle-hold, no jobs, no assets, no FICO and you have a feeling of where housing prices are still headed. It’s the top of the 5th inning.
Had two different people give me the “high taxes keep the riff raff out” line this weekend.
I love that line. lol!
Don’t think you’re looking far enough. Been checking out Scotch Plains and their taxes jumped over 4% with most people seeing a $400-$500 increase last year! One of the reasons we moved out of state a year ago. Taxes way too high for what you’re getting! Bottom line: taxes were paying for schools and town administrative salaries…that’s it!
Grim [16];
I’ve long beleived that was the psychology of many buyers who KNEW they were overpaying. Its not just that the market drove them to it; they convinced themselves that overpaying for a shack was the only thing standing between them and living next to Sanford & Son or cars up on cinder blocks.
The bottom line is, everbody can’t have a f*cking pony.
It only takes $34,000 per person to be amid the richest 1% of people in the world.
We are all RICH!!!!
No cash bonus for Wall St? Long dated stock grants?
Seems to me like housing in NJ will be directly affected, somebody better tell Sue Adler. She seems to think “prices are down further in our Midtown Direct Train Line Towns than they are in the spring because there is less competition at this time of year.”
http://online.wsj.com/article/SB10001424052970204331304577147750253122844.html?mod=WSJ_hp_LEFTTopStories
One of my all time favorites…
https://njrereport.com/images/sueadlerunemployment_sm.gif
Tard first time since the late 1800s it did not snow at all in Tahoe. When were you going?
It is only a buyer’s market if the seller is willing to sell.That is also true in reciprocal
23 – I worked with a client before that told me they wanted to move to be exposed to a more successful socioeconomic group. They felt that their current circle of friends in the neighborhood were unmotivated and lazy, and were a negative influence on them and their kids.
One more tax anecdote.
Also worked with a fancy Mendham Realtor who was connected with local politicos. She said the locals were fine with high taxes, and that the local government would never to seek to mitigate the tax burden by bringing any kind of mid to large scale retail ratable (other than the necessities) into town. Why? Because that would attract outsiders, and outsiders bring crime. She said that they felt like the best approach was never to give anyone outside of Mendham a reason to come to town, and that this was the secret to their success.
Feb 3-7. Not too worried. I could always gamble and watch the super bowl. The ski season has been a bust just about everywhere this year. Remember last winter?
Grim (27): and your posted image always reminds me of this one.
http://i442.photobucket.com/albums/qq145/stuw6/MsAdlers.jpg
The best one yet:
“Tim Tebow turns Gatorade into wine.”
lol!
Gary – Tebow the most popular white Bronco since OJ.
I guess everyone’s a landord now (accidental or otherwise):
Updating tax and accounting software, I see that Quicken now has a “Rental Property Manager” edition to track business expenses assocated with the rental… only $50 more than the Home & Business edition which was already supposed to track business expenses. Either being a landlord is a sooper special type of business, or Intuit/Quicken is just marketing to the well-understood intellegence level of the accidental landlord crowd.
It is only a buyer’s market if the seller is willing to sell.
Moose. They’ve been doing the same thing with Turbo Tax for years. Premier version ($20 more) accounts for Schedule E. Regular and Deluxe version does not. I used to be a Quicken Beta tester. So much quicker to place all of your receipts/bills/voided checks in an envelope to be sorted out each February. If you can control your spending, no need to use Quicken anyway.
Birds of the same feather flock together
23 – I worked with a client before that told me they wanted to move to be exposed to a more successful socioeconomic group. They felt that their current circle of friends in the neighborhood were unmotivated and lazy, and were a negative influence on them and their kids.
re: Riff Raff (16)
Was anyone of them from Hunterdon County? Either way, my property tax bill did drop 2% from the prior year. And our high school did institute a pay to play (sports) about two years ago. Cost me about $200 total. Now, if no young families move in for 5 years, they can shut down a school. We will save big time!
How many luck can an inferior Qtr back like Tebow win in NFL games?We all agree he is not a great qtr back,but he does the unexpected,WIN.That is what makes who ever he is talking to by himself in the sideline , GREAT
Btw,
Schools did shut down all over Jersey 30+ year ago after the last of the baby boomers grew up and left the local school districts. It did not affect the property taxes that much because school spending wasn’t as high based on percent of overall tax bill. Nowadays, if a school closes, it will make a tremendous impact on taxes. The fight would be bigger, although, in my time, we have had issues where taxpayers/voters have swarmed to the voting booths and spoiled the special interest parties
.
“Had two different people give me the “high taxes keep the riff raff out” line this weekend.”
