Tag: Trenton

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New Jersey Last again tops nation in auto insurance rates and only lower gas prices are keeping state from most expensive place to own a car.

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New Jersey Last again tops nation in auto insurance rates and only lower gas prices are keeping state from most expensive place to own a car.
March 23,2015
the staff of the Ridgewood blog

Ridgewood NJ, The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the national average of $815.https://newjersey.news12.com/news/report-new-jersey-tops-nation-in-auto-insurance-rates-1.10103446

A lesser known fact is that New Jersey is now the 5th most expensive state to own a car , with only lower gas prices ie gas taxes keeping us from last place . ( https://www.bankrate.com/finance/auto/car-ownership-costs-by-state.aspx )

Bankrate analyzed the cost of gasoline, repairs and insurance in all 50 states and the District of Columbia. Labor and parts data were provided by CarMD.com, while gas spending was calculated with statistics from GasBuddy.com and the Bureau of Transportation Statistics. Insurance costs were compiled from National Association of Insurance Commissioners statistics.( https://www.bankrate.com/finance/auto/car-ownership-costs-by-state.aspx#ixzz3VDEPJ73V )

Another reason not to raise the gas tax!

 

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The Trenton Nanny State wants your little ice skater wearing a helmet

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The Trenton Nanny State wants your little ice skater wearing a helmet

By Matt Rooney | The Save Jersey Blog

New Jersey continues to take its “Nanny State” reputation to new extremes, Save Jerseyans. This is already the state where kids can’t shovel snow for extra cash without getting harassed. And the government seated in Trenton keeps on pushing…

A solution in search of a problem indeed! Trenton excels at passing such measures (often in the gun control context) where there just isn’t any justifiable reason to intervene, based on the statics, other than to make the legislators feel good about themselves AND to give them content for their feel-good reelection mailers.

This particular bill is upsettingly bipartisan – sponsored by Assemblywomen Marlene Caride (D-Ridgefield) and Nancy Munoz (R-Union) and its designed to force anyone under age 17 to wear a helmet while ice skating or riding a non-motorized scooter; it would also increase the mandatory helmet from 16 to 17 for bike riding/skateboarding. Ice skaters in competition would be exempt.

Again… why??? Statistics are hard to come by, but according to the American Association of Neurological Surgeons, in 2009, more than twice as many Americans were treated in emergency rooms for head-related injuries sustained playing golf. Soccer produced 6-times as many head injuries as ice skating! Even trampolining is more dangerous.

https://savejersey.com/2015/03/the-trenton-nanny-state-wants-your-little-ice-skater-wearing-a-helmet/

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Business tax rebates go unpaid by New Jersey

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Business tax rebates go unpaid by New Jersey

FEBRUARY 17, 2015, 9:49 PM    LAST UPDATED: TUESDAY, FEBRUARY 17, 2015, 9:49 PM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

As the state pours billions of dollars in business tax breaks into programs aimed at strengthening New Jersey’s struggling economy, it has put the brakes on another incentive program, leaving hundreds of companies without promised payments that could total in the hundreds of millions of dollars.

Seeking to balance the state budget over the last few years, the Christie administration and the Legislature have each slashed funding for the Business Employment Incentive Program, commonly referred to as BEIP, eliminating payments to companies that were promised annual income tax rebate checks in return for moving to New Jersey or expanding here.

The affected businesses range from HighRoad Press — a small printing company that was promised $345,000 over 10 years for its move from Manhattan to Moonachie — to retail giant Bed Bath & Beyond, which is owed $2.8 million for creating jobs in 2012 and 2013. Paying out the money from these awards — estimated at $650 million according to one state estimate — would seem out of reach without an unexpected massive boost in state revenues. The state stopped awarding new grants under the program in 2013.

https://www.northjersey.com/news/business-tax-rebates-go-unpaid-by-new-jersey-1.1272924

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Trenton (still) refuses to tackle the onerous fee that’s really an insidious tax

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Trenton (still) refuses to tackle the onerous fee that’s really an insidious tax

Posted by Joe Sinagra On February 11, 2015 2 Comments

By Joe Sinagra | The Save Jersey Blog

The Realty Transfer Fee (RTF) was established in 1968 to offset the costs of tracking real estate transactions. It may be called a fee, Save Jerseyans, but in reality it’s another insidious stealth tax place upon New Jersey home owners. Sometimes this tax is referred to as an “exit tax.”

How does it work? The New Jersey Division of Taxation states that the Realty Transfer Fee is calculated based on the amount of consideration recited in the deed or, in certain instances, the assessed valuation of the property.

Why? This tax started out as a $350 flat fee paid to help support the recording of real-estate transactions such as the upkeep of books, records and maps keeping them up to date.

