file photo by Boyd Loving
Public sector worker greed has destroyed the state of NJ…. worst state finances, worst state economy, net migration out, highest state & local property taxes in the U.S.A. Until we vote out the Democrats in Trenton and the public safety, teacher and NJ Transit lackeys in our municipalities, it will get worse.
The Empty Suit (BOOKER)must have spent too much time in the “Choom Wagon”. To have the Feds get in the pot business for tax reasons as the country further stupifys itself is insane. The latest buzz is about an opioid crisis and the government wants to sue the drug manufacturers. If they could collect taxes on heroin, would they whistle a different tune?
Recently President Donald J. Trump Directed the Administration to Use All Appropriate Authority to Respond to Opioid Emergency. Building upon the recommendations in the interim report from the President’s Commission on Combating Drug Addiction and the Opioid Crisis, President Donald J. Trump has instructed his Administration to use all appropriate emergency and other authorities to respond to the crisis caused by the opioid epidemic.
Even if one were to wave a magic wand and make these business-friendly changes, it’s way too late. NJ is operating in a state of virtual bankruptcy and servicing its debt is beyond anything changes like these could address. The world is changing, and location is no longer an issue. Businesses can be anywhere now and will always seek the lowest possible cost in terms of employees and real estate. It’s hard keeping anything in the USA, even in its lowest cost areas, when these businesses (or really competing businesses) can operate in places in China, the Philippines, India, etc. If NJ didn’t have such a massive debt load, it could probably ride this transition for many years, but we do have it, and the can is only kickable for so long until financial reality kicks in.
July 26,2017
the staff of the Ridgewood blog
Ridgewood NJ, The fiscal health of America’s states affects all its citizens. Indicators of fiscal health come in a variety of forms—from a state’s ability to attract businesses and how much it taxes to what services it provides and how well it keeps its promises to public-sector employees.
The Mercatus Center at George Mason University’s “Ranking the States by Fiscal Condition,”is now in its fourth year, Eileen Norcross and Olivia Gonzalez calculate indicators of fiscal health for all 50 states. Based on states’ 2015 financial statements, Florida ranks first as the most fiscally healthy state, while New Jersey ranks the lowest.
The study ranks each US state’s financial health based on short- and long-term debt and other key fiscal obligations, such as unfunded pensions and healthcare benefits. With refinements in its methodology, the 2017 edition updates the version that the Mercatus Center published in 2016. It presents information from each state’s audited financial report in an easily accessible format and is the most comprehensive snapshot of state financial health to date.
As usual New Jersey ranked 50th or dead last ,even behind bankrupt Illinois which ranked 49th. Even Connecticut with its aggressive taxation policies that drove out huge employers General Electric and Aetna still ranked 37th.
file photo
I’m in the real estate market in the village, and we have close to 200 homes for sale. 40% of them are senior citizens, the rest are people that are bailing out. And they all tell me that this town is overrated. The schools are not number one anymore, the services are not the same they have declined, and the taxes are too high. This is what they are alerting me to.
file photo by Boyd Loving
Updated July 18, 2017
Posted July 18, 2017
By Samantha Marcus | NJ Advance Media for NJ.com
So where in your county do property taxes hurt the most?
Last month, we showed you which towns in New Jersey had the highest property tax burdens, which is to say, those where the average property tax bill takes up the biggest share of median household income.
Here, we pulled out the top towns from each of New Jersey’s 21 counties.
New Jersey has the nation’s highest property taxes, but it’s much worse in some parts of the state than others. For example, Cumberland’s pain index is far lower than other counties. Top towns in eight counties did not crack our top 30 list for property tax pain.
Some of the state’s 565 municipalities were excluded from our analysis, as the median income margin of error was too high because of the American Community Survey’s small sample size.
Here’s the county-by-county list.
file photo by Boyd Loving
By Vince Calio, June 27, 2017 at 1:19 PM
Yet another business survey has found that New Jersey has one of the worst tax climates for small businesses, but those numbers may not be telling the whole story.
The Small Business & Entrepreneurship Council’s Small Business Tax Index 2017 ranked all 50 states on how friendly their tax climates are to small businesses. New Jersey finished second to last overall, beating out only California. The result has not changed since the SBE’s survey was done in 2014.
The five states with the friendliest tax climates for small businesses:
1. Nevada;
2. Texas;
3. South Dakota;
4. Wyoming;
5. Washington state.
Conversely, the five states with the worst tax climates:
46. Iowa;
47. Minnesota;
48. Maine;
49. New Jersey;
50. California.
By Alyana Alfaro • 06/19/17 4:25pm
Cities in New Jersey that do not use resources to enforce federal immigration laws regarding undocumented immigrants —known as sanctuary cities— may soon be able to apply for state grants aimed at replacing federal funding that is withheld due to sanctuary jurisdiction.