That’s funny. Here in Sussex County, I get into arguments with people from Sparta that recently helped killed a county road upgrade project here all the time. They tell me they don’t want people from Bergen County moving up here and bringing down the area. What the h*ll is wrong with people?
Lib [37];
I figured you’d have it knocked out. Was thinking specifcally about the ‘accidental’ landlord crowd.
I got used to using Quicken to crawl bank and brokerage websites and consolidate the information. PNC, BOA and a few other retail banks offer branded versions of that service online for a while now, but A) data is in the cloud (no likee) and B) its only useful if you consolidate all your financials with one institution.
On balance $50 spent on Quicken makes my life easier/happier. The extra $100 for the sooper special version is better in my pocket than theirs.
Moose, I use the Yodlee free online version which acts as the beta for the bank version you were referring to. Sure there’s risk. But if someone really wants to mess with you, they still can, regardless of whether or not you transact on line.
There are certain towns that thrive on riff-raff and their taxes are so high, they will make you vomit. What’s the excuse there?
45 – Taxes aren’t high enough to chase the riff-raff out yet, keep hiking.
One day, East Orange (aka. Upper Orange) will have a socioeconomic demographic so similar to Glen Ridge, that a merger will make almost perfect sense.
RE: Grim
Grim [46] Care to elaborate a little bit? Are you solely basing this on property taxes? I was told East Orange is a war zone. Is that accurate?
East Orange is a war zone. At least, most of it is.
scottie,
sar·casm /ˈsɑrkæzəm/ [sahr-kaz-uhm]
noun
1. harsh or bitter derision or irony.
2. a sharply ironical taunt; sneering or cutting remark: a review full of sarcasms.
Grim – 46 But what about the town pool with the $1,500 annual dues? Oh no, Glen Ridge will fight to the death on that even if they have to surrender the southern part of the town. I feel so lucky that scumbag wanted an extra $5k after accepting my bid on that house and went with the other counteroffer.
Why not merge. Every dollar that Glen Ridge pays the state for education, $1.00 goes to schools like East Orange. Zero! Not one penny is returned to Glen Ridge. Yet our average cost per student is one third less than theirs. I need not mention the results. A lot more good would come from merging the two districts than from having one pay for the other. Some would say it’s all about demographics. I think it has a lot more to do with the lack of accountability that occurs when handouts are involved. Money is always squandered when it’s other people’s money. If it’s yours, you watch every penny.
Dan…Help me understand your point. Do you think the town should have paid for the pool? I kind of like it the other way where you pay for the services you need unless there is a social need, such as education. In Montclair, the taxes are through the roof since they consider everything a social need. Such as three pools, an ice skating rink, twice a week recycling collection as well as paying staffers overtime so we can manually drop off our recycling all day on Saturday too.
I just saw a picture of Tim Tebow on a slice of marble rye bread; does this mean I’m blessed or something?
Marble Rye? It has to be a fake. No good Christian is going to show up on some Jewish bread.
Lib,
Very good! You caught the irony in that statement!! lol
Gary 33 – How about this one?
http://i748.photobucket.com/albums/xx130/NJGator_photos/jft.jpg
good stuff!
https://twitter.com/#!/GSElevator
Stu,
I was kinda mocking the idea of merging Upper Orange and Glen Ridge. Imagine the bloodfight in lowering the fees on that pool so EVERYONE can be there.
So my Neighbor who bought at peak sold, saw him packing up his above ground pool as new owner does not want it. Here is the run down.
Paid 619K June 2006
Sold 439K January 2012
25K brokerage commission to sell.
Net Loss 205K.
Over time period approximately
10K insurance
50k property tax
25K maint and repairs
For a total of 85k.
Total loss is 300K over 5 and 1/2 years.
But wait. This was not a short sale, guy had equity from sale of prior house. He put down 319K and took out a 300K mortgage. Back then a 30 year mortgage was 6.5% So his mortgage was around $1,950 a month for 66 months or $128,700
So now total loss is 428,700. So he lived there 66 months so that works out to $6,495 a month.
But at least he did not throw away money on renting.
Speaking of renting. The same month he bought house an identical split was for rent a few doors away at $2,500 a month. Lets do math on that.
Rent for 66 months would be $165,000. Renters insurance is like $500 a year so another $3,000 for a total of $168,000.
But wait he would have $319K to invest. Back in 2006 the risk free 7 year treasury rate was 5%. So he would of had $16,000 a year interest for 6.5 years or $104,000.
Which brings cost of renting for 66 months to a net of 64K cost for 66 months. .
