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Re: Jersey City mayor-elect orders end to citywide reval
#26
Home away from home
Home away from home


Quote:

Ralph_Abutts wrote:
You do not understand the implication of increasing taxes *radically high* for some overnight.

Those who receive an immediate tax reduction or no reduction from the tax reval, it will be short lived.

In the long run, they will subsequently lose some or all of such savings, permanently, in perpetuity, in the form of a higher tax rate and in turn a larger $ tax bill.



Hopefully, the people who've benefitted from their taxes being 'radically low' will have banked some of their tax savings over that time.

Posted on: Yesterday 16:20
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Re: Jersey City mayor-elect orders end to citywide reval
#27
Not too shy to talk
Not too shy to talk


You do not understand the implication of increasing taxes *radically high* for some overnight.

Those who receive an immediate tax reduction or no reduction from the tax reval, it will be short lived.

In the long run, they will subsequently lose some or all of such savings, permanently, in perpetuity, in the form of a higher tax rate and in turn a larger $ tax bill.


Posted on: Yesterday 16:11
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Re: Jersey City mayor-elect orders end to citywide reval
#28
Home away from home
Home away from home


Quote:

Ralph_Abutts wrote:
Tax lien sales do not happen over night; they happen once a year. Under collecting taxes even in one quarter can put a lot of fiscal strain on a municipality.

And those tax lien properties will eventually successfully appeal their taxes, lowering their tax bill. When they pay less, the rest pay more. And you will pay for the additional Reval-fallout cost of the city reviewing tax appeals, conducting tax lien sales, borrowing funds, etc.

The reval will *shock* real property values in a negative way. The total assessed value of J.C.properties will decrease. That means to maintain the same budgeted dollar amount of total tax revenue, it will result in an increase in the tax RATE for all. And many residents will lose their home to foreclosure.



You are just fear mongering and choosing to turn a blind eye to the flip side of what you predict. Just as some properties will see their value diminish (from an inflated valuation made possible by the unfair taxation in place, btw) there will be properties in other areas of town that will see their valuation rise as their taxes drop.


Posted on: Yesterday 16:10
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Jersey City Police Investigate Overnight Stabbing (1st street and Grove)
#29
Home away from home
Home away from home


Jersey City Police Investigate Overnight Stabbing
May 25, 2016 - 5:23am


An overnight stabbing in Jersey City is under investigation by authorities.

According to reports, the incident happened at around 10:45 p.m. when police were called to the 200 block of 1st Street where they found a male victim bleeding heavily after suffering an apparent stab injury in the side.

The victim was rushed to Jersey City Medical Center where he was listed in serious but stable condition as of late last night.

There were no arrests immediately reported.


https://www.rlsmedia.com/article/jerse ... tigate-overnight-stabbing

Posted on: Yesterday 15:44
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Re: Jersey City mayor-elect orders end to citywide reval
#30
Home away from home
Home away from home


The reval will raise property values in the areas that are now overtaxed (and are more economically disadvantaged). The houses that lose value have been artificially supported by their low taxes over the years.

In any case, almost thirty years of Jersey City mayoral and councils kicking the can down the road will come home to roost-for some good, for some bad. All fair.

Posted on: Yesterday 15:37
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Re: Jersey City mayor-elect orders end to citywide reval
#31
Not too shy to talk
Not too shy to talk


Tax lien sales do not happen over night; they happen once a year. Under collecting taxes even in one quarter can put a lot of fiscal strain on a municipality.

And those tax lien properties will eventually successfully appeal their taxes, lowering their tax bill. When they pay less, the rest pay more. And you will pay for the additional Reval-fallout cost of the city reviewing tax appeals, conducting tax lien sales, borrowing funds, etc.

The reval will *shock* real property values in a negative way. The total assessed value of J.C.properties will decrease. That means to maintain the same budgeted dollar amount of total tax revenue, it will result in an increase in the tax RATE for all. And many residents will lose their home to foreclosure.





Posted on: Yesterday 15:20
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Pest Control
#32
Newbie
Newbie


Looking for recommendations for pest control to have a look at a vacant apartment to determine whether there is a bed bug issue? Does anyone know whether you generally have to pay for this service? Any advice appreciated.

Posted on: Yesterday 15:02
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Re: Privacy fence for nosy neighbors
#33
Not too shy to talk
Not too shy to talk


If you would prefer a company to supply and install it for you rather than DIY it, there are fence companies you can call for estimates.
I had these three come out to my yard. They will measure, show you the catalog of their offerings, and some will write up a proposal on the spot.
-http://www.janfence.com/
-http://www.artisticfencenj.com/
-http://www.bergenfence.com/

I know two people who used Bergen and were happy, they also came in least expensive for me.

