We should all get our heads out of the sand. The state of New Jersey (and others) are in a dire financial situation due to unfunded pensions, ridiculous Union costs including health care, and obnoxious teacher contracts including pensions. Ridgewood is the poster for this behavior. The police, fire, and teacher contracts are just unsustainable no matter how good we think the services are. Why else would the mayor get all her kids on the town payroll and pensions if they were not well paid with life benefits ?
Ridgewood is not as desirable as we all hope. Our property values have eroded with no real appreciation (why we can appeal tax assetment every year). Selling a house in Ridgewood is no longer a easy task, taxes are too high, no water, poor roads, normal school ratings, commute to NYC requires changing trains, fighting for parking, or long bus rides (Summit, Short Hills etc have no change). If you ask in NYC where young people are looking to move it is Westchester, southern/central NJ, and Nassau County. The house we purchased 15 years ago and fully updated is worth less now then what we initially paid for it.
Taxes for a similar house (sq foot and cost) in those areas (1 hour commute to NYC) are 30-50% less then Ridgewood with similar rated schools, fire and police protection, less village “rules” and the simple ability to water your lawn or wash your car.
The population numbers posted by 3:42 negate that the high earners are leaving at a increasing pace. Think about why someone would pay a state tax of 7-11% when they can move less then 100 miles away and pay 0-3 %. Retires or high earners are mobile, there is little reason to pay NJ/Ridgewood much longer