So $428,700 cost over 66 months to own vs. renting identical house for 64K. Wait one more minute the renter sill has his original 319K sitting in a 7 year treasury at 5% that matures in six months the owner has no money left.
Dan. That reminds me of what I heard so often at the Montclair Town Council meetings. Whenever it was budget time and as usual the town claimed they couldn’t make cuts, during the public comment, speaker after speaker would claim that Montclair needs to share more services. So often someone would say that Montclair should merge with Glen Ridge for savings. Do you think Glen Ridge would even consider merging their schools with Montclair’s mess of a school system where half don’t even pass AYP and where the cost per pupil is $2,000 more? What gains would be had there?
Gator [56],
Classic!
[17] gary
“F*ck him, then. I hope Brady puts up 6 TDs before he can adjust his jock strap.”
I have nothing against Tebow, but I hope you are right.
[54] lib,
It’s MARBLE rye. That’s like a cinnamon raisin bagel. Goyim flavor!
#51 Libtard: Any town without a large rental housing stock that borders another town that has a large rental housing stock is never going to want to merge with that town.
Nom…
http://www.walmart.com/ip/Arnold-Real-Jewish-Marble-Rye-Bread-1-lb/10449442
[50] dan
$1,500 town pool dues? Yikes.
Brigadoon is $360 for a family to use the town pool complex and it is pretty nice (Stu and Gator may attest). I know people that will find a place and hang out there all day on summer weekends, just letting the kids play and catching up with friends.
[64] 3b
Whenever I hear about this, I think of Garwood. Wedged between Cranford and the Brig, but I can’t see either town wanting it.
[65] lib,
They sell it in Walmart. How authentic is that????? Heck, I grew up on Arnold and I’m as jewish as Tim Tebow (okay, maybe a bit more through osmosis).
Okay, Tebowmania is now officially out of hand if this group is getting in on it.
http://taxprof.typepad.com/taxprof_blog/2012/01/i-believe.html
OT Alert (as if Tebow wasn’t OT enough):
This has to be my all-time favorite legal disclaimer from a lawyer’s blog:
“You’d be a damn fool to rely on this as legal advice. I’ve been wrong many times before, and this might be wrong, too. Go hire some smart tax lawyer or tax accountant to figure out what’s going on with your situation. You might be surprised to find you have a foreign trust when you thought you had a domestic trust. Or indeed, the reverse might be true. This subject is hideously complex and what follows is about as deep as stick figures scrawled in the sand with your finger.”
The last sentence reminded me of grim’s stick figures.
Grim would know better than me but I think our town pool in Wayne is on the lower cost side and seems to be pretty impressive. We’ll have a 8-9 month old at that time but I have no idea if you bring kids to a pool or even a kiddie pool that early.
this guy says the shadow inventory is 10M+
http://www.youtube.com/embed/mSedc_J1hME?source=patrick.net
Well my costs were off as far as Glen Ridge but damn that initiation fee!!!!!
MEMBERSHIP POLICY
How to Apply for Membership
To apply for membership, candidates need to complete an application and mail it to the GRCP at PO Box 8215, Glen Ridge, NJ 07028. Candidates can obtain an application by:
• Downloading one from the website, http://www.glenridgenj.org/pool.htm
• Visiting the pool during the season
• Calling (973)743-2160, leaving a message with name and address (in season only)
• Email the Pool Administrator at poolmanager@glenridgenj.org.
Waiting List
If the Pool’s membership is full, a candidate’s name will be placed on a waiting list and kept in chronological order by date received. Prospective Members on the waiting list will be notified by mail when a membership is available.
Initiation Fees
All Membership categories are required to pay a non-refundable one-time initiation fee ($1250.00; $625.00 Seniors) in addition to a yearly seasonal membership fee. If you do not renew your membership and then wish to rejoin, you must pay the initiation fee again. Neither the initiation fee nor seasonal membership is transferable. (The Initiation Fee and yearly membership fees may be adjusted by the Glen Ridge Recreation and Parks Department on an annual basis).
Membership Categories
• Full Family- Members of the family, permanently residing at the same address. Dependents to the age of 23 years may be included in this membership. (Babysitters and live-in helpers do not qualify as family members. See Nanny/Caregiver Category). Cost per season: $ 750.00
• Couple- Two persons living together as one household. This does not include “room-mates” or shared living arrangement. Cost per season: $500.00
#67 com: It is what will define the suburbs going forward. People will want what they consider to be the idealized version of the suburbs, not suburbs that appear to be cities.
I want to see Tebow bow in prayer after he throws a pick six….otherwise he is a hypocrite…..
