Category Archives: Politics

State Assembly Passes Commission Rebate Legislation

Posted on March 17, 2009 by grim

From Inman News: New Jersey bill seeks to lift rebate ban New Jersey’s General Assembly on Monday voted 46-25 to pass a measure that allows real estate brokers in the state to give rebates to homebuyers — counterpart legislation has … Continue reading →

Posted in New Jersey Real Estate, Politics | 184 Comments

Corzine: Wealthy towns to lose state aid

Posted on March 13, 2009 by grim

From the Record: Towns to lose more than $32M in state aid, Corzine says The Corzine administration was the bearer of bad news again today when it told towns they will lose more than $32 million in state aid next … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 177 Comments

DOWTAX 7000!

Posted on March 12, 2009 by grim

From the Record: Property taxes by the numbers Residential property taxes in New Jersey rose by just 3.7 percent last year but topped $7,000 for the first time, a new state report says. The increase in property taxes is the … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 106 Comments

Taxzine contemplates eliminating property tax deductions

Posted on March 11, 2009 by grim

From the Record: Budget could deal middle-class homeowners a painful double whammy The budget Governor Corzine unveiled Tuesday calls for eliminating property tax deductions on state income taxes next year, raising about $420 million to help balance a painful spending … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 302 Comments

Will he cut or will he borrow?

Posted on March 9, 2009 by grim

From the Record: Where will governor find $4B in cuts? Governor Corzine is preparing a new state budget that will reduce spending to below $30 billion for the first time since 2006. The budget, which Corzine will present Tuesday to … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 286 Comments

Want lower property taxes? Leave.

Posted on March 4, 2009 by grim

An opinion piece from the Hammonton News: 2006 property tax relief was only a mirage The state is between a rock and a hard place. On one hand, tax revenues are way down, and the state faces a $6 billion … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 225 Comments

NJ’s 3.6 Billion Dollar Hole

Posted on February 19, 2009 by grim

From Bloomberg: New Jersey’s Budget Shortfall Widens to $3.6 Billion New Jersey’s budget shortfall for the current fiscal year widened to $3.6 billion from a projection of $2.1 billion a month ago, prompting Governor Jon Corzine to call for unpaid … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 384 Comments

Painful cuts for NJ budget

Posted on February 18, 2009 by grim

From the Record: State weighs drastic cuts Governor Corzine wants state workers to take unpaid furloughs as part of a new plan to offset a recession-fueled budget deficit now projected to grow to nearly $3 billion. The governor on Tuesday … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 436 Comments

The End of Farmland Assessment?

Posted on February 9, 2009 by grim

From the Asbury Park Press: Plug farm tax loopholes A pair of bills being drafted by state Sen. Jennifer Beck, R-Monmouth, that would revise farmland assessment laws would help keep New Jersey’s agriculture industry productive while preventing wealthy landowners from … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics, Property Taxes | 302 Comments

But will it work?

Posted on January 29, 2009 by grim

From the Wall Street Journal: House Passes Stimulus Package The House passed an $819 billion tax-and-spending bill Wednesday, in a recession-fighting effort that would extend the reach of the federal government across the U.S. economy by reshaping policy on energy, … Continue reading →

Posted in Economics, National Real Estate, Politics | 509 Comments

Sugar-coated State

Posted on January 14, 2009 by grim

From the Philly Inquirer: Editorial: N.J. Budget – ‘Ugly choices’ Gov. Corzine, who is running for reelection this year, tried to season his “state of the state” address with optimism yesterday. But voters dealing with their own financial problems don’t … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 123 Comments

Tough decisions… Painful cuts…

Posted on January 7, 2009 by grim

From the Daily Journal: New Jersey cuts will hurt homeowners Gov. Jon S. Corzine wants to cut school aid by $75 million and aid to cities by $15 million to help close a $2.1 billion budget gap. There’s no question … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 206 Comments

“It’s about as bad as we’ve seen in several decades”

Posted on December 29, 2008 by grim

From the Daily Record: Economic woes loom large as N.J. closes ’08 It’s a bad sign when mild-mannered nonpartisan legislative analysts start measuring the depth of the state’s budget problems by how many decades back you have to look to … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 309 Comments

Time to start the real cuts, Jon.

Posted on December 17, 2008 by grim

From the Record: Corzine looking for another $1.2B to cut from budget Governor Corzine will announce new spending cuts early next month, his response to a recession-fueled budget deficit that is now $459 million and likely heading to well over … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 123 Comments

Tax Collections Down Statewide

Posted on November 11, 2008 by grim

From the Press of Atlantic City: State down $73.1 million amid low home sales, gaming, retail The housing-market downturn isn’t just affecting property owners looking to unload their homes; the state, too, is feeling the pinch, collecting $17.6 million less … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 327 Comments