“North Jersey property taxes rise an average 4%” plus 2 more |
- North Jersey property taxes rise an average 4%
- Property tax to be stamped out
- Baldwin County property tax appeals complete
| North Jersey property taxes rise an average 4% Posted: 12 Mar 2011 07:01 AM PST Property tax bills in New Jersey increased by 4 percent on average statewide in 2010 — and rose slightly higher in North Jersey — during Governor Christie's first year in office.  RECORD FILE ILLUSTRATION The average property tax bill in North Jersey grew to a record $9,258 in 2010, up 4.4 percent above last year's average, according to property tax data released Friday by the New Jersey Department of Community Affairs. Bergen County once again had the highest average property tax bills in the state last year at $10,057, up from $9,735 in 2009. Alpine, at $17,622, and Tenafly, at $17,476, had the highest average tax bills in Bergen County in 2010. The average tax bill in Passaic County in 2010 was $8,459, up from $8,009 in 2009. Wayne, at $10,417, and North Haledon, at $9,292, had the highest average bills in Passaic County last year. The average 2010 property tax bills in both Bergen and Passaic counties surpassed the statewide average of $7,576 for 2010. The statewide average rose by 4.1 percent over the 2009 average of $7,281. The year-to-year statewide increase between 2010 and 2009 outpaced the 3.3 percent rise in property tax bills from 2008 to 2009. And although property taxes have been rising for years in New Jersey, the rate of increase had been steadily decreasing for the past several years prior to 2010. Christie, a Republican who won the 2009 gubernatorial election promising to reduce taxes and cut government spending, spent much of his first year in office working on the state's property tax problem. The governor enacted a 2 percent cap on local property tax increases and urged the Democratic-controlled Legislature to pass a series of local government reform bills, including legislation signed into law in late 2010 that changed the interest arbitration rules for police and firefighter labor contracts. But Christie eliminated, for 2010, the property tax rebate checks that had long been used by Trenton politicians to offset high property tax bills, and he cut state aid to schools and towns — local governments that levy property taxes — in his first budget. And the 2 percent cap on local property tax hikes didn't go into effect until Jan. 1, and also excluded several rising local government costs. In all, total local government spending declined marginally in 2010, something state Department of Community Affairs Commissioner Lori Grifa said shows Christie's efforts are working. The reduction in spending at the local government level shows the Christie administration's efforts to reduce the way municipalities, school districts and counties operate are leading to quantifiable results, she said. "We are slowly, but capably laying a foundation for an affordable and prosperous New Jersey." But Democrats said that the decline in local government spending in 2010 had more to do with Christie's cuts in state aid for schools and towns. "At least now we can stop the ridiculous myth that Governor Christie didn't raise taxes," said Assembly Majority Leader Joe Cryan, D-Union. "It's now a proven fact that Governor Christie gave New Jerseyans their highest property tax increase since 2007." Property tax bills in New Jersey increased by 4 percent on average statewide in 2010 — and rose slightly higher in North Jersey — during Governor Christie's first year in office. The average property tax bill in North Jersey grew to a record $9,258 in 2010, up 4.4 percent above last year's average, according to property tax data released Friday by the New Jersey Department of Community Affairs. Bergen County once again had the highest average property tax bills in the state last year at $10,057, up from $9,735 in 2009. Alpine, at $17,622, and Tenafly, at $17,476, had the highest average tax bills in Bergen County in 2010. The average tax bill in Passaic County in 2010 was $8,459, up from $8,009 in 2009. Wayne, at $10,417, and North Haledon, at $9,292, had the highest average bills in Passaic County last year. The average 2010 property tax bills in both Bergen and Passaic counties surpassed the statewide average of $7,576 for 2010. The statewide average rose by 4.1 percent over the 2009 average of $7,281. The year-to-year statewide increase between 2010 and 2009 outpaced the 3.3 percent rise in property tax bills from 2008 to 2009. And although property taxes have been rising for years in New Jersey, the rate of increase had been steadily decreasing for the past several years prior to 2010. Christie, a Republican who won the 2009 gubernatorial election promising to reduce taxes and cut government spending, spent much of his first year in office working on the state's property tax problem. The governor enacted a 2 percent cap on local property tax increases and urged the Democratic-controlled Legislature to pass a series of local government reform bills, including legislation signed into law in late 2010 that changed the interest arbitration rules for police and firefighter labor contracts. But Christie eliminated, for 2010, the property tax rebate checks that had long been used by Trenton politicians to offset high property tax bills, and he cut state aid to schools and towns — local governments