Comrade Nom Deplume says:
January 9, 2012 at 1:04 pm
[17] gary “F*ck him, then. I hope Brady puts up 6 TDs before he can adjust his jock strap.”I have nothing against Tebow, but I hope you are right.
Also he must kiss Belicheck’s rings…..
Lol @ those initiation fees. Just take the kids to Barcelona .
http://www.youtube.com/watch?v=cVmODXpkfHQ
NJGator says:
January 9, 2012 at 12:16 pm
Gary 33 – How about this one?
http://i748.photobucket.com/albums/xx130/NJGator_photos/jft.jpg
Re: Tebow: Spent some time in S. Florida recently. Saying anything against Tebow down there can get you killed. What’s scary is that there are people down there who LITERALLY BELIEVE that he IS the return of Jesus. I guess they gave up the warrior on the white horse and believe Jesus has returned in the form of a self-aggrandizing NFL quarterback.
I just hate him for making me root for Roethlisberger yesterday and for the Patriots this weekend.
#59 JJ – Wait one more minute the renter sill has his original 319K sitting in a 7 year treasury at 5% that matures in six months the owner has no money left.
Your neighbor’s financial folly notwithstanding, but doesn’t he still walk away with $114K or so of equity after commission and paying off the $300K mortgage?
re: crime
Glen ridge is more like the Oranges rather than Westfield, etc
Twn/Crime Index
E Orange 25
W Orange 36
S Orange 39
Glen Ridge 40
Millburn 55
Westfield 57
Ridgewood 57
Chatham 64
You wouldn’t like anyone from the street entering this pool, would you? That’s why the high entrance fees.
seif – If that were true would their not be 10x the amount of tax lien sales?
What I find interesting is the amount of million dollar homes going now to the Sheriff sale.
Take a look at Monmouth County, many many million dollar homes going back to the banks. Nobody is going to buy these.
http://www.monmouthsheriff.org/index.php?mod=Foreclosures&start=150&colsort=cs_date%20DESC,s_file&swords=
This is more clot’s speed…..
http://www.youtube.com/watch?v=X_M9M31bsns&feature=related
It indeed used to be the case in the US that you couldn’t hold dual citizenship (except in certain cases if you had dual citizenship from birth or childhood, in which case some Supreme Court rulings — Perkins v. Elg (1939), Mandoli v. Acheson (1952), and Kawakita v. U.S. (1952) — permitted you to keep both). However, most of the laws forbidding dual citizenship were struck down by the US Supreme Court in two cases: a 1967 decision, Afroyim v. Rusk, as well as a second ruling in 1980, Vance v. Terrazas.
And that $1,250 is non-refundable too meaning you stop paying pool dues and you lose it. When it comes to Glen Ridge, not only couldn’t I afford to buy or live in the town, I wouldn’t even be able to afford leaving it!
You should see Montclair’s urban pools. First of all, they are tiny. There is no food allowed nor ever any chairs available. There is no shade whatsoever. The only amenities are a changing room and a bathroom. No slide, no diving board. Just a rectangle with water in it. The pools are always packed with campers and the hours are extremely limited. Every year, two of the three pools close early as the lifeguards head back to college. All this can be yours for $225 per family. There’s always been talk of upgrading the facilities, but then a lot of families couldn’t afford it. Although, families in need use the facilities for free and do not need to provide proof (one of Montclair’s town council members said, “showing proof would be too embarrassing”).
Tonight’s town council meeting should be an awesome one. The mayor wants to sell off the last large contiguous plot of undeveloped land in town to make affordable the housing. This tract backs up to Brookdale Park and would be very valuable, but mayor boob is requiring the developer to make 2 of the 4 plots affordable housing. So Montclair is selling open space to cover operating costs and to provide affordable housing which will result in the township getting much less for the land than it is worth and limiting future property tax revenue as well. Additionally, the increase in taxes as a result of these plots and the 10 kids that will most likely need educating to the tune of $16,000 per year will make this sale tax negative most likely in under five years. But the progressive mayor knows better.
“I wouldn’t even be able to afford leaving it!”
Ha ha.
Look at these pool hours:
Essex Pool will open on weekends from 12 Noon – 7:00 p.m. beginning on Memorial Day Weekend, May 28-30. All pools open Friday, June 24 for the 2011 summer season.
2011 Pool Hours:
Monday – Friday 1:00 – 7:00 p.m.
Saturday – Sunday 12:00 – 7:00 p.m.
Not a build up of equity but part of the original money he put down. Housing was a folly at the peak.