If you want something totally custom and out of the box, call some landscaping companies - they may have the ability to design and fabricate something?

Posted on: Yesterday 14:59
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#34
Just can't stay away
Just can't stay away


Totally agree

Posted on: Yesterday 14:51
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#35
Home away from home
Home away from home


And his knowledge of the Faulkner Act is second to none....

Posted on: Yesterday 14:49
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#36
Newbie
Newbie


I think he'll do well. He's a smart guy, no bullshit.

Posted on: Yesterday 14:41
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Re: non resident parking on weekends - rule change?
#37
Home away from home
Home away from home


There are new "no parking" signs that in place extend a good 50' into a block. I can't understand how that excess is necessary, but if you consider that "mid-block" this may be the problem.

Posted on: Yesterday 14:26
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Re: Privacy fence for nosy neighbors
#38
Home away from home
Home away from home



Posted on: Yesterday 14:24
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Re: Fulop proposes giant, regressive gas tax increase
#39
Home away from home
Home away from home


If one accepts that we need to raise revenue as part of the budget equation, it's a no brainer. The gas tax is very low. On top of that we are a pass through state, so much of that tax gets paid by out of state residents. But it's a hot button issue because in this country we believe that cheap gas is an inalienable right.

I also believe, however, that New Jersey (and other states) have to move away from dedicated funds. Yes, there is an intuitive link between a gas tax and transportation funding, but having funds locked into specific funds or projects causes much of our budget problems to begin with. I say that even though I believe in the need for many of the programs that are supported by dedicated funding (specifically transportation and open space).

Posted on: Yesterday 14:15
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#40
Home away from home
Home away from home


Good pick!

Posted on: Yesterday 14:06
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Re: Cycling Clubs around JC
#41
Not too shy to talk
Not too shy to talk


http://www.nycc.org/

Transporting the bike via PATH on the weekend is a breeze or often as I did cycle up to the GW Bridge to meetup with group rides. If you really ingrain yourself in the club you will be taking MetroNorth and NJ Transit to cycle in some really interesting places, too.



Posted on: Yesterday 14:00
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Re: Yvonne Outdoes Herself - Transgender Bathroom Editorial
#42
Home away from home
Home away from home


Governor: Texas Suing Over Obama's Transgender Directive

http://abcnews.go.com/US/wireStory/go ... gender-directive-39370920

Posted on: Yesterday 13:54
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Re: Cycling Clubs around JC
#43
Home away from home
Home away from home


Maybe a good opportunity to start one?

Posted on: Yesterday 13:42
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Cycling Clubs around JC
#44
Newbie
Newbie


Hoping some of you might know of some cycling clubs based in or around JC. I've been looking at various bike shop websites, but I'm not finding much in the area. Any recommendations are appreciated!

Side note: I'm sure there are plenty in NYC, but I don't want to deal with transporting a bike on the PATH.

Posted on: Yesterday 13:33
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#45
Home away from home
Home away from home



agreed, should have been the candidate back in 2013.

Quote:

T-Bird wrote:
Solid choice.

Posted on: Yesterday 13:21
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#46
Home away from home
Home away from home


So now he needs a county job because he must give up his city job.

Posted on: Yesterday 13:19
Top


Re: Jersey City mayor-elect orders end to citywide reval
#47
Home away from home
Home away from home


Quote:

stateaidguy wrote:


When someone does not pay property taxes, a lien is placed on the property. A third party buys the lien, that purchase money goes to the municipality, and then the third party has the right to collect the unpaid property taxes.

The municipality, school district, and county get their money.



There was a time (back when Schundler got elected) when the city couldn't sell some of their tax liens. I remember the city would package 'good' liens with the bad (i.e. combining liens from downtown with Greenville) in order to unload the bad ones to investors.

There was more to it than that.... I just can't recall all the details.

It would take one hell of an economic depression to get back to that level of 'bad' where the city liens became worth less than their face $$ value.

Posted on: Yesterday 13:12
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Re: Yvonne Outdoes Herself - Transgender Bathroom Editorial
#48
Home away from home
Home away from home


Quote:

JSleeze wrote:
UPDATE: My daughter and I were in Target last night. She used the bathroom and wasn't raped. Just thought I'd provide a measure, albeit small, of actual real life experience into the conversation.


