the staff of the Ridgewood blog
Ridgewood Nj, seems everybody is leaving or planning to leave New Jersey these days , why even Congressman Frank Pallone Jr has abandon the Garden State .
According to Art Gallagher of the blog “More MonmouthMusings ” Congressman Frank Pallone, Jr and his wife signed mortgage documents and affidavits in 2016, and again this year, in which they represented that the home they have owned in the Glover Park section of Washington, DC since 1992 is their primary residence, according to District of Columbia property records.
Glover Park is a neighborhood in the Northwest section of the capitol that is home to several embassies. The Pallone residence is .6 of a mile from the U.S. Naval Observatory (Vice President’s residence) and .3 of a mile from the Russian Embassy. The home, situated across the street from a park, is valued at $880,000, according to zillow and trulia.
Pallone joins a long list of New Jersians fleeing the high cost of living and low quality of life state for greener pastures else where .
The list includes hedge-fund billionaire David Tepper. In December of 2015, Mr. Tepper declared himself a resident of Florida after living for over 20 years in New Jersey. He later moved the official headquarters of his hedge fund, Appaloosa Management, to Miami.
The state would not say exactly how much Mr. Tepper paid in taxes. But according to Institutional Investor’s Alpha, he earned more than $6 billion from 2012 to 2015. Tax experts say his move to Florida could cost New Jersey hundreds of millions of dollars in lost payments.
For the past five years, New Jersey has lost a larger percentage of its population than any other state. For the first time in half a decade, New Jersey ranks number two on this list, with Illinois being the number one state facing a mass emigration. Still, over sixty percent of New Jersey moves in 2017 were residents moving out, not in.