On Monday, a bill requiring the state to establish a program to replace those federal funding losses (A-4590/S3700) was advanced by the Assembly Budget Committee. The bill was also scheduled to be put up for a vote in the state Senate but was held by Sen. President Steve Sweeney (D-Gloucester) due to the absence of some Democratic members. It will likely be voted on by both houses of the Legislature before the end of the legislative session in June.
“It’s critical for the state to support its local government entities in this dispute,” said Assemblyman Raj Mukherji (D-Hudson), one of the sponsors in the Assembly. “New Jersey is home to Ellis Island, the Gateway to America, and has played a pivotal role in welcoming immigrants to this nation. The state is one of the most diverse in the nation, and its communities and history have unquestionably been enriched and strengthened by welcoming and encouraging this diversity. We must protect this legacy.”
file photo
June 7,2017
the staff of the Ridgewood blog
Ridgewood NJ, Ridgewood ,Glen Rock and Ho Ho Kus all Make the NICHE 2017 100 Best Places to Buy a House list.
The NICHE 2017 Best Places to Buy a House ranking provides a comprehensive assessment of the housing and community of an area. This grade takes into account key factors of a location’s housing market, including home values, taxes, crime rates, and quality of local schools, in an attempt to measure the quality and stability of an area’s real estate market.
In Bergen County Ridgewood neighbor Glen Rock fared best with a rating of 17, Ho Ho Kus a 55, Ridgewood 66, and Fairlawn 87. Other Bergen County towns who ranked well Haworth 24, Demarest 29, Ramsey 32, Mahwah 42, Oradell 66 , and Allendale 93.
photo Glen Rock Mayor Bruce Packer
June 6,2017
the staff of the Ridgewood blog
Ridgewood NJ, according to the PATCH ,Glen Rock Mayor Bruce Packer is joining with nearly 190 other mayors across the United States in the fight against global warming.
Politico tells us that three Democratic candidates for governor have pledged that, if elected, New Jersey will keep following the requirements of the Paris climate accord regardless of President Trump’s decision last week to withdraw the United States from the international pact.
Former U.S. ambassador Phil Murphy, Assemblyman John Wisniewski (D-Middlesex), and former U.S. Treasury official Jim Johnson all said last week that they would follow the lead of California, Massachusetts, New York, Washington and other states that have committed to keep following the Paris agreement in the wake of Trump’s decision.
Our questions is has anyone of these politicians read the “Paris Accord” ? Did you miss the part where American taxpayers will be sending over a $100 billion dollars over seas in a massive transfer of wealth with almost no impact on climate at all?
The Clean Power Plan and oil fee taken together would have an effect comparable to a $30-per-ton carbon tax, which would cost households in the lowest income quintile $20 billion annually. That is equivalent to raising their federal tax burden more than 160 percent. Crushing the poor whom energy is a far larger part of their overall expenses.
Sorry climate alarmist , the sum of many pledges to do nothing is: nothing. When the Massachusetts Institute of Technology compiled the pledges and compared them with its own preexisting projection, it found a temperature reduction by 2100 of only 0.2°C and when the analysts compared the pledges with the projection created by the U.N.’s Intergovernmental Panel on Climate Change back in 2000, they found no improvement at all.
New Jersey state treasurer says Gov. Chris Christie’s fiscal year 2017 budget is expected to be about $527 million shy of expected revenues.
| May 16, 2017, at 6:50 p.m.
TRENTON, N.J. (AP) — New Jersey state treasurer told lawmakers Tuesday that Gov. Chris Christie’s fiscal year 2017 budget is expected to be about $527 million shy of expected revenues.
Ford Scudder told the Democrat-led Senate budget committee that the Republican administration will account for the shortfall by spending less than expected in a number of programs. He also said it will divert $50 million from the Clean Energy Fund and defer homestead benefit payments to towns across the state.
The shortfall is smaller than in previous years when Christie at one point in 2014 faced a $3 billion gap across two fiscal years and was forced to slash payments to the state’s public pension to make up for the missed revenue projections.
Scudder also told legislators that revenue projections for the 2018 budget, which begins on July 1, are expected to be $191 million higher from those made earlier this year.
Scudder’s estimates contrast with the nonpartisan Office of Legislative Services, which has estimated a $687 million gap to close over the two fiscal years. The legislative analysts said they expected the 2017 revenues to dip by $274 million compared to earlier estimates and by $413 million for 2018.
These are Christie’s final two budgets as governor, as he is term-limited and expected to leave office in January. He’s proposing a $35.5 billion spending plan for 2018, which lawmakers are considering.
By Michael Symons May 16, 2017 5:35 PM
TRENTON — State officials are counting on stepped-up enforcement and better responsiveness from its Taxation Division to bring in a few hundred million dollars extra in the budget that Gov. Chris Christie will hand off to his successor.
At a budget hearing Wednesday, state Treasurer Ford Scudder lowered projections of how much in revenue the state will collect over the next 14 months by $336 million. It would have been about $200 million greater if not for the efforts to “modernize” the state Division of Taxation.
Scudder said the state will issue tax bills earlier with follow-up reminders about overdue bills similar to those used by credit card companies, plus make its website easier to use and understand.