And what does the size or value of your property have to do with how much tax the seller pays? I would think in this day and age, with all the technology we have, that all of this record keeping should not be as involved as it once was. If the county clerk’s office where all these transactions get recorded, supposedly became more modern and efficient, why have the costs escalated other than being an easy money grab for the state as a guaranteed source of revenue.

https://savejersey.com/2015/02/realty-transfer-fee-new-jersey/

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Law Makers Hope to Bury ‘Death Tax’ in New Jersey

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Law Makers Hope to Bury ‘Death Tax’ in New Jersey

This is just another one of those things that unfairly impact Bergen County because of property values 

TRENTON, N.J. — No state in the nation levies taxes when people die as aggressively as New Jersey.

Most states charge nothing. New Jersey is one of only two states with both an estate tax on the assets of the person who died and an inheritance tax charged to some people who are bequeathed money or assets. Moreover, of the states with an estate tax, New Jersey exempts the fewest from having to pay.

That could change. (Symons/Asbury Park Press)

https://www.usatoday.com/story/news/nation/2015/02/10/lawmakers-hope-to-bury-death-tax-in-nj/23194471/

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N.J. property tax bills increased by more than 2 percent last year, now top $8,000

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N.J. property tax bills increased by more than 2 percent last year, now top $8,000

FEBRUARY 2, 2015, 9:50 PM    LAST UPDATED: TUESDAY, FEBRUARY 3, 2015, 7:04 PM
BY JOHN REITMEYER
STATE HO– USE BUREAU |
THE RECORD

The cap Governor Christie and lawmakers placed on local property tax increases in 2010 seemed to be working. Average property tax bills in New Jersey had grown since that cap went into effect, but the rate of growth was declining.

That all changed last year when, according to new numbers released by the state, the average property tax bill grew by 2.16 percent, beating both the prior year’s growth rate and exceeding the 2 percent limit for the first time since it was put in place in 2010.

The result was property tax bills — long a top complaint of New Jersey residents — went above $8,000 on average for the first time ever in New Jersey. And in some places the bills were much higher last year.

In Bergen County, average property bills increased to $10,826. Passaic County property tax bills rose to $9,572.

To be fair, property taxes have grown by much larger clips in the past. Just a decade ago, the rate of growth from 2004 to 2005 was over 7 percent.

But last year’s increases also came at a time when Christie, due to state budget problems, delayed property tax relief that comes from Trenton via the state’s popular Homestead tax-credit program. The result of that delay meant no one who qualifies for that property tax relief saw a dime last year even as their bills went up on average by $173 to $8,161.

https://www.northjersey.com/news/n-j-property-tax-bills-increased-by-more-than-2-percent-last-year-now-top-8-000-1.1263573

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Readers Comment on Job flight out of New Jersey and killing the golden goose

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Readers Comment on Job flight out of New Jersey and killing the golden goose 

https://theridgewoodblog.net/lure-of-the-south-takes-a-toll-on-corporate-nj-new-demographics-globalization-play-roles/

Wait, What?

You mean the plan to “tax the rich” to fund the NJ economy and redistribute the wealth didn’t work?

How can that be?
It was such a good, well thought out, logical plan

Oh well, let’s try the same plan again – it will surely work next time.

Some time around the very birth of this blog , I sat in a local kitchen and across from me sat among other people Tom Keen Jr who at the time was considering a run for Governor.

I carefully laid out my concerns about what would happen to the North Jersey economy  ,specifically Bergen County if the “Wall Street ” job engine would slow down or stop .
I explained all those Wall Street salaries went to went to pay the very high taxes, rents and utilities  as well as the effect of the enormous disposable income that was spent in shopping malls etc..

Tom looked across the table at me and said , “We are working on banning smoking in bars and restaurants”  and I knew then that our representatives in Trenton have absolutely no clue what so ever as to what they are doing or even the most rudimentary understanding of economics .

Years later a certain leader of the “turf field”proponents,lets just call him Captain Jack used to say OFTEN that ,” if you can’t afford the high taxes you do not belong here ”  and he would go on to claim that the high taxes actually caused the increase in property values. Funny how he left town be for the bill came do for the turf field he supported .

And that my friends is how the golden goose was killed with little fan fare and thus the mess we now find our selves in .

Reader says , “What will really hit the New York metro area is the rapid advancements in technology and communications, which will make it gradually unnecessary to have have “Wall St” and all it’s associated industries in law, accounting, etc., physically located in NY/NJ. This is a massive driver in terms of real estate, employment, and tax revenues for the tri-state area. The basic laws of supply and demand will eventually see this industry scatter. You might think your lifestyle and job is totally unconnected to Wall St, but you would be wrong.”

