Jersey benefits most from SALT cap increase

Posted on July 2, 2025 by grim

From Axios:

Some homeowners could see tax breaks if Trump’s bill passes

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

61 Responses to Jersey benefits most from SALT cap increase

  2. Very Stable Genius says:
    July 2, 2025 at 6:34 am

    Lucky Boomers sleeping in, raising the government debt and receiving free universal healthcare.

  3. VSG says:
    July 2, 2025 at 6:36 am

    Texas listed at no.9
    It’s a highly taxed maga state. No worth it

  4. Fabius Maximus says:
    July 2, 2025 at 6:38 am

    “The fruit is rotting in the fields.”

    more like

    In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage

  5. Dark Phoenix says:
    July 2, 2025 at 6:57 am

    Comical, yet true.

    Very Stable Genius says:
    July 2, 2025 at 6:34 am
    Lucky Boomers sleeping in, raising the government debt and receiving free universal healthcare.

  6. Dark Phoenix says:
    July 2, 2025 at 7:19 am

    Trump halts Ukraine weapon shipments.

    Has it been 24 hours yet?

  7. SmallGovConservative says:
    July 2, 2025 at 7:25 am

    Lib,

    Saw your update from yesterday; hoping new and better opportunities arise for both you and your wife.

  8. Dark Phoenix says:
    July 2, 2025 at 7:33 am

    I bought my first robot from Amazon. Received it yesterday.
    When powered up, it screamed ” Harcort, Harcourt Fenton Mudd.”

    Amazon will soon have more robots than human employees working in its warehouses.

    The retail giant has long been increasing automation for tasks once completed by humans.

    As a result it now has more than one million robots in its workplaces, according to the company’s own data.

    This new record is nearing the amount of human workers in its facilities, and will soon surpass them.

  9. Fast Eddie says:
    July 2, 2025 at 7:44 am

    If NJ property taxes was a baseball team, they’d be 35 games ahead of the 2nd place team mid way through the season. That chart is astonishing to look at and proves nothing other than an abusive state government. If you’re not already in the housing game, you’re screwed. Price and taxes are like suffering the effects of a severe concussion.

  10. VSG says:
    July 2, 2025 at 7:55 am

    You are

    Fast Eddie says:
    July 2, 2025 at 7:44 am

    … suffering the effects of a severe concussion

  11. VSG says:
    July 2, 2025 at 7:56 am

    You complain about NJ taxes while increasing the federal debt by 5 Trillion

  12. Dark Phoenix says:
    July 2, 2025 at 8:03 am

    It’s actually 5 Gazillion/QuadazzperDrillion.
    Funny money on printing press.
    Have some of Grim’s hooch, you will forget all about it.
    Just remember, don’t look at those kids in the playground.
    You know, the ones whose future you fucked financally and literally.
    “That’s what you did Boomer.”

    VSG says:
    July 2, 2025 at 7:56 am
    You complain about NJ taxes while increasing the federal debt by 5 Trillion

  13. Fast Eddie says:
    July 2, 2025 at 8:16 am

    … suffering the effects of a severe concussion

    Thank G0d you’re paying for my boomer universal healthcare.

  14. Libturd says:
    July 2, 2025 at 8:26 am

    Another NO SHIT SHERLOCK headline.

    I look forward to the first Amazon robot strike.

  15. RentL0rd says:
    July 2, 2025 at 8:38 am

    Should we all be a bit salty?

    What We Know (and Can’t Know) About Trump’s Wealth
    By Ben Protess, Andrea Fuller and David Yaffe-Bellany July 1, 2025
    ASSET VALUES

    Cryptocurrencies
    As much as $7.1 billion

    Stocks, bonds and cash
    At least $2.2 billion

    Real estate and other business holdings
    At least $1.3 billion

    FEES & PAYOUTS

    Crypto ventures
    At least $620 million since 2024, some shared with partners

    Royalties
    At least $11 million in 2024

    LIABILITIES

    Real estate debt
    At least $100 million

    Lawsuit judgments
    $540 million plus interest

  16. SomeOne says:
    July 2, 2025 at 8:38 am

    Lib, hope your savings have reached the FU money level already (or adjust the COL to meet that threshold). Hope you find better opportunities soon — before the severance barely runs out even. Hope that there is no impact on D’s coverage.