Lucky for you, but she has the rest of her life to go to public restrooms and daddy will not be around. I suggest you give her a whistle to place on her key chain in case she encounters trouble.

Posted on: Yesterday 12:57
Top


Privacy fence for nosy neighbors
#49
Quite a regular
Quite a regular


The neighbors are perfectly nice people but a little too nosy for my taste. A privacy fence may be the solution, and it works both ways because I won't have to see all the trash they leave in their backyard.

So I'd like to get started, but don't know how. Who does things like this, a landscape architect? Anyone have any experience with this?

Posted on: Yesterday 12:53
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Re: Jersey City mayor-elect orders end to citywide reval
#50
Just can't stay away
Just can't stay away


Quote:

Ralph_Abutts wrote:
Post reval, the total city tax BILL will remain the same. However, the total amount of tax revenue COLLECTED will decrease. Why?

Because when your taxes go up 4xs, many will not be able to afford to pay and will not pay their tax bill.

Guess who will make up for that revenue shortfall - those whose tax bill initially decreased after the reval as well as everybody else.

Likewise, when real estate prices plummet due to sky rocketed property taxes, those other 400% increase property owners taxes will successfully appeal their assessed valuation. Lower assessed valuation means a lower tax bill for them.

However, the amount of money the city needs to collect in tax revenue to provide essential government services still remains the same.

Again, guess who will make up for that revenue shortfall - all other property owners, including those whose tax bill initially decreased after the reval.

Your assessed value may have decreased, but with property tax defaults/liens and subsequent tax appeals (many), your tax RATE will increase.

That's something to thing about, you know, one step ahead, when the all-at-once reval occurs.


You're right there will be chaos with fluctuating valuations, but when people cannot/do not pay their taxes there is no tax increase for everybody else.

When someone does not pay property taxes, a lien is placed on the property. A third party buys the lien, that purchase money goes to the municipality, and then the third party has the right to collect the unpaid property taxes.

The municipality, school district, and county get their money.

http://www.nolo.com/legal-encyclopedi ... rty-taxes-new-jersey.html


Posted on: Yesterday 12:44
Top


Re: Yvonne Outdoes Herself - Transgender Bathroom Editorial
#51
Home away from home
Home away from home


UPDATE: My daughter and I were in Target last night. She used the bathroom and wasn't raped. Just thought I'd provide a measure, albeit small, of actual real life experience into the conversation.

Posted on: Yesterday 12:35
Top


Re: Fulop proposes giant, regressive gas tax increase
#52
Home away from home
Home away from home


Quote:

brewster wrote:
Quote:

MDM wrote:
I suspect though that if we get a 20% to 40% drop in the S&P 500, this will be the black swan event that will trigger pension defaults (Illinois will probably go first).


Don't you think that given market levels now, a 20% correction is pretty much guaranteed?


I went defensive about 3 months ago and moved the 401ks and the HSA in capital preservation accounts. My financial advisor is a lot less pessimistic than I am though. I think the issues of excessive debt are going to come to a head far sooner than my financial advisor does.

Then again.. I thought the real estate bubble was going to burst in late 2004 / early 2005 at the latest. That crazy train stayed on the tracks a lot longer than I thought it would.

Posted on: Yesterday 12:31
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Re: John Hallanan -Mayor Fulop's Pick for Ward B Councilman Replacement
#53
Home away from home
Home away from home


Solid choice.

Posted on: Yesterday 12:29
Top


Re: Jersey City mayor-elect orders end to citywide reval
#54
Home away from home
Home away from home


Ralh, all the more reason why the city should take things in hand and institutionalize reverse mortgages with a a lien bonding plan as I have previously advocated upthread.

Basically the city would bundle property tax liens and sell bonds based on those liens to create cashflow and allow homeowners to stay in their homes till sale, at which time the lien + interest is settled, just like a reverse mortgage. The advantage of the city doing this is they stay in control, rather than leaving it to homeowners who may or may not be knowledgeable about these things. When people own $1m homes, there's simply no reason taxes can't be paid.

Posted on: Yesterday 12:15
Top


Re: Fulop proposes giant, regressive gas tax increase
#55
Home away from home
Home away from home


Quote:

MDM wrote:
I suspect though that if we get a 20% to 40% drop in the S&P 500, this will be the black swan event that will trigger pension defaults (Illinois will probably go first).


Don't you think that given market levels now, a 20% correction is pretty much guaranteed?

Posted on: Yesterday 12:07
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