RealEstateRama Laws & Taxes
U.S Representative Bill Pascrell, Jr. (D-NJ-09) and 10 Democratic members of the Ways and Means Committee sent a letter to Internal Revenue Service (IRS) Acting Commissioner David Kautter requesting an explanation for the agency’s decision to create restrictions on the prepayment of 2017 property taxes that are not included in the Tax Cuts and Jobs Act of 2017 (TCJA).
18,000 municipal officials, exhibitors, program participants, and guests are expected to attend the largest annual gathering of municipal officials in the country. The 102nd Annual League of Municipalities Conference will be held at the Atlantic City Convention Center from Tuesday, November 14, through Thursday, November 16.
Assemblyman Dave Rible, the Republican conference leader, plans to introduce a constitutional amendment Thursday prohibiting a repeal of the estate-tax cut after it is fully phased-out on Jan. 1, 2018.
Housing advocates are expressing concern over the current proposal to fund the Transportation Trust Fund. It is estimated that tax cuts under the proposal would create a $1.4 billion budget deficit. Ahead of Friday’s vote in the New Jersey Legislature on the proposal, Network President and Chief Executive Officer Staci Berger issued the following statement
DANCER LEGISLATION MODERNIZES NJ’S SENIOR FREEZE PROGRAM, PROVIDING IMMEDIATE RELIEF BEFORE TAX BILL IS...
Assemblyman Ron Dancer has introduced legislation transforming the state’s senior freeze program, providing more immediate tax savings to senior citizens and reducing costs for New Jersey. Currently, eligible senior and disabled residents are reimbursed for a portion of property taxes paid in the previous year. Under Dancer’s bill (A4106), most qualifying homeowners will receive a credit directly applied to their tax bills for the current year
Assemblyman Jack Ciattarelli (R-Somerset) issued the following statement today: “Direct quotes in a Tuesday POLITICO NJ article seemingly demonstrate corrupted power by leadership of a Trenton special interest that represents over one hundred thousand honest, rank-and-file, middle-class teachers
Assemblyman Jack Ciattarelli issued a statement today on how the renaissance of Jersey City is positive proof of the need for a better way to fund New Jersey schools that is fair to all taxpayers: “Every now and then Jersey City’s mayor will boast of the renaissance in Jersey City, which is indeed great news. Case in point is a recent e-newsletter, in which the mayor said
The New Jersey Business & Industry Association said Wednesday repealing the estate tax must be part of any new legislative compromise on tax fairness. “Those who say the estate tax matters only to the wealthy are dead wrong,” said Michele Siekerka, NJBIA President and CEO. (Click here for NJBIA chart “Estate Tax: Myth vs. Fact.”)
Governor Christie: The people in this state are being driven from this state because of high property taxes. We know that. We also know that children across the state, especially in those 31 districts, are being driven from a productive, happy, successful future by a failed education system. Neither one of those things are acceptable to me. So now you know the governor has put forward what is now called a ‘radical’ school funding plan.
Housing advocates met with New Jersey Senate President Stephen M. Sweeney (pictured center) on the Senate Floor to urge support for greater investment in affordable homes and communities
A critical report on New Jersey’s online municipal tax lien auctions issued Tuesday by the State Commission of Investigation recommended a series of remedies contained in legislation (A2887) introduced by Assemblyman Ron Dancer in February.
Congressman Frank Pallone, Jr. (NJ-06), senior Democrat on the House Energy and Commerce Committee, visited the Rutgers Solar Farm in Piscataway on the 46th Earth Day to address the need for investments in clean energy in New Jersey and throughout the country. Middlesex Freeholder Charlie Kenny, Piscataway Mayor Brian Wahler and representatives from the League of Conservation Voters and Clean Water Action also attended the event
A pair of bills targeting New Jersey’s property tax crisis, sponsored by Assemblyman Jay Webber, advanced from Assembly committees today. A-312 mandates the publishing of comprehensive property tax data on the Division of Local Government Services website, and A-302 provides direct relief for property taxpayers from energy tax receipts.
The Assembly Appropriations Committee today approved Assemblyman Parker Space’s legislation to lessen the burden on property taxpayers by increasing energy tax receipts to municipalities for property tax relief. Space’s bill (A302) requires towns to subtract the additional aid from its adjusted tax levy, benefiting property taxpayers
First Time it is Taking Such Action in 40 Years TRENTON - (RealEstateRama) -- For the first time in four decades, the New Jersey...
The Morris County Board of Freeholders has unanimously endorsed legislation proposed by state Sen. Anthony Bucco and Assembly Members Michael Carroll, Anthony Bucco Jr. and BettyLou DeCroce to allow parents to have free choice in choosing the education for their children.
Legislation (A326/1475) sponsored by Assembly Republicans Michael Patrick Carroll and Anthony M. Bucco, approved today by the State and Local Government Committee, requires a portion of payments-in-lieu-of-taxes to be shared with county government and school districts.
New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Anthony L. Marchetta today announced the award of $31.9 million in federal Low Income Housing Tax Credits (LIHTCs), which will generate $319 million in investment capital to build more than 1,700 rental units across New Jersey.
Assembly Republican Jack Ciattarelli, R-Somerset, Hunterdon, Mercer and Middlesex, said Jersey City losing $80 million in property taxes due to tax abatements is a prime example of how the school funding system is manipulated. A recent news report revealed the lost property taxes.
The Office of the Attorney General and the New Jersey Division of Consumer Affairs have filed an action against ABC Construction NJ, Inc., also known as ABC Construction, LLC and ABC Construction (“ABC Construction”), and its two owner/operators, for failing to complete contracted-for work, performing substandard work, damaging consumers’ homes, and other alleged violations of state law.