  17. VSG says:
    July 2, 2025 at 9:00 am

    Che Guevara tried to impose similar health system in Latam but Fidel Castro told him that it was too expensive. Too communist I guess

    Fast Eddie says:
    July 2, 2025 at 8:16 am
    … suffering the effects of a severe concussion

    Thank G0d you’re paying for my boomer universal healthcare.

  18. RentL0rd says:
    July 2, 2025 at 9:00 am

    If I were to restart my career I would look at defense. Get a security clearance and join one of Europe’s defense companies, which are getting the biggest boost in budgets ever. Last year the spending went up 10% – biggest increase ever, and this year projected to be much more.

  19. Hold my beer says:
    July 2, 2025 at 9:10 am

    Found out I’ve maxed out of pocket medical expenses for the year. Winning?

  20. Libturd says:
    July 2, 2025 at 9:39 am

    I max in January.

    Company offered me Cobra till end of the year at about 4K a month. Wil price the exchanges, but then we start new deductibles. Will share the experience.

  21. Libturd says:
    July 2, 2025 at 9:44 am

    Got the car washed this mornng. Exterior only was $13 tax included. The gold wash is now $40!!! WTF? I wax it by hand and do the interior myself. I guess these places want everyone on the monthly subscription.

  22. Juice Box says:
    July 2, 2025 at 9:57 am

    Re: “ Amazon robot strike”

    Philly workers on strike, no garbage collection for you.

  23. Chicago says:
    July 2, 2025 at 10:13 am

    Lib: you’ve shared in the past your grand vision of Vegas/Pura Vida. I was trying to remember the timing of things. I am talking shop, so for me this is just an intellectual exercise.

    You were fully funded and planning the off ramp already. Was the future dating due to your younger one? You are held here by needing to having him finish off high school?

    I assume your severance is at least one week per year of service? You don’t need to sign the papers; you can consult an employment attorney if you wish. I assume healthcare coverage is paramount until he is emancipated. You should bargain hard that they should extend it for the balance of 2025 at least. Is the severance a lump sum or is it being paid as if you were still on payroll? If they are completely kicking you off their platform, go register for unemployment as soon as you are eligible. They will not back date any benefits you miss.

    Also this gives you a potential window in 2026 for Roth Conversions. Push as much taxable comp as possible in 2025 & 2027.

    If you indeed move to Nevada, then COBRA may be your ticket while you cool your jets.

    I’ve dealt with is crap too many times, and the most important thing is between your ears. Regardless of how mentally strong you are and disciplined, these fuckers just kicked over your chess board. You are Captain Cheapo and a master planner. It is a rough thing to process. Let yourself settle down and breathe. Don’t focus in what was planned. Just treat this like a death. Same mental process. Don’t make major decisions until you have a clear head.

    Kids also have warped perceptions of events. Your skater in Florida is watching you. Make sure he gets a clear picture of how you see things. You would be doing him a favor that would impact him for a lifetime.

    I had a client who was a Duke grad and ran an entire regional hospital system. She was is her early 60’s and every six months for about 3-4 years she kept saying “I hope the package me out.” Well, it finally happened and she came in to talk with me. Silence. I was like. How you doing’? She sobs uncontrollably for about 2 minutes. My first reaction was WTF? But I learned from that.

    Review everything on an NPV basis. Restated, the way forward is not always a straight line. Trying out some freedoms when you are younger may help to make you richer 10 years from now.

    Libturd says:
    July 1, 2025 at 7:14 pm
    Thanks all.

    Got severance. About a year ago, they realigned my team away from the division we were part of since the beginning. The new division had no clue as to what we did nor had any loyalty. I’m sure they’ll need me to consult. Of course, they will have to pay. Lots of opportunities out there for someone with my knowledge and management skillset. Especially in regards to automation. I’ll keep you all abreast. I will not waste much time on this. If I take my best worker with me, I would suggest you short the U.S. division. She is THAT tangibly valuable.

