Ridgewood NJ, despite repeated warnings from the Ridgewood police and articles on this blog on December 24, a Laurel Road resident reported being the victim of a fraud and theft by deception. The victim reported while attempting to purchase a vehicle listed on ebaymotors.com, the seller convinced the victim to make payments by purchasing eBay gift cards as payment for the vehicle. The victim reportedly purchased the gift cards and provided the seller the gift cards online before realizing the fraud. The victim notified the eBay internet crime complaint center of the incident.
Ridgewood NJ, the Ridgewood Police report that a Lynn Street resident reported being the victim of criminal mischief on December 22. The victim reported an unknown person damaged and removed Christmas decorations outside of the residence. The amount of damage is unknown at this time.
WASHINGTON – The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances.
The IRS has received a number of questions from the tax community concerning the deductibility of prepaid real property taxes. In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018. A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017. State or local law determines whether and when a property tax is assessed, which is generally when the taxpayer becomes liable for the property tax imposed.
The following examples illustrate these points.
Example 1: Assume County A assesses property tax on July 1, 2017 for the period July 1, 2017 – June 30, 2018. On July 31, 2017, County A sends notices to residents notifying them of the assessment and billing the property tax in two installments with the first installment due Sept. 30, 2017 and the second installment due Jan. 31, 2018. Assuming taxpayer has paid the first installment in 2017, the taxpayer may choose to pay the second installment on Dec. 31, 2017, and may claim a deduction for this prepayment on the taxpayer’s 2017 return.
Example 2: County B also assesses and bills its residents for property taxes on July 1, 2017, for the period July 1, 2017 – June 30, 2018. County B intends to make the usual assessment in July 2018 for the period July 1, 2018 – June 30, 2019. However, because county residents wish to prepay their 2018-2019 property taxes in 2017, County B has revised its computer systems to accept prepayment of property taxes for the 2018-2019 property tax year. Taxpayers who prepay their 2018-2019 property taxes in 2017 will not be allowed to deduct the prepayment on their federal tax returns because the county will not assess the property tax for the 2018-2019 tax year until July 1, 2018.
The IRS reminds taxpayers that a number of provisions remain available this week that could affect 2017 tax bills. Time remains to make charitable donations. See IR-17-191 for more information. The deadline to make contributions for individual retirement accounts – which can be used by some taxpayers on 2017 tax returns – is the April 2018 tax deadline.
IRS.gov has more information on these and other provisions to help taxpayers prepare for the upcoming filing season.
Ridgewood NJ, National Weather Service warns of Hazardous Weather Outlook is for southern Connecticut,northeast New Jersey and southeast New York.
Today Wind chill temperatures are forecast to range from 0 degrees to 10 degrees below zero until around 10 am this morning.
Otherwise, temperatures will average 15 to 20 degrees below normal.
Friday through Tuesday…Temperatures will average 15 to 20 degrees below normal. Wind chill temperatures will range from around zero to
near 15 degrees below zero between midnight and noon daily.
…lots of people were lined up in town hall paying a years worth of taxes without ever consulting their accountants or knowing how it will impact (negatively or positively) their taxes for 2017 (or 2018). There were some people who knew exactly what they wanted to achieve and were strategically pre-paying, but there were lots of FOMO lemmings out there throwing money at the tax collector. . Don’t believe me, go to the tax collector on the 3rd floor of town hall tomorrow and Friday and survey the people… most do not know exactly how much they should pre-pay to achieve a specific desired effect… most are just panic pre-paying on the basis of what they read online or what a friend’s friend told them they should be doing.
A couple of tips from Assemblywomen Holly Schepisi in evaluating 2018 tax planning:
1. Call your accountant and discuss your individual circumstance prior to pre-paying anything.
2. If you are subject to the Alternative Minimum Tax you will receive NO benefit by pre paying your taxes.
3. Do not prepay an entire year
4. Notwithstanding some of the hysteria and doomsday reports for NJ residents, a liberal think tank put forth a report yesterday that less than 11 percent of those in NJ will see any increase in overall taxes as a result of the new federal tax plan and most of these people fall into high or very high income ranges. 5. Today, Governor Christie issued the following executive order which mandates municipalities accept
Prepayment Of 2018 Property
This was one of many Roberta favors for a friend with full support from the 3 amigos. If tax payers took a few minutes to get the facts about where their money goes instead of just bitching about parking they would be shocked.
