From the Star Ledger:
Top 30 N.J. towns with heaviest tax burden based on level of taxes compared to income
The top 30 most heavily taxed N.J. towns:
30. Magnolia (Camden County)
29. Washington Borough (Warren County)
28. Mount Ephraim (Camden County)
27. Pompton Lakes (Passaic County)
26. Pohatcong (Warren County)
25. Willingboro (Burlington County)
24. Irvington (Essex County)
23. Newton (Sussex County)
22. Bloomingdale (Passaic County)
21. Ridgefield Park (Bergen County)
20. Glassboro (Gloucester County)
19. Barrington (Camden County)
18. Somerdale (Camden County)
17. Stratford (Camden County)
16. North Plainfield (Somerset County)
15. Penns Grove (Salem County)
14. Prospect Park (Passaic County)
13. East Orange (Essex County)
12. Haledon (Passaic County)
11. High Bridge (Hunterdon County)
10. Lindenwold (Camden County)
9. Orange (Essex County)
8. Laurel Springs (Camden County)
7. West Orange (Essex County)
6. Lawnside (Camden County)
5. Hillside (Union County)
4. Woodbury (Gloucester County)
3. Salem City (Salem County)
2. Roselle (Union County)
1. Woodlynne (Camden County)
Just realize the methodology behind this piece is garbage.
Comparing the income of all households in a town (renters and owners) with the property tax of homeowners? What does that yield? The poorest towns will rank highest, but only because property taxes are not based on income.
I was reviewing source doc last night, see below. Some good discussion on impact of the Abbott decision on the property tax spiral….
http://cgs.rutgers.edu/sites/cgs.rutgers.edu/files/images/68015-Property%20Tax%20Determination%20Final.pdf
I think the comparison of income to property tax burden further shows that the 1976 income tax plan to help out the property tax burden was destroyed by the introduction of the Abbott District funding methodology…so in fact the poor were further hurt by a plan to help the poor
From the WSJ:
Housing Recovery Is Here to Stay, Dallas Fed Says
The U.S. housing recovery appears sustainable, according to new research from the Federal Reserve Bank of Dallas.
“A necessary condition for the home construction recovery to continue is a sustainable home-price turnaround,” wrote John Duca, vice president and associate director of research at the Dallas Fed, in a report titled “The Long-Awaited Housing Recovery.” Based on several metrics, he wrote, “this condition appears to have been met.”
U.S. home prices bottomed out in 2011. Their subsequent rise, Mr. Duca wrote, appears consistent with “key measures” such as the inventory of homes on the market, the cost of renting versus owning and the affordability of mortgage payments.
Still, he wrote, “while the U.S. housing recovery will probably continue for some time, its pace and composition will be affected by the nature of the labor market recovery, the movement of mortgage interest rates and the difficult-to-predict evolution of credit availability to prospective homebuyers and to homebuilders and developers.”
From HousingWire:
Who does the Fed think they’re fooling?
While there are some conclusions in the report drawn from incontestable data such as the growth in new starts and inventory levels, other elements of the report seem to be at odds with outside studies and information.
3 – Why do I feel the end result of this will be higher property taxes?
Roaring 80s are back boys, the 911 available in a targa once again
“As a researcher at the Rutgers’ Center for Government Services in New Brunswick, he sent out a release on Thursday that found high levels of municipal and school spending are rarely responsible for tax burdens in the states burdened municipalities.”
WTF is this guy talking about? School and municipal part of the tax bill are exactly the reason for the high tax burdens. I’m looking at my tax bill and combined they compromise just slightly more than 85% of the bill! BTW, the town I live in is on that list. This piece is garbage because it doesn’t address the real reason property taxes are high where I live. The majority of the bill is the school portion and we don’t get the aid from the state that the former abbott districts do. So, they shift the burden to the property tax bill….
Look … a squirrel!
Pick any house similar to mine in a former abbott district and you’ll probably find it has a property tax bill at least the same as mine or even more. And they recieve the majority of the school funding from the state. Where is all the money going in these areas? The money hasn’t improved education in those areas and it certainly hasn’t relieved the property owners of any tax burdens.
The 2013 tax rate is $3.397 per $100 of assessed value.
The taxes are apportioned as follows:
•Municipal Tax – 33.88%
•County Tax – 14.43%
•School Tax – 51.69%
Yeah municipal and school are “rarely” responsible for the tax burdens.
In 1994 my breakdown was:
Town: 15%
County 35%
School 50%
Last Year
Town 23%
County 23%
School 55%
Grim but is the squirrel sharpened? Or should it be look out squirrel?
chi – joined the over 35 hoops league in town, starting next week. do u play?
