After a press conference on lead remediation and testing in New Jersey public schools, Governor Chris Christie answered some questions from press about the topic that is front and center of the current political discussion in NJ: the impending default of Atlantic City and Assembly Speaker Vincent Prieto’s alternative takeover bill that will be posted for a vote on Thursday. Alyana Alfaro, PolitickerNJ Read more
The last time a New Jersey municipality defaulted on its debt, Franklin D. Roosevelt was president, the U.S. was in the middle of the Great Depression, and World War II was still about a year away. Brent Johnson, NJ.com Read more
Gov. Chris Christie on Wednesday assailed Democrats and warned the state’s business community that “the animals are at the gate” and are prepared to pounce on their wallets. Matt Arco, NJ.com Read more
As the debate continues over how to save Atlantic City from its financial crisis, a city councilman is proposing that the mayor, fellow council members and other local officials help out by taking a 20 percent pay cut. Brent Johnson, NJ.com Read more
The conservative political advocacy group created by oil billionaires David and Charles Koch has unveiled a no-frills model “Taxpayers’ Budget’’ for New Jersey, claiming there is a way to provide core services of government while freeing up money for tax relief. Bob Jordan, Asbury Park Press Read more
In Trenton, Senate Democrats now propose to continue bankrupting the state by cutting taxes when we can’t remotely afford it, while offering no means to cover the cost. Tom Moran, Star-Ledger Editorial Board Read more
Former Chesterfield official Lawrence Dur.
TRENTON — A former Burlington County mayor accused of hiding his ties to a developer doing business in his town will avoid jail time under a plea deal with the state, authorities said.
Lawrence Durr, the former mayor of Chesterfield Township, pleaded guilty Tuesday to a single charge of third-degree conspiracy to tamper with public records during an appearance in front of Superior Court Judge Jeanne T. Covert in Burlington County, according to the state Attorney General’s Office.
Durr, who has also served as a committeeman and planning board member for his town, was accused of selling development rights on a 100-acre farm to Renaissance Properties, Inc. at a substantial profit and then using his official positions to advance the company’s interests in Chesterfield.
Authorities said he made at least $372,500 from the development rights deal.
Gov. Chris Christie says New Jersey’s unemployment insurance trust fund has achieved a balance of $1 billion. Associated Press, Read more
On the heels of a snazzy jazz soundtrack conference call intro, Lieutenant Governor Kim Guadagno this afternoon whisked away the tarp over Building a Better NJ Together, a new registered 501(c)4 political organization based in Ocean. Max Pizarro, PolitickerNJ Read more
Trenton
New Jersey Places Number 7 in States with the Highest Tax Burdens
April 11,2016
the staff of the Ridgewood bog
Ridgewood Nj, With a week remaining until Tax Day and many Americans finding the current tax code too confusing to determine exactly how much their home states are actually taking from their income in taxes, the personal finance website WalletHub conducted an in-depth analysis of 2016’s States with the Highest & Lowest Tax Burdens.
In order to determine which states tax their residents most aggressively, WalletHub’s analysts compared the tax burdens of the 50 states by measuring property taxes, individual income taxes, and state and gross receipts taxes — the three components of state tax burden — as percentages of the total personal income in each state.
| States with the Highest Tax Burdens (%) | States with the Lowest Tax Burdens (%) | ||||
| 1 | New York (13.12%) | 41 | Texas (7.67%) | ||
| 2 | Hawaii (11.86%) | 42 | Wyoming (7.62%) | ||
| T-3 | Maine (11.13%) | 43 | Alabama (7.41%) | ||
| T-3 | Vermont (11.13%) | 44 | Florida (7.22%) | ||
| 5 | Connecticut (10.91%) | 45 | Oklahoma (6.95%) | ||
| 6 | Minnesota (10.46%) | 46 | South Dakota (6.94%) | ||
| 7 | New Jersey (10.38%) | 47 | New Hampshire (6.88%) | ||
| 8 | Rhode Island (10.36%) | 48 | Tennessee (6.56%) | ||
| 9 | Wisconsin (10.32%) | 49 | Delaware (5.91%) | ||
| 10 | Illinois (10.19%) | 50 | Alaska (5.18%) | ||
Comparing the States
For the full report and to see where your state ranks, please visit:
https://wallethub.com/edu/
The deadlock between Gov. Chris Christie and elected officials over a deal to rescue Atlantic City from a mounting financial crisis has the potential to send shockwaves through some of the state’s largest cities, a credit agency said Wednesday. Matt Arco, NJ.com Read more
The state on Monday will order three New Jersey municipalities that have not revalued property in at least a quarter century to conduct revaluations that will affect property taxes for thousands of residents, NJ Advance Media has learned. Samantha Marcus, NJ.com Read more
New Jersey tax collections will come in about $162.1 million short of Gov. Chris Christie’s expectations for the current and upcoming fiscal year, the nonpartisan Office of Legislative Services told lawmakers Tuesday. Samantha Marcus, NJ.comRead more
Elise Young EliseOnDeadline
The seven-mile (11.3-kilometer) line between Port Morris and Andover in northwest New Jersey will add but a ridership blip to the nation’s second-busiest commuter railroad. By 2030, just 130 daily passengers are expected to board. One multilevel rail car could haul the whole crowd, with a dozen seats to spare.
Meanwhile, closer to Manhattan, commuters in the nation’s most densely populated suburbs endure crowding and train breakdowns at a rate four times higher than the U.S. average. The transit agency says the Sussex County line is a first step to expand rail service to Pennsylvania’s Pocono Mountains, a haven for ex-New Jerseyans seeking lower living costs. That $500 million proposal has been on the drawing board for decades without federal funding.
“I moved here in 1983 and the first thing we heard was the train is coming,” said John Moyer, 69, chairman of the governing body for Monroe County, Pennsylvania, where a high percentage of residents have one of the nation’s longest mega-commutes to New York City. “I’m not sure that I’m going to live long enough for it to get here.”
By Samantha Marcus | NJ Advance Media for NJ.com
on March 31, 2016 at 5:40 PM, updated March 31, 2016 at 5:41 PM
TRENTON — New Jersey’s public pension shortfall, already one of the worst in the country, got even bigger in 2015, according to new actuarial reports.
Unfunded liabilities in the state retirement system for government workers grew to $43.8 billion, as of July 2015. The state system had $85.2 billion in liabilities but just $41.4 billion in assets, 48.6 percent of the money needed to pay for promised benefits.
The unfunded liability reported at the end of July 2014 was $40 billion, but Department of Treasury officials said that figure has since been revised. The up-to-date data was not immediately available.