  24. Hold my beer says:
    July 2, 2025 at 10:38 am

    Libturd

    4k a month sounds expensive. I thought family of 4 silver level package on an exchange was around 2k a month.

  25. RentL0rd says:
    July 2, 2025 at 10:42 am

    Agreed with carwashes getting out of hand. I paid $24 for something called “Superior” service. But they wiped the dash but nothing else inside. When I showed a spot that was dirty inside.. they wanted me to pay $50 and wait 40 mins.

    Came home and cleaned it myself.

    Regarding looking for insurance in the market, which I never had to explore, what reliable resources are out there?

  26. Hold my beer says:
    July 2, 2025 at 10:48 am

    Car washes have gotten expensive in my area too. I just get the basic one for $10 or $12 now.

  27. BRT says:
    July 2, 2025 at 10:49 am

    On interior, if you have one of those handheld massagers and a shop vac. The massager vibrates the dirt/dust that’s stuck in the floor and mats into the air for you to capture it with the vac. The other thing I do is take an electric blower and blast every crevice prior to wiping down.

  28. Dark Phoenix says:
    July 2, 2025 at 11:00 am

    Nobody likes the Affordable Care Act until they need it.

    As middle class Plebs in America, we burn through cash at a furious pace.

    I’m just sad it’s Lib, and not someone who wanted to get rid of insurance for all.

    I was doing fine in life until someone lying to a judge and a cop took me out.

    One job loss, a sick family member, a divorce.

    Then suddenly you are the person you used to complain about.

    If Lib suddenly became homeless, would he be any less of the guy we all know on here?

    Would you toss him some Chex Mix Eddie, or would you call the PoPo and have him beaten and dragged away?

  30. Dark Phoenix says:
    July 2, 2025 at 11:36 am

    It’s the guys, right??

    Prep school teacher, 26, charged with having sex with student, 16, after telling co-worker about sick affair
    By Anthony Blair
    Published June 30, 2025, 6:28 p.m. ET

    A teacher at a high-performing Michigan charter school that emphasizes lessons on moral virtues has been charged with having a sexual relationship with a student — after telling a colleague about the illicit affair, authorities said.

    Jocelyn Sanroman, 26, of Pontiac, is facing a charge of third-degree sexual conduct with a 16-year-old boy, Click On Detroit reported.

    The alleged sexual relationship took place in 2023 while Sanroman was a teacher at Oakside Prep Academy, a charter school in Waterford Township, roughly 30 miles northwest of downtown Detroit.

  31. Dark Phoenix says:
    July 2, 2025 at 11:40 am

    Take a lesson from the rich guys:

    1. Freeze the juice. Not that expensive.
    2. Get clipped.
    3. Get tested to make sure your clip worked.
    4. Enjoy what is out there. No worries.

    The thing that will harm you in a courtroom the most is that child.

    If you want one, work hard, get a good job, hire a surrogate, and have one on your own.

    Enjoy the stability of your life, it’s priceless.

  32. Libturd says:
    July 2, 2025 at 11:48 am

    Eddie already reached out to me. We go way back and I consider Gary a good friend regardless of our political division.

    Chi, great advice and Gator and I really appreciate it. You’re gonna laugh. We just booked another cruise for end of August. It’s $1200 complete (even paid tips) out of pocket and sails from NY, which means no extra costs. I share this so you can see my state of mind. I see some really interesting job offers out there too, but first I need to update my resume, LinkedIn, etc. Not super worried, yet. I told my son we are really fine at least until the severance runs out. Then if I am not working, he has permission to kick my ass until I am. He knows all my finances so he is not panicking. Again, goal is to get through this net positive. If we have to spend a little of our rainy day fund, so be it.

    HMB, you were right. Family coverage was $3,100. My mistake.

    I’m glad to have all of you imbeciles along for the ride.

  33. Libturd says:
    July 2, 2025 at 12:03 pm

    The other thing I am doing is riding my Peloton like a mofo.

