For the folks that feel that people are being unfairly forced out of their homes that are worth 10-fold what they paid for them - what is your suggested alternatives? Should they continue to have lower taxes than those who are newly buying homes? Their houses sit on the same land, the use the same or in many cases more public services and utilities.

There is no happy answer. Property taxes have to be fair an equal and are not based on someone?s personal financial situation - it?s based on the land you own and the share community public resources you consume.

What is happening in Jersey City has and will continue to happen in places all over the country with big cities. It happened in Brooklyn and Hoboken fairly recently, in Harlem and other areas in Manhattan before than, in Long Island City now along with Jersey City. Nobody is being forced out - reverse mortgages will allow nearly anyone who cannot afford the incremental property taxes to pay for those, and when they eventually go to sell their home, it?ll be worth 7-8 fold what they paid for it still. Go to other RE markets .... people are lucky to get 10-20% RE price increases over 5-10 years and 30-50% over 10-20 years. In JC it?s been 400%-1000%.... Folks should be thankful that others have moved in and are willing to pay incredibly high prices for properties around them.

You can?t have your cake with property appreciation and eat it too.