Posted on 07/03/2010 4:06:42 PM PDT by freelancer
TRENTON, N.J. (AP) ― New Jersey Gov. Chris Christie and the Senate's Democratic leader struck a deal to cap annual local government spending and property tax growth at 2 percent, ending a two-day standoff that threatened to keep the Legislature working through the July Fourth holiday weekend.
more here
http://cbs3.com/wireapnewsnj/Governor.Senate.reach.2.1786474.html
(Excerpt) Read more at cbs3.com ...
Now that the budget has passed, the property tax cap is the next big target. I am sure Christie will get what he wants, or darn close to what he wants.
In California the property tax goes up by 2% every year.
“The deal allows towns and school districts to exempt costs they cannot control, like health care and pension costs.”
Property taxes are a tricky matter, as there are 2 factors, the assessment and the millage rate.
You can limit the millage, but its all for naught if the taxing authority just orders a reassessment of the properties.
Gov. Christie is a pretty sharp character from what I’ve seen, but this will be a tough cap to really get in place and be effective.
Can’t they just freeze assessment on existing structures for, say, a year or until they are sold?
he was looking for 2.5, so not a bad day, but it’s still high.
Even though I didn’t vote for him in the primary I support what he is trying to do...but a 2% cap on property taxes is a 3 card monte slight of hand...if assessments rise you can still get higher taxes...but even if it stays at 2% THAT IS STILL TOO DAMN HIGH...my tax bill last year was over $9000 for a 3 BR rancher !!
Neither did I, but I have to say that Longegan's commercials sniping at Christie's efforts are disgusting.
agree!
My town has delayed reassessment because property valus have been dropping.
Good news for NJ ping.
While this has some promise, it is not as good as it seems. NJ property taxes are a compilation of local municipal taxes, county taxes, school and library taxes all rolled into one. This agreement limits municipal property taxes only, to a 2% increase cap.
In real terms, using my town as an example: a house having property taxes of $5000 per year only has a municipal tax burden within that $5000 of approx $450. So, it is only that municipal tax of $450 that is subject to the 2% cap. The rest of the tax levee is from library taxes, school taxes and county govt taxes. While this is a promising start, making a dent in the school taxes, with massive cuts in the school budgets, teacher benefits, working hours etc., would do far more to relieve the tax burden on residents of this state.
ML/NJ
Tyrannical government, exactly what the 2nd ammendment was written for.
Tyrannical government, exactly what the 2nd ammendment was written for.
“he was looking for 2.5, so not a bad day, but it’s still high.”
He’s doing better than Gov. Goodhair. TX still has 10% annual cap. But we’re gonna go after the tax hogs.
The ads were disgusting propaganda, accusing Christie of wanting to hurt children, police, and firefighters.
In NJ we have teachers who contribute basically nothing to their own damn heath care. Their salaries have risen to out of control increases, and the pension burden on NJ taxpayers is astronomical. If you talk to teachers or public employees, they speak of some mythical "the government didn't contribute money to pensions it should have' garbage - while they ignore the real numbers about how they have bled the NJ taxpayers dry.
Property taxes in NJ have risen by over 100% since the 1980's, and by 70% in just the last ten years.
I think the only solution is dissolve all state pensions, and start from scratch.
17% ??!!! That hurts. It seems a lot of towns were afraid the cap was going to happen and grabbed their last chance to hike your taxes.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.