The give away at habernickle Park is insane. Use of 11 acres and all the amenities we tax payers pay for a mere $3700 a month. No water bill either for a gardening business.
Let’s talk liability too.. the VC is ignoring the ridiculous hellbarn contract..who is looking out for us? Say one of the 25-30 kids arriving by bus gets hurt…gets hurt while hiking on the steep terrain ( yes they go into the woods during the healthy eating camp and field trips ) I guess because there isn’t much else to do!! Anyway who will be paying that law suit…YOU the tax payers because the VC is allowing a business to USE the park as part of her business plan!!!
So basically healthbarn charges kids to use a free park…scam or what???
And anything that may go wrong with these “keep busy” activities because the garden is frozen, falls on us tax payers…part of the activities for this healthy eating class (haha) is kids also paying healthbarn to be on the soccer field and hang on the broken nets.. not playing soccer just hanging around and tearing up our nets.
That sounds fun…( NOT) until someone gets hurt and tax payers are paying those bills too along with all the other bills we pay for at the gate house to operate just so Roberta’s friends business makes money!
Thanks VC for not looking into this contract after Roberta left and clearing up any possible liability that may fall upon tax payers.
An overhaul of this lease is long over due!!! Take the time and do it. We cannot afford yet another law suit!
Ridgewood NJ, according to Village Manager Heather Mailander , “At this time, we are not going to extend the office hours, due to the fact that there is no lead time in letting people know about it. It has been on our website since last week. Over the past three weeks, hundreds of residents have called in to get information or have come in to prepay their 2018 taxes and continue to do so. Today alone, the line to prepay taxes has extended past the Building Department and over 500 residents have prepaid their 2018 taxes today.”
IMPORTANT INFORMATION REGARDING PRE-PAYMENT OF REAL ESTATE TAXES
Office hours Monday – Friday 8:30am – 4:30pm
Ridgewood NJ, The Village of Ridgewood Tax Office will accept any regular payment or pre-payment toward real estate taxes.
Your pre-payment of 2018 taxes (or any portion thereof) must be received in this office no later than December 29, 2017. We do not accept postmark.
Payments may be dropped in the yellow mail box marked “Village Mail Only” at the rear entrance of Village Hall.
Neither the Tax Collector nor employees of the tax collector’s office can give information or advice pertaining to the deductibility of any payment of real estate taxes for personal income tax purposes. Residents are encouraged to seek advice from their personal tax professionals on such matters.
If your taxes are paid through your mortgage company, you must contact them first to confirm that they will not also make payment. We have already reported payment amounts due for the February quarter to all of the mortgage companies.
Also, if you should request a refund, we will send you a 1099.
Trenton NJ, Governor Chris Christie today signed the following Executive Order:
Executive Order No. 237 – Directs the Director of the Division of Local Government to notify municipalities to accept payments for 2018 property taxes in calendar year 2017 and require them to credit those payments as received in 2017 if the payment is postmarked on or before December 31, 2017.
“The action I took today will ensure that local governments are flexible and accommodating of their local property taxpayers as we transition to the new federal tax code for 2018,” Governor Christie said. “This executive order requires local officials to dedicate the resources and staffing to serve New Jerseyans who are planning in this way for their families and their futures.”
