file photo by Boyd Loving
Given SALT deductions are now limited to $10,000 for property taxes, shouldn’t the Council and BOE be aware that the vast majority of Ridgewood residents have seen an effective tax INCREASE and be looking for ways to reduce the burden? Realized sales values suggest home values will need to decline in the next assessment, so unless they jack up the mill rate, municipal tax revenue levels are unsustainable?
Don’t worry about the Government collecting taxes. If the market values go down the rate goes up.
You are already seeing the effect when trying to sell a home with 20 or 30k in real estate taxes.
How many times do I have to say this….
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1) We’re Rich and Stupid
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2) Municpal Government Does Not Care about the residents.
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