That house has some pricing history
1955 brand new 13,5k
1978 sold for 40K
2006 sold for 619k
2012 sold for 439k
First 23 years house went up in value 26.5k or a little over 1k a month
Next 28 years house went up in value 579k or $1,723 a month
Last six and a half years fell in value around $2,700 a month.
If real estate followed even pre-bubble of going up in value 1k a month new last owner would be fine. But even I could not predict a starter home split level could fall $2,700 a month for 6.5 years straight. That is 66 months in a row loss of almost 3k a month. Ouch.
The Original NJ Expat says:
January 9, 2012 at 2:04 pm
#59 JJ – Wait one more minute the renter sill has his original 319K sitting in a 7 year treasury at 5% that matures in six months the owner has no money left.
Your neighbor’s financial folly notwithstanding, but doesn’t he still walk away with $114K or so of equity after commission and paying off the $300K mortgage?
1200 bucks to hang out in an highly over treated disease ridden chemical bath for the priveledge of hobb knobbing with the joneses. F*ck that, I’ll continue to get my communicable diseases from airports and go jump in a lake when it is hot.
http://www.wired.com/wiredscience/2012/01/invincible-tb-india/?utm_source=Credit+Card+Gist&utm_medium=twitter&utm_campaign=Feed%3A+wired%2Findex+%28Wired%3A+Index+3+%28Top+Stories+2%29%29
When are these people moving to NJ.(Edison/Woodbridge)
#90. That is $1k a YEAR for the first 23 years, right?
http://library.hsh.com/articles/first-time-homebuyers/a-real-estate-agents-5-worst-practices.html?utm_source=twitterfeed&utm_medium=twitter
Grim: This one is for you
Freedy No. 92 Everyone will be quarantined that flys from India into this country. Friggin scary
Why would fancy towns even have a public pool? In the wealthy towns either you use the pool in your yard or the one at the club, who can even stomach the thought of a public pool. In suburbia public pools are a funny concept as it is really easy for most people to put a pool in their yard, since they have(probably) the space it just doesn’t cost that much.
I got a week at Mandalay Bay for just that initiation fee. can’t beat the pools there.
JCer, suburban public pools are the sewing circles of the nows.
Re town pools- I think Clot coined it ” layabouts sunning themselves like bloated walruses hanging around fetid water tanks”. I thought that was perfect.
Yep, My mothers house for instance was bought brand new in 1923 for 3k, she bought it for 36K in 1973 and sold it in 2004 for 550K.
First 50 years it went up in value 33k. Next 31 years went up in value 514K. One guy at open house I told jokingly house went up over ten times for the past two owners. Guy goes wow, so one day this house will be worth 5.5 million!! Crazy nut put a bid in. He was seriously thinking 40×100 3 bedroom houses in the year 2034 would be going for 5.5 million.
1987 condo buyer says:
January 9, 2012 at 2:54 pm
#90. That is $1k a YEAR for the first 23 years, right?
Need more
cowbelllogarithm.Town Pools…
Why not just drop a deuce and stick your head in the f*cking toilet bowl.
(96)
In perceived fancy towns there is no room on the lot to have a swimming pool and a deck, no less.My wife grew up in Roselle Park (no fancy town, for sure) next to a neighbor with an in-ground. No room to piss behind a tree. I visited twice in my life a town pool – Washington (Warren County), NJ where the mothers proceeded to dip their diaper clad tots in the kiddie pool and in Livingston. Livingston, ugh. Ugliest people in NJ. And that was 30+ years looking back with a younger eye.
I have my own now. Thank You. No need to even visit the shore. Sit down with a Sam Smith midweek at 6pm. June to September, that is.
Grim I have a fever and the only thing that is going to cure it is more …logarithm
doesn’t work
lots of people just don’t want a pool. Too lazy for maint. I was suprised when my neighbors house sold to a young couple they had him take down above ground pool.
Lots of people I say half refuse to do any work associated with a pool.
In this case I was only suprised as it was a pretty new pool, six years old, only an 18 oval, did not take up that much of yard and included all equipment in perfect shape. Pool was a gift. Since owner closed it properly I was suprised new owner would not at lets say try it on summer. I mean closing an above ground pool is a pain. But if only taking off cover adding some chemicals and swimming why not give it a try.
My house I bought in winter had an old above ground pool. I say 75% of people who came to my house that winter was like you taking it down, I was like I got all the equipment, pool was closed why wouldnt I keep it at least for one summer. I had people go I can’t stand even looking at it. To this day every time liner needs replacing, pump needs fixing people go so you taking it down? Funny what do they care?
Sadly when I sell house their is a 75% chance new owner will take ax to pool as soon as we close.