  34. D-FENS says:
    July 2, 2025 at 12:52 pm

    Getting laid off was probably the best thing that ever happened to me. Never realized how stuck I was. It was at the peak of the pandemic too. I can only imagine your stress. I took it very personally at first. Chi’s advice is great. Mourn and move on. A clear head is key. Took a lot of mental strength to project a positive vibe in interviews. Luckily I was quickly picked up by an outsourcing firm in the interim working on the client that was my former employer! Really weird situation but it bought me time while I searched for another job. I love the new job so much more. I actually had 3 firms competing for me at one point. Hopefully you’re experience is same or better. Wishing you the best of luck in the search.

  35. D-FENS says:
    July 2, 2025 at 12:53 pm

    Weight Training and exercise helped my mental state a lot too. Peloton is a great idea.

  36. Fabius Maximus says:
    July 2, 2025 at 1:08 pm

    ” riding my Peloton like a mofo.”

    Are you going for the insurance payout? I’ll add a few things to Chi’s list. Insurance is the first. Work out if you want to continue the companies policy. Its a jump in premium, but if you lapse you are then into medical assessments where they will try and bounce you from any new policy.

    You got that a move to a new heath plan resets the deductible, but you also have to be careful that your existing providers are in-network for the new plan.

    Getting dumped in June is a complete pain. It screws you over multiple tax years. Most of the payouts will happen this year, but it will go into next year as well. I still had my old firm on my taxes this year. They vested the Stock plan as part of severance, but kept the same vesting schedule so it paid out over the three years.

    When you go for government programs FASFA etc, they always look back. So you have no income coming in, but you are evaluated on what you made two years ago.

    File for unemployment now. They will reject the claim based on the severance, but it gets you in the system and you can register for the Job Seeking help schemes and I got hooked into the Governments version of LinkedIn Learning so I was taking time to study. When severance runs out you can refile next year for unemployment if you need it.

    401K is where it gets interesting. While its great to get that out of the company plan there are a few wrinkles. If you haven’t maxed out for the year, if you cant get into the system to turn it off, your severance and any residual payments such as vacation payout will keep feeding into it. My company would reflect the years match in the balance, but if you aren’t on the payroll on Dec 31st, they pull it back. So if you roll out, they may not roll the full amount or they may claw the match back later.

    If they offer career outplacement assistance, use it. They can clean up your LinkedIn profile and rework your resume. Keep a spreadsheet of all Job applications. Learn how to use AI to tailor applications and your resume to the role. Get ready for recruiter hell, fake postings and lots of ghosting.

    Take some time, decompress, toast what you achieved and move on. For me I got a nice glimpse of what retirement will look like and while I was ready to go back, I know what I have to look forward to.

  37. RentL0rd says:
    July 2, 2025 at 1:38 pm

    Since we are talking insurance..

    I got a 20 year Term life insurance policy when I turned 40. Back then it was for a reasonable amount and a good rate thanks to the A+ health rating they gave. I’m approaching mid 50s, and wondering if I should extend it further? No health complications, and honestly don’t think the fam would need that for survival any more. But if something does happen in the next few years fam gets to benefit.

    Anyone else in a similar boat? I can get an extended 30 year term without a medical check – but would it be worth it? Anyone looked at annuities? I always thought of it as a scam… but what do I know.

  38. Dark Phoenix says:
    July 2, 2025 at 1:41 pm

    D-FENS says:
    July 2, 2025 at 12:52 pm
    Getting laid off was probably the best thing that ever happened to me.

    If it’s not being nosy, at what age did this happen to you? And in your opinion, do you feel that makes a difference?

    Not being personal, just looking for an opinion based on age.

  39. Dark Phoenix says:
    July 2, 2025 at 1:51 pm

    FM
    Great post.

    Welcome to the system.

    Woulnd’t it be nice to live in a country that respects it’s citizens enough that it gives them Universal Healthcare?

    Then Lib wouldn’t have to think about that.