Just like the cops I posted about last night, here are some more of the people that Fabian and anon think you should rely upon unreservedly for your safety.
http://www.cnn.com/video/standard.html?/video/living/2014/01/17/dnt-911-dispatcher-hangs-up-during-call.klas&hpt=hp_t2&from_homepage=yes&video_referrer=http%3A%2F%2Fwww.cnn.com%2F
This is some funny Shiite.
http://www.cracked.com/photoplasty_119_instructional-diagrams-people-who-suck-at-everyday-life_p18/#4
I’m out. Happy Friday everyone.
[17] We should rest assured that active duty and retired police officers trust 911 and the government to protect themselves and their families, and feel no need to possess or carry a firearm in their civilian capacity or after they have retired from the police force.
Right?
Right?
I would say 100% YES. Much Much more so than regular folk.
Oncc some nut jumped me outside a bar on top of my block when I was 19 I was not even in bar walking by. Anyhow cops came and they saw I lived on block and said they would take statement at house. Well these two guys showed up half asleep to do report 15 minutes later. My mom told them my uncle is in the FBI and the best man at her wedding and her cousin is the Captain of a Precient in Queens and this better get resolved this night. They immediately did a massive Hawaii 50 search for this guy, caught him and arrested him and the idiot still drunk swung on the officer!!!! Ran into the nut twice in next two years and both times his face went white and he took off.
You have cops in your family or are a retired cop you dont need a gun you have 20,000 guys nearby with guns to do it for you.
Happy Renter says:
January 17, 2014 at 10:39 am
[17] We should rest assured that active duty and retired police officers trust 911 and the government to protect themselves and their families, and feel no need to possess or carry a firearm in their civilian capacity or after they have retired from the police force.
Right?
Right?
I play in an under 35 league.
BearsFan says:
January 17, 2014 at 9:54 am
chi – joined the over 35 hoops league in town, starting next week. do u play?
Give up your own constitutional rights. We’d like to keep ours.
20.JJ says:
January 17, 2014 at 11:19 am
I would say 100% YES. Much Much more so than regular folk.
Oncc some nut jumped me outside a bar on top of my block when I was 19 I was not even in bar walking by. Anyhow cops came and they saw I lived on block and said they would take statement at house. Well these two guys showed up half asleep to do report 15 minutes later. My mom told them my uncle is in the FBI and the best man at her wedding and her cousin is the Captain of a Precient in Queens and this better get resolved this night. They immediately did a massive Hawaii 50 search for this guy, caught him and arrested him and the idiot still drunk swung on the officer!!!! Ran into the nut twice in next two years and both times his face went white and he took off.
You have cops in your family or are a retired cop you dont need a gun you have 20,000 guys nearby with guns to do it for you.
JJ, NY State is completely Fkuked up on the subject. No one in NY state wants your dumb NY Safe act. Counties in and around NYC have imposed their will on the rest of NY state who wants nothing to do with it.
Counties in NY State who’se government passed a resolution opposing the NY Safe Act:
http://www.nysaferesolutions.com/
No, but I know a good number of the guys in the league because of our kids. Some really good guys in there….great way to get to know the town….do you have kids…and if so, what ages?
BearsFan says:
January 17, 2014 at 9:54 am
chi – joined the over 35 hoops league in town, starting next week. do u play?
The End Is Nigh (NY Jets TE Edition):
http://nypost.com/2014/01/17/jets-kellen-winslow-was-masturbating-in-car-witness/
@BenedictEvans: 3m ATMs on earth, 95% running XP http://t.co/Pvr8aGdlgx
Hey grim. Check out my website. You want to team up? I would love to have a conversation with you. Call me. 908-242-6782
http://freehousepricereport.com
It wouldn’t be that hard to upgrade them but still plenty of banks won’t even bother. 95% sounds much too high too…plenty of machines that I helped install were purchased used and already a decade old and were still runing aincient versions of UNIX and OS2 Warp. I know that some of those are still in use today.
28.anon (the good one) says:
January 17, 2014 at 12:26 pm
@BenedictEvans: 3m ATMs on earth, 95% running XP http://t.co/Pvr8aGdlgx
Given that Treasury rates are expected to increase this year, returns of high quality munis should be relatively low – on the order of 1% and 2%. Hence, we recommend overweighting lower-rated tax-exempts, which provide attractive breakevens. We especially like municipal high yield bonds, which in some cases trade cheaper than HY corporates. Hence, we brought the high yield allocation of our portfolio to the maximum allowed weight under our defined constraints….
In our view, the muni tax-exempt curve should flatten over time. Hence, we see very little value in the front end, and extend the duration of the portfolio almost to its allowed maximum.