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North Jersey electricity bills going up?

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North Jersey electricity bills going up?

December 25, 2014    Last updated: Thursday, December 25, 2014, 1:21 AM
By DAVE SHEINGOLD
STAFF WRITER |
The Record

North Jerseyans could face another round of electricity rate hikes under a disputed multibillion-dollar proposal by the manager of the nation’s largest electric grid that is aimed at making sure power plants across a 13-state region continue to operate, no matter how hot or cold it gets.

The plan was proposed by PJM Interconnection LLC, and it comes as regulators and the energy industry are struggling to improve the regional power grid while containing costs. It would require power plants serving New Jersey and 12 other states to assure that they can provide electricity on demand, especially during heat waves and cold snaps. The impetus for the proposal stems largely from a run of frigid weather last winter when some generators failed to produce electricity, increasing the risk of power outages.

However, the proposal would raise energy production costs, with the increase passed on to consumers, by requiring plant operators to improve maintenance on backup generators and guarantee that they will have fuel to fire them up when needed. Fines for failure could skyrocket, further raising costs.

The plan was filed this month with federal regulators by PJM Interconnection, which runs a section of the national power grid from New Jersey to Illinois. It comes after rate hikes approved this year by New Jersey regulators to fund $1.2 billion worth of other projects aimed at improving the power distribution system in the northern and central areas of the state.

https://www.northjersey.com/news/business/north-jersey-electricity-bills-going-up-1.1179836

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Sound Familiar : The 20-year Demise of a Blue State

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Sound Familiar : The 20-year Demise of a Blue State

Rachel Alexander | Dec 22, 2014

I left Washington state about 20 years ago for Arizona. A Washington native, I had become fed up with the left-wing politics of Seattle. A couple of years ago, I moved back to the Pacific Northwest. A lot had changed while I was gone, and very little for the better. The only “improvement” I noticed was more greenery everywhere. The environmentalists had gotten so many restrictions passed on logging and burning dense forestation that the Evergreen State had started to look like a jungle.

Everything else had gone downhill. The roads and traffic had become horrendous, especially in the Puget Sound area around Seattle, since there was no longer enough money to keep up with maintenance and expansion, and the left-wing politicians had prioritized mass transit over road infrastructure and planning. This is despite the fact that Washington has one of the highest gas taxes in the country, resulting in high gas prices. Republican legislators in the state side with the Democrats on many issues, including higher taxes for education and gas. Legislation is now being considered that would tax drivers per mile. Seattle has the eighth worst traffic congestion among large U.S. cities, even though it is only the 22nd largest city. Consequently, drivers have lost their reputation for being the nicest in the nation.

https://townhall.com/columnists/rachelalexander/2014/12/22/the-20year-demise-of-a-blue-state-n1934409/page/full

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Economist says ‘enormous’ N.J.-vs.-U.S. economic gap widening

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Economist says ‘enormous’ N.J.-vs.-U.S. economic gap widening

DECEMBER 17, 2014    LAST UPDATED: WEDNESDAY, DECEMBER 17, 2014, 1:21 AM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

* Gap between state, U.S. job gains widens, Rutgers economist says

New Jersey’s employment problems may be structural, because of factors that include the decline of key industries and the shift away from suburban corporate campuses, and are unlikely to dramatically improve even as the national economic picture brightens, Rutgers University economists said Tuesday.

The gap between the national job-creation performance and New Jersey’s is actually widening, as the national jobs market strengthens and New Jersey’s flounders, said Nancy Mantell, director of the Rutgers Economic Advisory Service, which compiles an economic forecast for the state.

Mantell’s comments, made in New Brunswick at the economic forum organized by R/ECON every six months, offered a dose of grim reality to the hopes that New Jersey’s economy would bounce back as the nation’s does.

The R/ECON predictions came as New Jersey prepares to release the employment figures for November on Thursday. The state lost 4,500 jobs in October, and the jobless rate of 6.6 percent remains above the national rate of 5.8 percent.

https://www.northjersey.com/news/business/slow-n-j-recovery-seen-1.1159092

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NJ rated the 43rd worst-run state in the country.

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NJ rated the 43rd worst-run state in the country.

The Best and Worst Run States in America: A Survey of All 50

By Alexander E.M. Hess, Thomas C. Frohlich, Alexander Kent and Ashley C. Allen December 3, 2014 6:20 pm EST

How well run is your state? Assessing a state’s management quality is hardly easy. The current economic climate and standard of living in any given state are not only the results of policy choices and developments that occurred in the last few years, but can also be affected by decisions made decades ago, and by forces outside a state’s control.