    Good countries do that for their individuals. Our country spends money on weapons and regime change.

    Lib is just one of millions that are about to go through what he is going through. And better positioned to weather the storm. How about your neighbor, your cousins, your kids? Have they prepared for that tornado heading their way?

    Good luck getting help. America has safety nets built with swiss cheese.

  40. RentL0rd says:
    July 2, 2025 at 2:23 pm

    Not everyone at Microsoft is a millionaire. I know a few ex-MS looking for a job right now.

    https://www.cnn.com/2025/07/02/tech/microsoft-layoffs-9000-employees

    I don’t understand how they could have overestimated resources by so much that they need to fire.

  41. Libturd says:
    July 2, 2025 at 2:36 pm

    Fab,

    Thanks for the advice. I am fortunate that the company isn’t pulling any shenanigans besides paying the severance out over time. Again, my head is in a very good place. Planning the greatest Captain Cheapo Summer ever. Will be a taste of retirement. My only concern is returning to work in the right state of mind. Though, I honesty doubt I’ll have an issue since I thrive on hard work. Wish it was something more physical or entrepreneurial, but I have always risen a number of rungs from wherever I have landed. I’m also great with the young ones since quite frankly, I tend to act like a lot of them since I feel like I never grew up.

    Right now, the hardest thing for me to get used to is all of this extra time. I woke up early today to get shit done. Already booked the free cruise, got the car washed, rode the bike, showered twice, put away the laundry, organized the house for the cleaning lady, made a healthy breakfast and lunch, etc. I am moving on to cleaning out the smoker and prepping for the big jam on the 4th. Tonight, D’s got swim lessons, but not before I make homemade meatballs and pasta. It’s all good.

  42. 3b says:
    July 2, 2025 at 3:31 pm

    Fast: Lots of the young people, simply don’t have the kinds of funds to pay the cost of the house, plus the property tax. Going forward its debatable who is screwed.

  43. ExLAX says:
    July 2, 2025 at 3:35 pm

    House is in escrow following inspection and the buyer has a laundry list of items they’d like fixed. I’d like to tell them to pound sand, but my wife countered. I’d be perfectly happy to rent the place out.

  44. 3b says:
    July 2, 2025 at 3:43 pm

    Lib: If you were laid off and not packaged off, you will still be able to claim unemployment since you leaving your job was not voluntary as opposed to taking the package, I know multiple people over the years who got laid off and severance, and collected their unemployment.

  45. Chicago says:
    July 2, 2025 at 3:43 pm

    Nothing like a snot nosed buyer. Just wait them out.

  46. RentL0rd says:
    July 2, 2025 at 4:02 pm

    Cruelty for cruelty sake

    https://apnews.com/article/ice-immigration-raids-detainee-families-los-angeles-651d8bba4752553a67eb53db084677b2

    The video in the above article is heart breaking – and it shows that the toll is not just on undocumented immigrants but also the friends and family who are in this country legally.

  47. RentL0rd says:
    July 2, 2025 at 4:11 pm

    Most states don’t allow the buyer and seller to meet face to face. I never met the buyers when I sold in two other states. In NJ, when I was buying I made sure to meet the seller. Their agent lied and did a lot of crap that made us almost not put an offer ( different times!) But since we met and had a tour with the owner and he showed us a few thinfs that the agents could never do, we both compromised and a deal was made – relatively quickly.

    We and the selling couple had sushi after closing to celebrate!

    One of the main put offs is working with an agent.

    Lax, see if you can meet them f2f and compromise.

  48. D-FENS says:
    July 2, 2025 at 5:29 pm

    46

    Dark Phoenix says:
    July 2, 2025 at 1:41 pm
    D-FENS says:
    July 2, 2025 at 12:52 pm
    Getting laid off was probably the best thing that ever happened to me.

    If it’s not being nosy, at what age did this happen to you? And in your opinion, do you feel that makes a difference?

    Not being personal, just looking for an opinion based on age

  49. njtownhomer says:
    July 2, 2025 at 5:29 pm

    Lib, best of luck, this will open a better door soon. Enjoy the small break !