Read More: NJ hoping to raise $200M from stepped-up tax enforcement | https://nj1015.com/nj-hoping-to-raise-200m-from-stepped-up-tax-enforcement/?utm_campaign=new-jersey-politics&utm_content=2017-17-05-9631825&utm_source=Sailthru&utm_medium=email&utm_term=channel-new-jersey-politics-distribution&trackback=tsmclip
file photo
Truly Amazing to see any official defend this type of budget. If my company performance mirrored that of our schools with the never ending costs I would be fired in a moment. Ridgewood you win.
Reluctantly After 20 years in Ridgewood, we have changed our plans and will be joining others who are leaving. Our children are gone and although we planned to stay and the village should also want us to stay as we have no longer have kids in the system, we have lost the fight. Our property taxes are almost $50,000. The taxes have gone up almost 8x in 20 years while my home value has been stagnant or reduced. The schools do not excel despite the spin, I can’t water my lawn, can’t park at the station to get to work, can’t get through town with all the traffic, very hard to live here now. The mayor is able to get her family village jobs, sell us her property for millions, Spend money on a old house and then fight to protect it, guess the list goes on.
Funny thing. We have a house in another part of NJ with a higher value, half the taxes, higher ranked schools, and much easier commute to NYC.
Good luck Ridgewood. Will miss it.
By Dino Flammia May 2, 2017 2:53 AM
You hate taxes but love buying stuff. So what’s better than reducing your tax burden by purchasing a slice of pizza or new floors for the house?
A growing number of New Jersey municipalities are introducing property tax rebate cards into the community — an idea birthed by Marlboro Township in 2012.
Residents register cards with their homes, and when they present their cards upon making a purchase at participating businesses, portions of those purchase are eventually shaved off their third-quarter property tax bills.
Since May 2016, Union Township residents realized $4,350 in property tax savings as of February with the Union VIP card, according to Fatimah Raymond, executive director of the town’s Special Improvement District.
Read More: These towns will give you a property tax break for buying locally | https://nj1015.com/these-towns-will-give-you-a-property-tax-break-for-buying-locally/?trackback=tsmclip
APRIL 26, 2017
Washington DC, We have a once-in-a-generation opportunity to do something big. President Trump has made tax reform a priority, and we have a Republican Congress that wants to get it done. This is something that Democrats should support too because it’s good for the American people.
The President is going to seize this opportunity by leading the most significant tax reform legislation since 1986 – and one of the biggest tax cuts in American history.
The President has focused on three things since his campaign: job creation, economic growth, and helping low and middle-income families who have been left behind by this economy. He understands that there are a lot of people in this country that feel like they work hard and still can’t get ahead. They are sick of turning their paychecks over to Washington and having no idea how their tax dollars are spent. They are frustrated by a tax code that is so complicated that they can’t even do their own taxes.
That’s why tax reform is such a big priority for this President. He cares about making the economy work better for the American people.
We are going to cut taxes for businesses to make them competitive, and we are going to cut taxes for the American people – especially low and middle-income families.
In 1935, we had a one-page tax form consisting of 34 lines and two pages of instructions. Today, the basic 1040 form has 79 lines and 211 pages of instructions. Instead of a single tax form, the IRS now has 199 tax forms on the individual side of the tax code alone. Taxpayers spend nearly 7 billion hours complying with the tax code each year, and nearly 90% of taxpayers need help filing their taxes.
We are going to cut taxes and simplify the tax code by taking the current 7 tax brackets we have today and reducing them to only three brackets: 10 percent, 25 percent, and 35 percent.
We are going to double the standard deduction so that a married couple won’t pay any taxes on the first $24,000 of income they earn. So in essence, we are creating a 0 percent tax rate for the first $24,000 that a couple earns.
The larger standard deduction also leads to simplification because far fewer taxpayers will need to itemize, which means their tax form can go back to that one simple page.
Families in this country will also benefit from tax relief to help them with child and dependent care expenses.
We are going to repeal the Alternative Minimum Tax (AMT). The AMT creates significant complications and burdens by requiring taxpayers to do their taxes twice to see which is higher. That makes no sense; we should have one simple tax code.
Job creation and economic growth is the top priority for this Administration, and nothing drives economic growth like capital investment. Therefore, we are going to return the top tax rate on capital gains and dividends to 20 percent by repealing the harmful 3.8 percent Obamacare tax. That tax has been a direct hit on investment income and small business owners.
We are going to repeal the death tax. The threat of being hit by the death tax leads small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren’t hit with a huge tax when they die. No one wants their children to have to sell the family business to pay an unfair tax.
We are going to eliminate most of the tax breaks that mainly benefit high-income individuals. Home ownership, charitable giving, and retirement savings will be protected – but other tax benefits will be eliminated.
This is not going to be easy. Doing big things never is. But one thing is for certain: I would not bet against this President. He will get this done for the American people.
Gary Cohn is the chief economic advisor to President Donald J. Trump and Director of the National Economic Council.