Funny part is I don’t think new neighbor may realize not only do I have a pool, it is 45 feet from their fence. Plus I have three kids who don’t go to camp. Plus I have a stay at home wife Plus with so many working Moms my house while I am at work is like Play Date Central. I can only imagine sitting in their hot yard with no pool listening to multiple kids in my pool. I know it sucks as I took my pool down one winter and did not ge the new one up this mid July, I had a neighbor to left and neighbor to right in the pools screaming and yelling while I sat in folding chair next to kiddie pool.
I still laugh when I took down pool briefly neighbor behind me started building a deck overlooking where my pool was. When pool went back up he halted work last year and never restarted. I guess over looking a nice emply yard on a deck is peaceful, overlooking multiple kids in pool is not. He jumped too soon, he should have waited to see if I planted grass first.
Good article on meritocracy and American capitalism:
http://www.city-journal.com/2011/21_4_meritocracy.html
Lib [89];
Looks like it works out to be one shift a day. Can’t budget any overtime (not to say they won’t pay any).
I remember the Metro parking lots on the outskirts of DC (Greenbelt, MD in my case). Only the parking lots at the ends of the line charged to park. They only collected on your way out, between 1-8 PM, M-F. Goals: A) Soak the evil pale-faced commuters from the outer burbs; — Don’t want to pay, leave early or late — If you work for a living in the private sector and want to get home in time to put your kids to bed, you pay; B) Keeps the staffing costs down — outside those hours they didn’t collect enough money to justify paying someone to collect it.
By good find, best read in a while
JJ, an above ground pool? That’s so bush league, do towns around here even allow it? I think in Bergen you’d be assassinated for putting one up. Weirdest thing I’ve seen is an in-ground pool behind a house in jersey city on a city lot, how they managed it I don’t know, but the yard was basically a pool.
Talk about price mismatch.
From 895k to 699k or 21% in only a few short months.
http://www.zillow.com/homedetails/163-N-Walnut-St-Ridgewood-NJ-07450/52907650_zpid/
hi guys, followed Juice Box’s link to Monmouth Sheriff Sales….http://www.monmouthsheriff.org/index.php?mod=Foreclosures&start=500&colsort=city&swords=
so exactly, what is actually the likely situation (what’s going down) when you see a home judgement for a million dollars and it says it sold for $300? Is it just outstanding tax liens that the buyer is responsible for? Someone educate me please??? thanks
#09 If you really want to be assassinated, try putting up a clothes line!!!
106
Very good read, I just wish people would saying this country is or is supposed to be a democracy when Republic is the form of govt mandated
#12 A clothes line outside I should have said.
#111 Foreclosures for cheap (not): Unfortunately the Monmouth site isn’t as detailed as some other like Morris County. Typically the low ball purchase amounts are the bank taking the property back as REO. The high numbers usually correlate to a true third party purchaser. The Morris County Sheriff’s site names the purchaser which doesn’t look to be listed on the Monmouth site.
Above ground pools are insanely popular on Long Island. Nobody wants an inground pool. The quirky tax code says an above ground pool requires just a safety check to build and does not increase your property taxes. An inground pool jacks your taxes up. Plus with an ingound pool you cant take it out. Whole other scam is you can sink and above gound pool up to 36 inches into ground. I see whole bunches of 54 inch pools with only 18 inches sticking out of ground and has a deck around it. Looks just like an in ground pool. But lot easy to yank out a vinyl liner and alum wall and fill in 36 inches of dirt. Cement pools are a nightmare.
Just like you see hardly any central air as that raises your taxes too, but through the wall ac does not. My favorite is a steel, wood or metal shed or any shed on a concrete foundation raises your taxes. Hence my rubbermaid 10by10 shed on a non attached pressure treated floor. You also see florida rooms with space heaters as heated rooms are taxed at a higher rate.
It is illegal to evade taxes but legal to avoid taxes. I also like the new homes all have a one car driveway. Why pay property taxes to park three cars when you can leave two of your cars on street in front of house tax free. Plus you never have to worry about people parking in front of you house.
Garden City Long Island you never see an above ground pool. They are extremely restrictive on fencing in yards, must be low and you need a permit and can’t block neighbors view. Meanwhile an above ground pool requires a solid six foot fence around it so hence no pools.
In great neck the asians often put clothes lines on their front yard on million dollar homes so they don’t have to look at their clothes when they are in their backyard, now that is Chinese Chutzpa
JCer says:
January 9, 2012 at 4:22 pm
JJ, an above ground pool? That’s so bush league, do towns around here even allow it? I think in Bergen you’d be assassinated for putting one up. Weirdest thing I’ve seen is an in-ground pool behind a house in jersey city on a city lot, how they managed it I don’t know, but the yard was basically a pool.