Ridgewood NJ, CPA James Brown says Home Mortgage Interest , (Schedule A – Lines 10-12) under the old tax law, a taxpayer could deduct the interest on up to $1 million of acquisition debt for the purchase of the taxpayer’s first and second homes. In addition, taxpayers were allowed to deduct the interest on up to $100,000 of home equity debt. The new law reduces the $1 million limit on home acquisition debt to $750,000 ($375,000 for married separate filers) for first and second homes, except the lower limit won’t apply to indebtedness incurred before December 15, 2017. That is, the $1 million cap continues to apply to acquisition mortgages on a primary and second residence already in existence prior to December 15, 2017. However, starting with 2018 returns, the new law does not permit a deduction for any equity debt, which can have an adverse impact on individuals who have used their home equity to pay for costs of tuition, travel, cars, and other purposes.
the fly has learned that there is some resistance to in the Central business community to accept the estate card , which offers credits to residents toward payment of property taxes . Some resident groups are considering boycotting the central business district over their lack of enthusiasm …
Ridgewood NJ, the Village of Ridgewood is currently executing a ticket blitz on employees that use street parking instead of the employee parking lots. After much effort was made by the Village to support the merchants and restaurants the employee parking lots have not been used and there is a resistance to use them from both the Chamber and the Guild . The ticket blitz is seen a way for tax payers to collect money and help mitigate parking garage costs .
Ridgewood NJ, Here is the newest leaf of date as per the Village Hall ; as of 12/21/17 we are currently working in Area D. It is anticipated that we will begin collection in Area A on Wednesday, December 27th. After Area A is completed we will perform a final collection through Area C, Area, D, Area B and Area A weather permitting. You can always bag your leaves in paper biodegradable bags or bring leaves to the Recycling Center. The hours of operation at the Recycling Center are Monday through Saturday, 8:00 AM – 3:00 PM. If you bag your leaves please call the Street Division at (201) 670-5585 and we will collect them up to February 28th.
Ridgewood NJ, new vision for Schedler Field is a grand compromise . Like many of you we immediately thought here we go again. However the Schedler ad hoc committee attempted to balance historical preservation, sports , passive parks , the neighborhood , traffic and the environmental impact.
First a little back ground :
Zabriskie–SchedlerHouse isone of the lastremaining 1820’sDutchwood framehousesinBergenCounty
In 2003, Ridgewood Open Space Committee submitted plan identifying Schedler property as a “first-priority” target for acquisition by Ridgewood
In 2007, Village was informed that family would be selling Schedler property
In 2008, Open Space Committee provided Council with report recommending that “the initial development [of Schedler property] consist of a parking lot, a baseball diamond and overlay multipurpose field (without lights or restrooms), with the remainder of property left as passive recreation space with wooded areas and a disabled-accessible (ADA compliant), senior-friendly paved walking path around the perimeter”
In 2008, Open Space Committee urged Village to acquire Schedler property, warning that “if the property is acquired by a private developer, the Village will face the possibility of a ‘builder remedy’ suit forcing the Village to accept high-density multi-family residential development of the property including affordable housing units”
In 2009, Village purchased Schedlerproperty for $2.7 million with grants from the Bergen County Open Space Trust Fund
In 2013, Village purchased Shotmeyerproperty, a .358 acre parcel of land that was surrounded by the Schedler property, for approximately $90,000.
In 2015, Council passed resolution adopting Open Space Committee’s recommendation for passive and active park that included playground, walking path, 90 ft. baseball diamond, and a 120 x 75 yd. multi-purpose field. Resolution also provided road map for stabilization and possible restoration of Schedler house
In 2017, the Council rescinded 2015 resolution, deciding instead to re-analyze the proposed plan for Schedler, and appointed this Ad Hoc Committee to propose a development plan.
In the end they came up with a very scaled down sports field with no baseball diamond , some parking , removal of dead and or dangerous trees , an eye on preservation and enriched passive park options with respect to the neighbors and neighborhood.
It appears to be a nice balance between the neighborhood, sports and historical preservation and recreation.
Ridgewood NJ, the Bergen County Historical Society mention the Historical Archibald Vroom House, which adds, and does not detract, from the charming downtown. This is just one of many examples where historic structures add to the charm of an area but also are able to be reused in unique ways privately. These historic structures define our communities and who we are.
