
Steve Kim
Ridgewood NJ, Over the past several years, there has been noticeable weakness in the higher priced homes.
In Ridgewood, about 14 percent of house are assessed at over $1 million. These homes pay about a quarter of aggregate property taxes.
If the above $1 million homes under-performed by 10 percent vs under $1 million home (this is a realistic assumption), in the next reassessment, the latter category would experience a tax increase of about 3.5 percent on average. It’s already sort of inching in that direction given a growing backlog of tax appeals for the higher priced homes.
So for 6315 households, the $96 million referendum, if passed, would raise taxes by 5 percent or so, then another tax increase could happen because of falling prices of the higher priced homes.
Something else to think about…
Find out more and please vote – BOE and VC – 3 seats up for each one. Tell your friends and neighbors about what’s happening. This stuff is too important for anyone to sit out.

Gutting the asset that actually creates demand for those $1m+ homes isn’t the answer. Then again, certain Ridgewood families probably don’t value the asset that our schools are because they have chosen not to use them. That would certainly explain their desire to run the schools as cheaply as possible.
So very true, homes under 1 million are selling. When you stop going over 1 million banks get nervous.
Hmmm…
This is a real Head Scratcher.
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Ginormous Garage
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Low Income Housing
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Declining Schools
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Out of Control Taxes
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Implementation of an extreme Socialist Agenda.
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I don’t get it… Who wouldn’t want to move here?
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School is ranked 36th and falling in almost every ranking out there.
The asset needs better oversight because it currently isn’t run well.
Anon – have guts to put your name with your opinion. Don’t be scared.
And incredible as it seems, there are Bernie signs in front of some of them.
You can see any sign around RW just no Trump signs. People are in fear of being called names or dissed by their neighbors. RW is the typical left bastion. That’s why it is going down the drain.
People need to get a set of balls. Do you have your right to freedom of speech. If your friends or your neighbors don’t like it too damn bad move on. That’s why this is the United States of America. Not Russia.
re: “And incredible as it seems, there are Bernie signs in front of some of them.”
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The epitome of :
RICH and STUPID
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Welcome to the current state of Ridgewood…
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