116 – House mullet?
The End Is Nigh (JJ Spouse Edition):
LI mom strips to pay bills
By KIERAN CROWLEY
A Long Island mom who in her co-ed days posed for Playboy is now working as a stripper in Manhattan to pay expensive legal bills in her battle to get custody of her 4-year-old son.
“I’m dancing to pay for justice, to get my baby back,’’ said a tearful Nicole Montiglio, 41, of Great Neck.
Montiglio lost custody of her son, Sal, in November after a judge noted that she repeatedly reported that her estranged husband, John, was abusing the child — claims never substantiated by investigators.
As a result, Sal was placed with her husband’s brother.
Montiglio claims that Sal told her his dad abused him while bathing him, but officials found no evidence. John Montiglio declined to comment.
Nicole Montiglio’s lawyer, Leslie Barbara, said: “This is a case of ‘Alice in Wonderland.’ A mother seriously believes . . . there is . . . abuse . . . and custody is given to the father’s family.’’
The End Is Nigh (Twinkie Edition):
Editor’s Note….how in the world can you fcuk up this business???
BUSINESS
JANUARY 9, 2012, 6:28 P.M. ET
Hostess Brands Preparing for Chapter 11 Filing .
By MIKE SPECTOR And JULIE JARGON
Hostess Brands Inc. is preparing to file for Chapter 11 bankruptcy protection as soon as this week, said people familiar with the matter, a move that would mark the second significant court restructuring for the Twinkie and Wonder Bread baker in the past several years.
The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company’s roughly $2.5 billion in annual sales, creating losses and cash shortfalls, they said.
Hostess also currently owes more than $50 million to vendors, which have been demanding payments on shortened timeframes after delivering goods because of Hostess’s financial condition, one of the people said.
Hostess’s filing would mark what’s known as a “Chapter 22” in restructuring circles, since the company had already sought bankruptcy protection once before. Hostess, before called Interstate Bakeries Corp., slashed debt and costs during a four-year stint in bankruptcy court that began in 2004. The company has struggled since emerging from bankruptcy proceedings in February 2009.
The company’s private-equity owner, Ripplewood Holdings, invested $40 million in Hostess last year to no avail. Hedge funds Monarch Alternative Capital, Silver Point Capital and others loaned the company $20 million late last year, but Hostess continues to have cash problems.
Hostess has lined up around $75 million in so-called debtor-in-possession financing to keep the company afloat during bankruptcy proceedings, the people said. Monarch, Silver Point and some other investors have agreed to extend the bankruptcy financing, with an option for other senior creditors to provide parts of the loan, the people said.
Once in bankruptcy court, Hostess will try to reduce debt and renegotiate labor contracts, many of them with the International Brotherhood of Teamsters and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, the people said. Hostess plans to file court papers soon threatening to reject or modify labor contracts under applicable bankruptcy rules, the people said. Such moves provide troubled companies a bargaining chip to try and get concessions from unionized workers.
A Teamsters spokesman declined to comment. A spokeswoman for Hostess’s other main union didn’t immediately respond to a request for comment.
Sales of Hostess’s signature Twinkies have recently declined a bit while the overall bakery snacks category has been about flat. Nearly 36 million packages of Twinkies were sold in the year ending Dec. 25, down almost 2% from a year earlier, according to data from SymphonyIRI Group, a Chicago-based market research firm. The data captures sales from supermarkets, drugstores, mass-market retailers and convenience stores, but excludes sales from Wal-Mart Stores Inc. and club stores.
Even so, Hostess has had trouble attracting consumers who have migrated away from white bread to whole grains and other healthier foods. Hostess released a whole-grain bread called Nature’s Pride, but it hasn’t sold well amid a small presence on shelves.
In addition, Hostess kept prices relatively high, making it harder to charge even more as costs for ingredients and fuel rose.
Hostess’s bankruptcy filing would join the ranks of other companies forced to seek bankruptcy protection a second time in recent years. Between 2007 and 2011, more than 50 companies commenced “Chapter 22” bankruptcy cases, according to the most-recent data compiled by Edward Altman, a New York University finance professor.
One of Hostess’s challenges will be to avoid liquidation, the fate of some other companies seeking bankruptcy protection a second time. In the past several years, for instance, Hollywood Video chain owner Movie Gallery Inc. and Polaroid Corp. have gone out of business after seeking bankruptcy protection a second time.
