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Senate Democrats to Talk Tax Relief at Town Hall in Teaneck

Weinberg, Sweeney to discuss property tax relief for the middle class.

Senate President Steve Sweeney and Majority Leader Loretta Weinberg will hold a town hall meeting at Teaneck’s Society Thursday night to discuss property tax relief for New Jersey's middle class.

Democrats unveiled a proposal earlier this year that would reduce the property tax burden of state residents earning less than $250,000 a year by 10 percent, according to a news release. Renters would receive $200 per year after a full phase in of their plan.

“Our previous town halls have been successful because we have been able to share information and hear concerns in a civil and courteous manner, even when there was disagreement. These meetings have become a great way to provide details on our plan and to hear directly from the public on what they think and what is impacting their lives,” Weinberg said in the release.

“Under the plan, a family earning the state's median income of $69,811 with property taxes at the state average of $7,758.20 would save $775.82 under the Senate proposal,” the release said. “Under the governor's proposed income tax scheme, they would save just $97.78; meanwhile a millionaire would get a $7,265.75 tax break and those earning $3 million would save $25,200 a year.”

The town hall will be begin at 7 p.m. at 687 Larch Avenue in Teaneck, Thursday May 10.

 

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DMAB6395 May 11, 2012 at 02:17 AM
I don't care how they do it-just reduce our property taxes. We pay the highest property taxes for spit of land. I'm serious we have postage stamp sized lots(at least in my neighborhood). I could go to Cape May buy a huge freakin' house & the property tax is 1/2 of what I am paying up here. If it wasn't for the fact that my husband grew up in this house we would move.
JAD May 11, 2012 at 02:20 AM
You can appeal your taxed value if you feel it's over assessed. We did for two consecutive years and had the value reduced both times and are now within a realistic ballpark.
DMAB6395 May 11, 2012 at 02:42 AM
JAD-not to sound dumb but who did you see about doing this? Do they charge you for it?
JAD May 11, 2012 at 03:04 AM
No worries, it's not dumb at all. I'd never have known until I moved from a state I thought had high taxes into a state that truly does have ridiculous taxes. We paid a couple of hundred out of pocket to have our home reassessed and to have appropriate comp analysis pulled for out property. Our old neighbor happens to do this so we were able to go through him but I'm assuming most real estate appraisers would be able to do this. You can pull the comps yourself if you wanted but I found it was MUCH easier to have our assessor do it as he was far better versed on what a true comp would be to our home as well as keeping them within the right radius. There is a fee with the county tax office that is dependent on your homes assessed value. I want to say ours was either 50 or 100 dollars (I'm swaying more towards the $50 ball park but it has been over a year). That was all we spent out of pocket but it reduced our assessed value over 100k so well worth it in the end for us and we'll more make up what we paid.
DMAB6395 May 11, 2012 at 07:03 AM
JAD~ Thanks for the info I'll have to show this to my husband & get one done. Again thanks!!!!

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