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Assemblywomen sets the governor straight on property taxes, SALT deductions and irresponsible spending

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the staff of the Ridgewood blog

River Vale NJ, Assemblywomen Holly Schepisi sets the governor straight on property taxes, SALT deductions and irresponsible spending in the state of New Jersey .

Schepisi said on Facebook ,” I have a novel idea, why don’t we retain some of the top tax advisors, tax attorneys and CPAs in the country to rewrite NJ’s tax code to lessen our property tax burden while figuring out a better way to fund our schools and take advantage of the new federal tax code? We spend millions fighting Trump’s policies, why don’t we invest those monies into making our own tax situation a little more tolerable. Cut spending where we can, revise our property taxes and actually help our middle class.”

Continue reading Assemblywomen sets the governor straight on property taxes, SALT deductions and irresponsible spending
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Reader says Ridgewood is in the process of taxing itself to death

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Ridgewood is in the process of taxing itself to death. Look at houses at the high end of the market that are already not selling. This will creep down to the middle market as we continue to make avoidable expenditures like this that increase our taxes. Remember that we already have unsustainable union contracts and expenditures legislated by Trenton to swallow every year. We need to be looking for ways to reduce spending – not increase it for the benefit of the few.

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N.J. seeking to recoup $1.6M in overpaid tax rebates

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April 9, 2015, 12:13 PM    Last updated: Thursday, April 9, 2015, 2:07 PM
By MELISSA HAYES
state house bureau |
The Record

The state Division of Taxation is taking steps to recoup $1.6 million in rebates it overpaid nearly 3,800 taxpayers, following an investigation by the Office of the State Comptroller.

The comptroller’s office released the findings of its investigation into property tax relief programs for multi-unit properties Thursday along with steps it said the division is taking to remedy the problem.

The report estimates that thousands of homeowners have received larger property tax credits than they were entitled to because they claimed 100 percent residency of a multi-unit dwelling when applying for the Homestead Property Tax Credit and Property Tax Reimbursement programs  and the state property tax deduction. The programs are provided to taxpayers who meet certain income limits, senior citizens and the disabled. Only a portion of the credits and rebates are supposed to be applied when an applicant lives in a multi-unit dwelling.

The report recommends that the Division of Taxation require local tax assessors to report the number of residential units in each property in the municipality to close what Acting State Comptroller Marc Larkins calls a “gap in the oversight of property tax relief programs.” Each municipality has the information on record, but the state doesn’t require that it be shared.

http://www.northjersey.com/news/n-j-seeking-to-recoup-1-6m-in-overpaid-tax-rebates-1.1305971