RealEstateRama Laws & Taxes
Legislation sponsored by Assembly Republicans Robert Auth and Rob Clifton to consolidate oversight of local governments and discard unnecessary state mandates was approved by the General Assembly today.
New Jersey Business & Industry Association President and CEO Michele Siekerka today urged the Legislature to reject the so-called millionaire’s tax at a press conference attended by statewide business organizations and state legislators
Despite already having the highest taxes in the nation, the New Jersey Assembly Appropriations Committee approved several bills earlier this week that will cost taxpayers more than $15 million. “I cannot understand how the majority party can continue to add more and more to the taxpayers’ burden when we cannot keep up with our current obligations,” said Assemblyman John DiMaio (R-23), Republican Appropriations Officer.
U.S. Senators Bob Menendez and Cory Booker today announced that the Community Loan Fund of New Jersey, Inc., CCG Partners, LLC, and the Reinvestment Fund, Inc. have been awarded a total of $170 million through the Community Development Financial Institutions (CDFI) New Markets Tax Credit Program (NMTC) to attract private investment and spur economic activity in low income communities throughout the state. This federal tax credit helps to fill project financing gaps by enabling investors to make larger investments than would otherwise be possible.
Congressman Frank Pallone, Jr. (NJ-06) announced a $50 million award for tax credits from the U.S. Treasury Department to New Jersey Community Capital, which is located in New Brunswick. The funds, which will be used by New Jersey Community Capital to award tax credits to investors in projects, are aimed at stimulating economic growth in low-income urban neighborhoods and rural communities.
Acting Attorney General John J. Hoffman announced that a mortgage broker from Jersey City was sentenced to state prison today for laundering the proceeds of a criminal scheme in which he conspired to steal more than $1.2 million from lenders by filing fraudulent mortgage applications, diverting mortgage proceeds and falsifying settlement statements.
Assembly Republican Budget Officer Declan O’Scanlon, R-Monmouth, released this statement after discussions during today’s Assembly Budget Hearing regarding the volatility of the state’s gross income tax (GIT) and its impact on the state budget
“Property taxpayers shouldn’t be socked to make up the difference when big companies leave New Jersey over higher taxes and costs,” said Schepisi. “We have to put the breaks on these built in tax hikes to protect the residents and businesses that are staying to help us rebuild our economy.”
The bill, A-1286/S-2439 allows school districts to establish a special account using federal dollars to offset the loss of property taxes from federal property. At the same time, it prevents the state from reducing education aid because of the federal funds
The Division on Civil Rights announced today that a Hudson County landlord has paid $8,000 to an African-American woman to resolve allegations that she unlawfully discriminated by telling the woman, who had contacted her about renting an apartment, that she would not rent to African-Americans or Hispanics.
The Yonkers Industrial Development Agency gave final approval today to a plan that returns a tax delinquent and condemned apartment house on Morris Street to taxpaying status, providing housing for 18 tenants in the future.
Assembly Republican Whip Scott Rumana, R-Bergen, Essex, Morris and Passaic, responded today to Democrat Assembly Majority Leader Louis Greenwald’s statement this weekend in the Star-Ledger that Republicans weren’t interested in participating in a bipartisan panel on property taxes
Assembly Republican Budget Officer Declan O’Scanlon, R-Monmouth, issued the following statement following Sunday’s news report Assembly Republicans have no interest in participating in a bipartisan panel on property tax reform
The Morris County Freeholders, for the third consecutive year, have adopted a budget with a zero percent increase in county taxes, while maintaining critical services for county residents.
To provide property tax relief to the hard-hit South Jersey region, Assembly Republican Sam Fiocchi has sponsored legislation to return unexpended grant money from the Casino Reinvestment Development Authority (CRDA) to Atlantic County.
Acting Attorney General John J. Hoffman and the New Jersey Division of Consumer Affairs continued the commemoration of National Consumer Protection Week with advice for consumers on hiring a home improvement contractor or home elevation contractor.
MetLife Home Loans LLC has agreed to pay the United States $123.5 million to resolve allegations that MetLife Bank N.A. (MetLife Bank) violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements, the Justice Department announced today
TRENTON – The Superstorm Sandy Blue Acres Program has completed 107 closings on Sandy-damaged homes in Sayreville and South River, and is moving towards the first home purchases this spring and early summer in Woodbridge, East Brunswick and Newark, Department of Environmental Protection Commissioner Bob Martin announced today
WASHINGTON, D.C. - April 18, 2014 - (RealEstateRama) -- Assembly Deputy Republican Leader Anthony M. Bucco said he is pleased to hear of the support for repealing the estate and realty transfer taxes which lead New Jersey residents to leave the state for a more tax-friendly climate. Bucco sponsors two bills in the Assembly (A-397 and A-389) that address both issues which he has sponsored in the previous legislative session as wel
WASHINGTON, D.C. - April 15, 2014 - (RealEstateRama) -- Today is the final day for filing federal and state income taxes. Assembly Republican Leader Jon Bramnick said the deadline is a reminder that reducing the tax burden should be the highest priority for legislators