Edison, NJ – January 27, 2009 – (RealEstateRama) – A poll released today by the New Jersey Association of REALTORS® (NJAR®) Governmental Research Foundation (GRF), reveals that 40.2 percent of people think reducing taxes and government fees is the most important issue government leaders should work on in the next two years. In addition, a significant number of people (34 percent) believe improving the economy and attracting more jobs to the state is the most important issue facing New Jersey.
Recently, NJAR® GRF commissioned a poll to get a sense of the public’s opinion on critical issues such as taxes, affordable housing and transportation. The poll of 814 randomly selected registered New Jersey voters found people to be focused on the economy and fiscal matters.
The poll found that 52.6 percent of people believe the state is on the wrong track, while only 32.5 percent believe it is headed in the right direction. Nearly 60 percent of people believe the state sales tax to be fair, while 53.9 percent said that state income taxes were too high. Nearly 90 percent of those polled found property taxes in New Jersey to be too high. When asked about the best way to reduce property taxes, 36.3 percent favor consolidation of government services, 26.8 percent favor changing the way schools are funded, 12.8 percent favor reforming the state pension system, and 12.3 percent favor reducing government services.
“It comes as no surprise that right now people are extremely tuned into the economy,” said NJAR® Executive Vice President Jarrod Grasso. “The survey showed that the public remains very concerned about skyrocketing property taxes. It also confirmed what we as REALTORS® already know, a vibrant real estate industry supported by equitable tax policies is the key to a healthy and stable economy. The vast majority (95.5 percent) of people believe that the real estate industry and housing market are important to New Jersey’s overall economy.”
The poll also found that 51 percent of people deem the best way to stimulate the state’s housing market is to reduce real estate related taxes and fees. A considerable number (47.4 percent) of residents support a proposal to eliminate state realty transfer fees. The survey revealed that 86 percent oppose the idea of imposing a local realty transfer fee. In addition, 67 percent oppose the concept of enacting a seasonal rental tax.
“While Governor Corzine and the Legislature took action in recent months to stimulate the state’s lagging economy, more focus needs to be put on revitalizing New Jersey’s real estate industry,” added Grasso. “This poll clearly indicates that the public is supportive of taking steps to do just that, including rolling back the recent increases to the realty transfer fee.”
The survey revealed the public’s opinion on several other critical issues. It showed that 67.4 percent of people oppose raising the gas tax to pay for expanding and improving the state’s transportation infrastructure. The poll also found New Jerseyans prefer (54 percent) creating conditions that give incentives to builders to construct affordable housing rather making polices that require them to do so. With regards to eminent domain, the public opposed (76.7 percent) it being used for the purpose of economic development.
“NJAR® is hopeful this poll will be useful to lawmakers when making policy decisions. It definitely should help them develop a road map on how best to approach the critical issues facing New Jersey,” concluded Grasso.
The poll was conducted by Fallon Research & Communications, Inc. For more data, including a webinar with an in-depth explanation of the poll results, visit www.njar.com/about_njar/grf.
The New Jersey Association of REALTORS®, with approximately 53,000 REALTOR® and REALTOR-ASSOCIATE® members, is one of the largest trade organizations in the state. NJAR®‘s membership is comprised of real estate professionals who subscribe to a strict Code of Ethics and are members of the national and local REALTOR® organizations. As the leading advocate for the real estate industry and private property rights in New Jersey, NJAR® is committed to protecting the dream of homeownership. For more information, please visit www.njar.com.
The NJAR® Governmental Research Foundation (GRF) was formed in 1999 to research issues; to promote knowledge of, conducted research, and assist in issue research in the field of real estate and related fields; and to inform and educate the public on subjects of the public interest and general concern pertaining to real estate, land use and related topics.