    Last house I bought, seller wanted to see me so I flew in and met them. That helped us to win the deal, even though they had a higher offer. I “probably” impressed by flying in from a reasonable distance.

    It works, I also prefer to see my tenants in person before approving them.

  50. VSG says:
    July 2, 2025 at 6:46 pm

    P Di Di found guilty.

    You know why the tapes Musk requested aren’t released. You know exactly why

  51. Dark Phoenix says:
    July 2, 2025 at 7:09 pm

    Hopefully Musk’s minions were able to put some sort of hacking software into the government computers and snag the Epstein files.

    One can only dream

  52. Dark Phoenix says:
    July 2, 2025 at 8:45 pm

    from the gender that has the nerve to call us creepy:

    Charlize Theron just dropped a juicy bombshell.

    The actress, 49, got candid on her most recent experience with one-night stands.

    “I’ve probably had three one-night stands in my entire life,” Theron revealed during the Wednesday episode of the “Call Her Daddy” podcast. “But I did just recently f–k a 26-year-old and it was really f–king amazing. And I’ve never done that. I was like, ‘Oh, this is great. OK.’”

  53. Dark Phoenix says:
    July 2, 2025 at 8:47 pm

    in other news, Del Monte files for bankruptcy. Been in business for 140 years.

  54. Dark Phoenix says:
    July 2, 2025 at 8:54 pm

    to the workers who voted for Trump, hope you enjoy your walking papers:

    What’s happening between the U.S. and China? During Donald Trump’s presidency, the trade tensions between China and the United States forced China to implement 125% revenge tariffs, which increased the price of important minerals for the automotive industry.

    Farley explained this was the main reason why Ford was closing some plants, if there’s no minerals, what are they going to manufacture? He is also concerned about the 10% tariffs Trump proposed could seriously affect the company

  55. Dark Phoenix says:
    July 2, 2025 at 8:57 pm

    On Wednesday, hours after the bill passed the US Senate, the hashtag #MuskWantsToBuildAnAmericaParty went viral on Weibo, a Chinese social media platform similar to Musk’s X, receiving more than 37m views.

    “If Elon Musk were to found a political party, his tech-driven mindset could inject fresh energy into politics. The potential for change is significant – and worth watching,” wrote one Weibo user.

    “When you’ve had enough, there’s no need to keep putting up with it,” wrote another.

    One comment summed up the mood on the platform: “Brother Musk, you’ve got over a billion people on our side backing you.”

  56. Fabius Maximus says:
    July 2, 2025 at 9:36 pm

    Funny, people in here are usually all over the jobs report.

    Are we great yet Gary!
    https://www.cnn.com/2025/07/02/economy/us-jobs-market-june-preview
    US private sector lost 33,000 jobs in June, missing expectations for an increase of 115,000

  57. RentL0rd says:
    July 2, 2025 at 9:52 pm

    I am surprised that the media (especially Fox News that quickly changed topic) is surprised.

    The ripple effect of tariffs which have not even kicked in completely will be devastating. Buckle up!

  58. RentL0rd says:
    July 2, 2025 at 9:55 pm

    If you look at the numbers, small businesses are getting hit the hardest.

    https://adpemploymentreport.com/

  59. 3b says:
    July 2, 2025 at 10:36 pm

    The BLS job report is the one that masters, not ADP, which is notoriously wrong . Back in my fixed income trading days, we never paid any attention to it. The BLS number will be released on Friday even though it’s a holiday. If it’s weak/ bad, then the economy is starting to turn negative.

  60. Boomer Remover says:
    July 3, 2025 at 10:08 am

    Why did Lib think he wasn’t getting unemployment? Termination was involuntary.
    NJ unemp bennies are generous, sure it’s around 30% of corporate but it’ll pay the bills for a bit.

  61. 3b says:
    July 3, 2025 at 12:09 pm

    Chicago: Yeah, the BLS report would never be released a week later after its normal release date, and I don’t recall them ever releasing the day before the normal date. That is why I said they would release tomorrow even though a holiday.

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