Battling to Keep Property Taxes Equal

NJBIZ ^ | 08.28.06 | Scott Goldstein

[Coleus]

http://www.taxfoundation.org/

[oceanview]

they don't even mention where the underlying problem comes from - wages and pensions for public school teachers and government workers - their numbers are increasing, and so is their compensation, outstripping the ability of people who earn wages in the private sector, to pay for it.

[TexasTransplant]

Texas Gov Perry exporting bad Govt to other States?

[P-40]

Texas Gov Perry exporting bad Govt to other States?

Sounds like it. I hope he at least charged them something for it. Maybe they should try a 'hospital district' also, like we did in Travis County...that we learn today wants more dollars from property taxes to cover the uninsured...

[Coleus]

Texas Gov Perry exporting bad Govt to other States? >>>

I guess so.

I'm wondering what states do have good tax policy. I think Colorado revamped their tax code.

[Publius6961]

According to the NJBIA, New Jersey business pays $6 billion in property taxes, or nearly a third of the state’s property tax revenues.
The average homeowner bill is $5,826 per property, or twice the national average, according to Gov. Jon Corzine’s administration.

Sounds like New Jersey has a spending problem, not a revenue problem.

Pretty much the same as every other state.

Prop 13 in California solved that problem. Of course, the spenders find creative ways around limitations by inventing "user fees" (for traditionally tax-paid services). This, of course is fraud, but short of public lynchings, there seem to be no countermeasures.

[TexasTransplant]

>>>>>"I'm wondering what states do have good tax policy. I think Colorado revamped their tax code"<<<<<

Florida or Alaska folks might want to weigh in on this one.

(Wouldn't be excellent to get the Puerto Rican Tax deal?)

[taxed2death]

....not to mention 20 million or so illegals meandering around necessitating new schools, public housing and hospitals....

[EQAndyBuzz]

"“From our perspective, that is not reform,” says Jim Leonard, vice president of government relations for the New Jersey Chamber of Commerce. “It’s shifting the burden of payments and that is unconscionable.” "

No, Jim. That is Socialism and until you decide to stop backing Democrat candidates with ties to unions, this is what you are going to get.

If Carly Schwartz didn't teach you anything, no one will.

[goldstategop]

The morons in New Jersey don't want to cut property taxes. They want to shufffle the burden around.

(No more Olmert! No more Kadima! No more Oslo! )

[Howard Jarvis Admirer]

The classic line is "Dont tax you, Dont tax me - tax that man behind the tree!" It is pin the tax tail on the donkey time in New Jersey - who will be the loser this year? Luckily California has Prop 13 to prevent this NJ property tax hell from happening here.

[Man50D]

Business lobbyists are set to square off against state lawmakers who are considering reducing residential property taxes and recoping some of the revenue by raising property tax rates for business.

What most people don't realize is companies pass the cost of their taxes onto the consumer. A product is taxed at each stage of production. These embedded value added taxes(VATS)result in higher prices for every product and service purchased. This is a weak short term solution at best.

Fortunately there is a long term solution already before Congress. It is called The Fair Tax Act. The House version is H.R.25 and the Senate version is S.25. Click on the following links for more information how The Fair Tax can help with property taxes by replacing all federal income taxes with a consumption tax:

Americans For Fair Taxation
Fair Tax Frequently Asked Questions

[TexasTransplant]

BUMP!

[ovrtaxt]

Florida or Alaska folks might want to weigh in on this one.

As a matter of fact, FL isn't so hot right now. Property taxes have gone up significantly this past year, (I don't have the exact %) and Homeowner's insurance is skyrocketing. Jeb! was threatening to call a special session of the Legislature over it.

[tcostell]

Hey! Don't go throwing around facts just because they're true! Who do you think you are?!

Now shut up and get back to your oar.

[ovrtaxt]

Before some squirrel grills you for failing to mention that this is a state issue and HR25 is a federal bill, let me just state the potential 'trickle down' effect of consumption taxation on the states. As people get used to the inherent benefits and preferable lifestyle of only paying tax when they purchase items, they will most likely start demanding the same from state and local governments.

It works quite well in FL- as we can see by comparing the fiasco with property taxes alongside our lean, mean sales tax system.

[Man50D]

As people get used to the inherent benefits and preferable lifestyle of only paying tax when they purchase items, they will most likely start demanding the same from state and local governments.

Absolutely! Especially if a state chooses to conform to the federal tax base, they will raise the same amount of state sales tax with a lower tax rate since the Fair Tax base is broader than their current tax base. States may also consider the reduction or elimination of property taxes by keeping their sales tax rate at or near where it is currently.

[groanup]

fair tax bump. I think oceanview's post says it all, the gov't pensioners and wage earners are using up more resources than the productive people can create.

[pray4liberty]

Battling to Keep Property Taxes Equal

Equal to what? A year's salary?

[Taxman]

I believe that passage of the FairTax will, in the long run, force part of the government genie back into bottle. IOW, We the People will force major changes in the way government taxes us.

I foresee all local, city, county, state taxes being abolished in favor of a sales tax, with, when the dust settles a few years after the first state does abolish all its taxes in favor of a sales tax, a rate of around 25%.

The rate would have to be higher at first, but eventually would settle in at around 25% as the economy picked up steam.

That 25% number, BTW, was the number that the Reader's Digest folks came up with in a survey they commissioned a few years ago. When Americans FRom all walks of life were asked what they thought the rate for all taxation should be, by a wide margin, 25% was the preferred rate.

All we have to do is get enough Real Americans on our side and we can do this.