Re: New Tax Rate is Insane!
Posted by bodhipooh on 2018/3/13 10:38:10
Fair point, Bodhi. And your estimate is a fair compromise with the state.
It will be interesting to see how this plays out. Trenton is not known for being swift, so any changes to school funding could take a long time, and the topic itself is fraught with so much politics that it will be a small miracle to see any meaningful changes. As such, JC may dodge a bullet for a while. Hard to tell how hard other municipalities will react to our "low" rate. Logic would tell you that they would be up in arms immediately but, as the expression goes, politics makes for strange bedfellows.
The promised second reval could prove tricky, or even treacherous, for Fulop if school funding changes are forced, as the JC homeowners will end up with even higher taxes, and people have a hard time understanding the finer points and will likely not be very forgiving if the overall levies go up, even if the city administration is not at fault. Also, expiring abatements over the next few years may push up tax levies if those properties are paying higher PILOTs today than regular taxes.
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