Category Archives: Property Taxes

A new tax for property owners

Posted on March 19, 2019 by grim

From the Star Ledger: The controversial ’rain tax’ bill designed for N.J. flood defense has been signed into law  Local authorities in New Jersey now have a new tool to manage stormwaters and flooding. Gov. Phil Murphy on Monday signed into law … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes, Unrest | 78 Comments

Minimum wages up – Property taxes up

Posted on March 5, 2019 by grim

Oh, you’ll find a way. From NJTV: How will NJ’s new $15 minimum wage affect local governments? Middletown has a population of 66,000. The Monmouth County city has horse farms, the beach and Big Mike’s Little Red Store. Middletown Mayor … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Politics, Property Taxes | 70 Comments

In the old days, we’d have had a rebellion

Posted on February 23, 2019 by grim

No worries people, Murphy is on the job. He’s mad and he’s making phone calls. From the Star Ledger: ‘This is a big deal’: Murphy joins growing effort to restore your property tax deduction They’ve gone to court. They’ve spoken … Continue reading →

Posted in Economics, Politics, Property Taxes | 12 Comments

Thank Trump for fixing NJ’s property tax issue

Posted on February 19, 2019 by grim

From CNBC: One surprising way to beat the SALT deduction cap: Move to a nearby town A few years ago Dawn Donaghy and her husband, Raymond, made a decision that many residents in high-tax states make. They wanted to move. … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 112 Comments

Uh oh.

Posted on February 15, 2019 by grim

From the Star Ledger: N.J. revenues continue to slump, and Trump tax reforms are blamed New Jersey’s state budget is really feeling the effects of the federal tax reform hangover now. Last month, Gov. Phil Murphy’s administration warned tax revenues were … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Politics, Property Taxes | 105 Comments

Thank goodness Cuomo’s our governor … wait

Posted on February 12, 2019 by grim

From Newsday: Cuomo to meet with Trump to seek end of cap on SALT deductibility Gov. Andrew M. Cuomo said he is scheduled to meet with President Donald Trump on Tuesday to press his effort to overhaul Trump’s tax plan, which … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 109 Comments

Tax those who attempt to leave

Posted on February 7, 2019 by grim

From Fox News: Mansion sales rise in Florida as wealthy buyers are drawn to its low taxes and sunshine Is bigger really better? It’s true to Florida buyers. Many wealthy buyers are moving to the Sunshine State for higher ceilings … Continue reading →

Posted in Demographics, Economics, Property Taxes | 140 Comments

Shore only for the rich

Posted on January 21, 2019 by grim

From the Star Ledger: New rental tax worries some shore renters, homeowners A new tax in New Jersey on short-term lodging such as Airbnb rentals is rattling some property owners and renters who worry that it could deal a blow … Continue reading →

Posted in Politics, Property Taxes, Shore Real Estate, Unrest | 29 Comments

SALT cap hits the Northeast … hard

Posted on October 26, 2018 by grim

From Bloomberg: Housing Is Tanking in the Northeast. Guess Why. Sales of new single-family houses were down 13.2 percent in September from a year earlier, the Census Bureau reported Wednesday. That’s a lot — the biggest year-over-year percentage decline since … Continue reading →

Posted in Economics, National Real Estate, New Jersey Real Estate, Politics, Property Taxes | 70 Comments

The tax on shore rentals nobody knew about

Posted on September 18, 2018 by grim

From the Star Ledger: Summer-rental bill turns homeowners into tax collectors Former state Sen. Ray Lesniak recalls that when he was a kid his family would head down to Wildwood every summer looking for a vacation rental. “We’d just knock … Continue reading →

Posted in Politics, Property Taxes, Shore Real Estate | 67 Comments

Are PILOTs good or bad?

Posted on August 13, 2018 by grim

From ROI-NJ: Is fixing PILOT regulations a way to fix school funding? Marc Pfeiffer, assistant director at Rutgers University’s Bloustein Local Government Research Center, said the last time payments in lieu of taxes were addressed in the state was 1992. … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics, Property Taxes | 37 Comments

Nothing will be done

Posted on August 10, 2018 by grim

From the Star Ledger: Huge change for N.J.: Public worker benefit cuts, merging schools, more toll roads pushed by top lawmaker Frustrated by endless growth in property taxes and public worker benefit costs, New Jersey’s most powerful lawmaker earlier this … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 91 Comments

Other peoples money

Posted on August 5, 2018 by grim

From the APP: Tax relief better be on the horizon if Phil Murphy wants to get re-elected For more than a decade, the Asbury Park Press has been a tireless advocate for property tax relief. We have written dozens of … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes, Unrest | 26 Comments

Blue states throw Republican strategy right back in their face

Posted on July 18, 2018 by grim

From Above the Law: States Are Suing For Their SALT Deductions Back Under The 16th Amendment The Republican tax bill famously capped the deductions for state and local taxes (SALT) at $10,000 for the purposes of federally taxed income. The … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 88 Comments

No exodus?

Posted on July 13, 2018 by grim

From The Real Deal: No exodus from California despite pressure from new fed tax plan: real estate pros While homeowners in high-tax states like New York and New Jersey may be packing their bags to move to Florida and Texas, … Continue reading →

Posted in Demographics, Economics, National Real Estate, Politics, Property Taxes | 86 Comments