Friday, January 05, 2007

Speaking of sane tax policies...

The New Jersey governor, Jon Corzine, together with Senate President Dick Codey and Assembly Speaker Joseph Roberts announced they have agreed to try to enact a 4% cap on property taxes. The league of municipalities has come out against the proposed legislation, because they want to spend your money on their salaries and pensions.

My property taxes have been increasing $1000 per year since 2001, when they jumped $2500 retroactively. That’s a clip of 9.5% to 10% a year. Unless something is done, I will likely pay $1000 a month in property taxes alone this year for my small 4 bedroom house, an amount unheard of outside the New York/New Jersey metropolitan area.

My message to the league of municipalities: “Fuck you! I don’t want to run faster on the treadmill to pay your salary and benefits.” I would leave New Jersey in a heartbeat if I thought I could. If Gov. Corzine can push through this 4% cap, and the 20% property tax reduction (down from 30% in his campaign lies) I may actually be able to afford to stay in New Jersey without being a high muck-a-muck at a bulge-bracket investment bank.

Read the Newark Star Ledger article.


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