Others have survived multiple bankruptcies, including auto supplier Hayez Lemmerz International and Pliant Corp., a packaging company acquired after its second reorganization.
One sticking point for the baker: It pays about $100 million a year into so-called multi-employer pension plans that cover workers at a wide array of companies, the people said. Hostess, whose pension plan is underfunded by about $2 billion, wants to rescind its obligations to that plan and start paying into a plan that only covers its own workers, one of the people said.
Overall, Hostess carries hundreds of separate labor contracts that the company believes imposes cost burdens, people familiar with the matter said; the company also wants to reduce benefits costs.
The company also hopes that in bankruptcy it can attract new capital to bring production and distribution operations up to date, one of the people said.
Interstate Baking Co., the name Hostess used to go by long ago, was formed in 1930. Some brands Hostess still sells, including Drake’s cakes, predate the company. In its infancy, the company made loaves of bread for grocery stores to sell.
In the 1960s and 1970s, the company grew by acquiring several other baking outfits across the U.S. By 1995, the company had changed its name to IBC, and purchased its largest rival, Continental Baking Co., for $330 million, maker of Wonder Bread.
Hostess is being advised by law firm Jones Day and financial services firm Perella Weinberg Partners. Hostess creditors are being advised by investment bank Lazard Ltd.
Ironically, anyone I know who has a pool inevitably always ends up at our club. Kids and parents want to be with friends, at pool/lake. Also, the aggravation of pool maintenance for use just before memorial /after labor day is more trouble than it’s worth. Has always been a non-issue for us as kids go to summer camp, and we’re away for the rest.
118 Chi that must be one hell of a good looking 41 year old if she is stripping in Manhattan. now queens sounds or harlem at that age sounds more believable
Town pools. Yuck. In Allenhurst for $2800 your family can have a cabana on the beach with water, electric and a kid to set up/breakdown your chairs, umbrellas, towels from Memorial Day to October. Even better is the out of town fees and day beach passes offset the property taxes. With no school tax except tuition for those that attend public school (which is nobody)a house assessed at $900,000 pays around $6,300 in property taxes.
Re the Glen Ridge Pool, there’s a reason that it is so expensive:
“The Glen Ridge Community Pool, located at 35 Clark Street, is a membership-driven organization not supported by tax-payer dollars. ” The joiner’s fee “is a one- time non refundable fee that is invested into the pool.”
Cheaper than the country club, but nicer than the Montclair public pools. The other popular private pool club in the area – the Montclair Beach Club is way more expensive. A family of 4 will pay $1100 in initiation fees plus $2400 in dues in 2012. Cabanas have a waiting list and they are an additonal $3300 for the summer.
http://www.themontclairbeachclub.com/membership.htm
(120)
Aggravation is for girly men. It takes me 3 hours to open the pool, usually with only 10 minutes of help from a family member. This past fall, I closed it completely by myself in 3 hours. That’s for a 40 footer. It does help if you have an industrial style compressor in your basement that’s piped throughout the outside of the house and of course, 100 feet of hose.
You have those options if you GC your house.
I would think that the cost of electricity for the pump and chemicals and maintenance would exceed the $480 annual cost here in cedar grove.
1987 – Your property tax dollars likely subsidize the cost.
gator [123]
Glen Ridge pool is a ripoff, probably their water treatment system uses unicorn skittles as filter aid – or there are way too many trustees’ kids to employ. Excellent New Providence pool (membership owned, as well) is about half the price, and initiation fee is $335. FWIW you can join as a non-resident for less than you’d pay at home at GR.
http://www.nppool.org/Rates.html
2012 predictions worth a read – http://www.theburningplatform.com/?p=25234
sorry, wrong url – http://www.theburningplatform.com/?p=27063
Tebow who?
This is the true second coming in sport!
http://www.espn.co.uk/football/sport/video_audio/130101.html
The Invincibles were the last Wanker team that didn’t play like a bunch of nancy boys. A replay at Leeds wouldn’t have gone too well for your team; Henry bailed you out.
Just don’t bring back the Gillette commercial with Henry, Tiger and Brady.
#132 Clot,
I was reading the reports on Messi taking the Ballon D’Or today beating out Xavi who was third. They were both in the starting lineup when we beat them last year. Its moments like that when I remember that we are one of the biggest and best clubs in the world and one of the few teams that Barca don’t want to meet.
In the spirit of this blog, this is this is how you really play with the houses money.
http://www.independent.co.uk/news/world/americas/las-vegas-casino-tycoon-gambles-5m-on-backing-for-newt-gingrich-6287009.html
Chi, do you still think Mitt gets to the finishing line with out any major war wounds?