I am the original poster and I am VERY aware of which NJ residents get hurt by this bill.
These are the same NJ residents that Obama forced a tax hike on in 2010. These are the same NJ residents that NJ Democrats are chomping at the bits to hike taxes on.
These NJ residents are hurt in the new tax bill because NJ Democrats bleed them dry at the state level. Someone earning the same amount in Texas is going to get a net tax cuts.
Repeat after me – these NJ residents are being looted by Democrats, such as Josh Gottheimer.
With a record number of New Jersey residents holding jobs, Gov. Chris Christie on Tuesday announced the state will be able to offer $200 million in tax relief to businesses by cutting their contributions to unemployment insurance. Claude Brodesser-Akner, NJ.com, Read more
JUNE 2, 2014 LAST UPDATED: MONDAY, JUNE 2, 2014, 1:21 AM BY MARY DIDUCH STAFF WRITER THE RECORD
PARAMUS — The Borough Council unanimously approved a municipal budget that calls for an average tax decrease of $105 this year.
The $57.1 million spending plan also shows the borough will have a $9 million surplus this year, achieved largely through “fiscal discipline” and the borough reducing its debt by more than $10 million over the past four years, said Mayor Richard LaBarbiera. He said recently that the borough has increased its number of shared services agreements to 20 over the past few years, bringing in additional revenue.
“In my opinion, that is a herculean accomplishment in today’s economic times,” LaBarbiera said at Tuesday’s meeting.
The borough also has been working to manage the massive amount of commercial tax appeals that have been filed over the years, mainly from the borough’s many malls and businesses along Route 17, said Frank DiMaria, the borough’s auditor.
At the council meeting, DiMaria credited the borough’s team of professionals — the finance department and committee, tax assessor and attorneys — with working to put a plan in place to manage the commercial appeals. The professionals also have been working to keep assessments as close to 100 percent of properties’ true market value as possible to reduce the appeals’ impacts, he said.
“They’ve done a tremendous job over the years of stabilizing the impact of appeals along Route 17 when we took a tremendous hit,” DiMaria said.
And as for the $2 million that will be returned to taxpayers this year in the form of tax relief, more than half of that has already been recaptured by the borough, DiMaria noted.
This year’s budget calls for more spending on capital improvements and long-needed equipment — such as the purchase of an additional fire engine — and raising employee salaries by 1.5 percent on average across the various bargaining units in the borough, LaBarbiera said. There was a hiring and raise freeze about four years ago, but last year the borough began increasing salaries again, he said.