Each year, 24/7 Wall St. attempts to answer this question by surveying various aspects of each state. To determine how well states are managed, we examine key financial ratios, as well as social and economic outcomes. This year, North Dakota is the best-run state in the country for the third consecutive year, while Illinois replaced California as the worst-run state.

Read more: The Best and Worst Run States in America: A Survey of All 50 – 24/7 Wall St. https://247wallst.com/special-report/2014/12/03/the-best-and-worst-run-states-in-america-a-survey-of-all-50-3/#ixzz3LGSo87H0

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N.J. young adults more likely to live with parents, less likely to marry than rest of U.S.

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A clear symptom of a state in decline; ravaged by high taxes and fiscal policies which erode both opportunity and the quality of life for its residents. https://s.nj.com/IoOo8Fk

N.J. young adults more likely to live with parents, less likely to marry than rest of U.S.
By Stephen Stirling | NJ Advance Media for NJ.com

New Jersey’s young adults are better educated than they were 30 years ago, but are earning less and are far more likely to live with their parents than the previous generation, according to new data released today by the U.S. Census Bureau.

The new figures, released as part of the U.S. Census Bureau’s American Community Survey, take a look at the young adult population across the country from a period of 2009 to 2013. They paint a fascinating picture of the state’s rapidly evolving 18 to 34 year-old demographic, one that will likely dictate the future of the Garden State but is still suffering the lingering effects of the Great Recession.

Nearly 30 percent of New Jersey’s 18 to 34 year-olds now hold a Bachelor’s degree, the new data show, compared to 19 percent in 1980 and 22 percent across the rest of the country.

https://www.nj.com/news/index.ssf/2014/12/nj_young_adults_more_likely_to_live_at_home_less_likely_to_marry_than_rest_of_us.html

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Report: NJ at back of the pack for jobs growth

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Report: NJ at back of the pack for jobs growth

DECEMBER 3, 2014    LAST UPDATED: WEDNESDAY, DECEMBER 3, 2014, 6:13 PM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

A private sector employment report showing the nation has added jobs at a healthy clip since the start of the year also shows just how far behind New Jersey remains in the economic recovery.

The nation added 208,000 private sector jobs in November, taking the total added to 2.26 million this year, according to the monthly survey released Wednesday by ADP Research Institute, a division of Roseland-based payroll company ADP.

The employment increase of about 2 percent for the year so far, very close to the official government figures from the U.S. Bureau of Labor Statistics, is the latest evidence that the recovery from the Great Recession is continuing at a good pace.

Meanwhile, New Jersey’s private sector employment has increased by slightly more than a third of that amount – just over 0.7 percent – as several key sectors have lost jobs this year, according to the state’s latest employment report, which covers the year through October. The sectors in which New Jersey’s private employment has fallen this year included construction, manufacturing and leisure and hospitality.

New Jersey lagged in particular in the “goods producing” sector, which has fallen by just over 1.1 percent so far this year, losing about 4,200 jobs, compared to a gain of 1.86 percent nationwide, according to the ADP report.

https://www.northjersey.com/news/business/report-u-s-november-jobs-strong-but-impact-on-nj-unclear-1.1145507

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New Jersey loses jobs in October as it prepares for bond sale

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New Jersey loses jobs in October as it prepares for bond sale
By By Hilary Russ | Reuters – 4 hours ago

(Reuters) – New Jersey’s economy showed more cracks on Thursday as the U.S. state with the second-lowest credit rating in the country reported 4,500 jobs lost in October and an upward tick in its unemployment rate.

The latest bad news broke a streak of much-needed labor market improvement that had been slow but steady for the Garden State, and it came in advance of a planned $525 million state borrowing on Dec. 3.

The unemployment rate rose by 0.1 percentage point to 6.6 percent in October. More than half of the jobs lost were in the private sector, particularly in construction, preliminary data from the U.S. Bureau of Labor Statistics showed.

A spate of casino closures in Atlantic City, which has suffered from increased competition in nearby states, also weighed on the state in October, as they did in September, said New Jersey labor spokesman Brian Murray.

Accommodation and food service jobs declined by 2,200 jobs in October, due in part to the closure of the Trump Plaza, he said.

The state has now recovered only 48 percent of the jobs it lost during the 2007-2009 recession, far less than New York and nationwide, according to the left-leaning research group New Jersey Policy Perspective.

Wall Street credit rating agencies have downgraded the state eight times because of its poor economic recovery and large public pension shortfalls. Governor Chris Christie, a potential 2016 Republican presidential candidate, took controversial actions – not putting the money into the pension system that the state was supposed to contribute – in the middle of a budget crunch this year.

https://ca.news.yahoo.com/jersey-loses-jobs-october-prepares-bond-sale-193419248.html