He claims he was going to Boston Market got lost ended up in Target and while thinking of chicken he thought of Jerk Chicken.
chi 23 – yes, my kids are 5 and 2. Glad to hear u know some of the guys and are thumbs up, I’m def looking forward to it.
California in worst drought in about 100 years
http://www.cnn.com/2014/01/17/us/california-wildfire/index.html?hpt=hp_t1
Has the Sun gone to sleep?
http://www.bbc.co.uk/news/science-environment-25771510
My kids are 7 & 4….. first grade and pre-K ….. if you need a primer on stuff, my wife would gladly help out…. if your 5 year old is a boy, sign him up for T-Ball, because a lot of the dad’s are in the 35+ league…..they always have compression wraps on their legs and/or knee supports etc…..
BearsFan says:
January 17, 2014 at 1:17 pm
chi 23 – yes, my kids are 5 and 2. Glad to hear u know some of the guys and are thumbs up, I’m def looking forward to it.
you know where Springsteen is right?
thanks, my daughter is the 5 and my son is 2. We’ve been starting to ask her what activities she wants to get involved in, but she hasn’t picked anything yet. I’ll prob end up volunteering maybe next year for the pop warner team, I have a fairly extensive football bg and thought that would also be a great way to get involved.
Bruce…I’m not positive but I think I googled it way back and it was off Laird, no? Kinda behind you?
35+ bball league? I’m going long non-steroidals…
California drought:
“Everybody’s been talking about how low the lake is,” said Ramone Velazquez, who was visiting with his wife, Mariana, and their young daughter, Juliet.
“I’m really worried about how this drought is going to affect us,” he said. “I heard about the drought in the `70s, and how people couldn’t water their lawns and wash their cars. They could take only one-minute showers.”
“Can you believe that?” his wife said. “We’re used to taking an hour.”
1 hour showers?
http://www.nytimes.com/2014/01/18/us/as-californias-drought-deepens-a-sense-of-dread-grows.html?hp&_r=0
Sign of the times. The Lowes hardware in Wilmington Delaware is now selling gun safes.
Lowes should give away gun safes for free for one year and then remotely change the combination to them all.
Comrade Nom Deplume says:
January 17, 2014 at 4:13 pm
Sign of the times. The Lowes hardware in Wilmington Delaware is now selling gun safes.
re: California drought:
Tahoe has horrible snow cover this year.
http://www.skilaketahoe.com/weather/snow-conditions
[41] juice
That was what we kept hearing over the holiday break while we were in Utah. For what it’s worth, they aren’t much better. It might be a very tough summer in that part of the world.
The outlook for a bailout of democratic states just became a bit clearer.
http://www.cnbc.com/id/101345437
Excerpted from the study . . .
“At the bottom of the rankings are New Jersey and Illinois. New Jersey faces long-run solvency problems due in part to nearly 15 years of underfunding its state and local pensions. It has an estimated unfunded pension liability of around $25.6 billion as well as $59.3 billion in unfunded liabilities for the health benefits of retired teachers, police, firefighters, and other government workers (State Budget Crisis Task Force 2012)”
Not to kick the hornets nest again before I get some much needed shut eye, it was pointed out elsewhere that the retired Florida cop in the theater shooting could have legally carried anywhere in the nation.
http://www.fop.net/legislative/issues/hr218/hr218faq.pdf
Nom….43…looks a lot like the blue states. Isn’t it funny how Anon likes to point out the problems with poverty and education in the red states, but the map of insolvency looks like the blue states.
Grim,
An appeals court has ruled that bloggers are journalists for purposes of the First amendment.
So spew that bile. And anon gets his wish to be a modern day Jean Paul Marat. Lets hope he’s a stickler for historical accuracy..
44 – Who made those promises?
I didn’t make those promises.
You want your money, go find the politicians that made the promises, ask them where the money is.
Perhaps maybe unions will think twice about strong-arm negotiations, what good is negotiating yourself a benefit if by doing so you put all your benefits … and ours … at risk of insolvency.
Skewer away, but frankly, the promises of some old political machine are not my problem. I question the authority of any of those administrations to have made promises without any forethought about how they were to be delivered.
All those pensions should be considered null and void, illegal even. I laugh when I hear a politican talking about saddling the children with these debts. Don’t be so naive (I’m being kind, you are an idiot), the children, they aren’t going to pay.
Don’t look to me with your hand out, go find the political fat cats that used you to buy an election and prosecute them for fraud.
But the money? Yeah, that’s all gone now.
Wooooo! Damn it feels good to be a
gangsterjournalist.