that levy property taxes — in his first budget. And the 2 percent cap on local property tax hikes didn't go into effect until Jan. 1, and also excluded several rising local government costs. In all, total local government spending declined marginally in 2010, something state Department of Community Affairs Commissioner Lori Grifa said shows Christie's efforts are working. The reduction in spending at the local government level shows the Christie administration's efforts to reduce the way municipalities, school districts and counties operate are leading to quantifiable results, she said. "We are slowly, but capably laying a foundation for an affordable and prosperous New Jersey." But Democrats said that the decline in local government spending in 2010 had more to do with Christie's cuts in state aid for schools and towns. "At least now we can stop the ridiculous myth that Governor Christie didn't raise taxes," said Assembly Majority Leader Joe Cryan, D-Union. "It's now a proven fact that Governor Christie gave New Jerseyans their highest property tax increase since 2007." This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Property tax to be stamped out Posted: 12 Mar 2011 06:01 AM PST IN HIS SIGHTS: Treasurer Andrew Fraser describes stamp duty as a "relic". Source: The Courier-Mail ONE of Queensland's most despised taxes could be axed to save homebuyers tens of thousands of dollars. Homebuyers have paid more than $12 billion in stamp duty since 2006 but the State Government yesterday said it should be dumped. Treasurer Andrew Fraser described stamp duty as a "relic" and an "inefficient" tax. He said it would be at the top of the state's "hit list" at a federal tax summit later this year. Federal Treasurer Wayne Swan refused to comment, but housing and real estate groups have welcomed the move. Homebuyers have to pay about $20,000 stamp duty up-front for a property bought for $550,000, and more than $33,000 for a property worth $900,000. Mr Fraser told The Sunday Mail he could not lift the burden from homebuyers until Canberra reformed the tax system, but he hoped stamp duty could be abolished within five years. "It can't be done without trade-offs, and it can't be done without reform at a federal level," Mr Fraser said. "If the constitutional forefathers were sitting around the table (working out the tax system) . . . they wouldn't consider stamp duty." Queensland's Housing Industry of Australia executive director Warwick Temby said scrapping stamp duty would help make home ownership more affordable. "It (stamp duty) puts an enormous burden on people who want to move houses," Mr Temby said. He said some older people stayed in their homes too long because they knew that downgrading would mean paying stamp duty and other costs. Real Estate Institute of Queensland acting chief executive Ian Murray said stamp duty was a disincentive for investors and scrapping the tax would help bring more rental properties on the market. In "protected" documents provided to Mr Swan after the 2010 election, Treasury's Red Book argued for state tax reform, including the dumping of stamp duty. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Baldwin County property tax appeals complete Posted: 11 Mar 2011 01:50 PM PST BAY MINETTE, Ala. — The Baldwin County Board of Equalization adjourned Tuesday after hearing about 1,200 tax appeals from property owners, but significant changes are not expected in the $128 million in tax bills which will be mailed Oct. 1, according to Baldwin County Revenue Commissioner Teddy Faust. Commission staffers now are preparing to begin property assessment for the 2011 tax year, which will include determining property values for oil-contaminated coastal parcels. Valuation notices mailed in June reflected an 8.5 percent decline in property values, and devaluation of 20 percent or more in coastal areas, Faust said. Roughly 3,500 appeals were generated by the valuation notices and most were resolved in informal hearings, bypassing the BOE. Faust said a final abstract will be available next week. "We do not anticipate a significant change from the preliminary abstract, but we have asked the county budget department to allow a 3 percent variation due to appeals," Faust said. Tax bills will be mailed Oct. 1 and become delinquent after Dec. 31. Beginning Oct. 1, county appraisers will begin routine yearly assessment of properties for the 2011 tax billing. They also will attempt to measure coastal market value losses related to the BP oil spill. State Attorney General Troy King asked Faust in a May 12 memo to assist in evaluating lost revenue due to the oil spill. The evidence will be used in presenting claims to BP. Faust earlier said the review will include loss of revenue on rental properties, cost associated with oil cleanup and wide-ranging market activities. "I have no idea if BP is paying for property damage," Faust said Wednesday. "Our goal will be to reflect market value as of Oct. 1. "Issues such as oil or the economy are important factors and it will be extremely difficult to determine how or if they have had an impact on market value." Faust said market value data from September will be closely analyzed in the evaluation process. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| You are subscribed to email updates from property tax - Yahoo! News Search Results To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment