|
Re: New Tax Rate is Insane!
|
||||
|---|---|---|---|---|
|
Home away from home
 
|
Quote:
I'm reasonably confident that the revals would cost less, if the city wasn't fighting it tooth and nail. At least 1/3 of the cost was due to the canceled 2011 reval, and legal fees.
Posted on: 2018/2/6 0:43
|
|||
|
||||
|
Re: New Tax Rate is Insane!
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
I for one am concerned that the people who are hit with raises will reinforce the mistake that produced this problem in the first place, and demand no more revals for another 30 years. If anyone has advice on how to convince the city to get on, say, a 5-year schedule, let me know. ;)
Posted on: 2018/2/5 20:15
|
|||
|
||||
|
Re: Rent increases in light of revaluation
|
||||
|---|---|---|---|---|
|
Home away from home
|
Another aspect to consider is how federal tax changes may impact your overall tax bill.
Unlike residential property tax owners, if you are set up as a corporation or some other pass-through entity, you're likely to get a tax break. I suggest you talk to a CPA some time during the year to figure out your likely overall tax liabilities.
Posted on: 2018/1/30 20:03
|
|||
|
||||
|
Re: Just say 'no' to 'millionaires' marina on the south side of Liberty State Park
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Murphy will hopefully / probably kill the deal. The city probably knew the lawsuit would not work, but would delay things until Murphy could act.
Posted on: 2018/1/28 19:55
|
|||
|
||||
|
Re: Legal Weed Is Coming to New Jersey
|
||||
|---|---|---|---|---|
|
Home away from home
|
Murphy is taking steps to expand medical marijuana in NJ.
EO for the NJ Department of Health to take 60 days to figure out how to expand access and lift restrictions: https://www.nytimes.com/2018/01/23/nyr ... ey-medical-marijuana.html Unfortunately, some state legislators are not thrilled with the idea of full recreational access. One such legislator is Brian Stack of Hudson County. They might have the votes, but it likely depends on the composition of the final bill. Guess I need to find the phone number for his office.... http://www.nj.com/politics/index.ssf/ ... already_in_trouble_w.html
Posted on: 2018/1/24 17:28
|
|||
|
||||
|
Re: Is Downtown JC next? Out-Of-Town Drivers Banned From Using Leonia As Shortcut
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
I don't think anyone knows for certain whether it's legal. That would need to be hashed out in the courts. I'm also certain there will be nothing like this in DTJC.
Posted on: 2018/1/22 15:01
|
|||
|
||||
|
Re: Mortal Again: Christie Blocked at VIP Entrance to Newark Airport
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Riiiiight Keep telling yourself that. It had nothing to do with: ? Ignoring NJ in an immediately trashed attempt to run for higher office ? Following Trump around like a lap-dog for a year, in a quickly trashed attempt to land a position in the administration ? He's an arrogant $#@!!, who has no respect for his constituents (Bridgegate, Beachgate, yelling, "Who cares about a blizzard, I'm going to Disneyworld!" etc) I'm pretty sure those are the big ones. BTW I have no problems with an elected official who is looking 3 steps ahead in their career -- as long as they don't neglect their responsibilities in the process, which he clearly did. Oh, and.... ? Killing the ARC Tunnel and ignoring public transit ? Doing his part to wreck NJ's credit rating ? Reneging on promises to fund state pensions ? Working with Obama during Sandy (which I supported, but permanently infuriated many conservatives) ? Botching the follow-through on Sandy ? Blocked medical marijuana ? Raising gas tax (which I actually support, but is not a popular move) He may say he doesn't care, but I'm guessing Guadagno did. Christie's unpopularity certainly contributed to her electoral loss. Quote: But get back to me in a couple years when Murphy costs you all a big chunk of change, because that's a coming down the tracks. Remember Corzine and the annual 5-7% property tax increases? Well, you've got another Goldman Sachs guy who may not do better, but he may do worse. Riiiiiiight First of all, spare us the pre-emptive Whataboutism. Even if Murphy turns out to be another Corzine, that does not in any way justify Christie's massive errors and arrogance. Second, yes fiscal pain tends to happen when your predecessor is fiscally irresponsible. Christie chronically underfunded state pensions; sold off the proceeds for the state lottery for a short-term gain; caused revenue shortfalls with tax cuts; ensured minimal federal infrastructure assistance by illegally seizing ARC Tunnel funds, and using it to fix nearby roads; delayed the tunnel project (which we desperately need) and made it phenomenally more expensive. All of this and more, mostly to try and convince national Republicans that he was a fiscal conservative, and didn't really hug Obama that one time.
Posted on: 2018/1/20 13:54
|
|||
|
||||
|
Re: Mortal Again: Christie Blocked at VIP Entrance to Newark Airport
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Not sure how you missed it, but: Christie is the least popular governor since they started keeping track, 50 years ago. He's leaving with a 13% approval rating. He did a terrible job as governor, most notably screwing over commuters by canceling the ARC Tunnel in a vain attempt to burnish his credentials as a conservative. No one should be surprised in the slightest that NJers are thrilled to get another reminder that the chump is no longer in office.
Posted on: 2018/1/19 19:07
|
|||
|
||||
|
Re: Jersey City has big plans for 100 acres on West Side along Hackensack River
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Well, you are just full of useful information tonight 1) It's right on the river 2) It's walking distance from an HBLR station 3) It's walking distance to the new golf course and Lincoln Park 4) The market rate units will not be cheap 5) Fulop's policy for a few years has pushed for more affordable units in DTJC
Posted on: 2018/1/17 1:42
|
|||
|
||||
|
Re: N.J. to turn 240 acres of Liberty State Park into wildlife oasis
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Strange, because it looks an awful lot like you're advocating for baseball fields, because you're upset that one close to you is controlled by the "JC Baseball Mafia." If anything, it sounds like the solution is not necessarily to build more ballfields, but to improve public access to the ones already in existence. Also, aren't there like 7 baseball fields at Lincoln Park? Are any of those publicly accessible? I also have to reiterate that it seems like any sort of natural green space is incredibly scarce in JC, and Hudson County in general. We aren't living in the NJ Highlands, ya know....
Posted on: 2018/1/12 21:09
|
|||
|
||||
|
Re: N.J. to turn 240 acres of Liberty State Park into wildlife oasis
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Again... Huh? Christie is about to get flushed. There is no indication that the restoration is in any way contingent on the marina construction. They can do one without affecting the other. At best, it may be an 11th hour attempt to mollify critics -- "hey look, more parkland, pay no attention to that stuff on the south side!" If so, then it was completely ineptly done, and doesn't change the facts that a) these projects are independent and b) Murphy is about to take over. Quote: Do you really think the DEP will let the renovation of marina 1 / bulkhead, the construction of marina 2 and this wetlands remediation project all go at the same time? Yes... because there is no reason why they can't, or shouldn't. Quote: You have more faith in the DEP than I do. Interesting the Wetlands project will go out to bid, but the new marina project doesn't. I may be wrong, but I'm pretty sure that's because Suntex already has a deal to operate the northern marina. I'm sure there were other backroom deals, I mean... this is NJ after all. Oh, and the lack of putting the south marina out to bid may be a key component in getting it shot down in the courts.
Posted on: 2018/1/12 20:50
|
|||
|
||||
|
Re: N.J. to turn 240 acres of Liberty State Park into wildlife oasis
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Huh? What does the proposed wetlands have to do with the marina? Who is going to sue to stop the remediation?
Posted on: 2018/1/12 0:37
|
|||
|
||||
|
Re: N.J. to turn 240 acres of Liberty State Park into wildlife oasis
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Huh? Those inland wetlands west of the Hackensack are difficult to access (i.e. you need a boat), or are landfills, or are industrial. They're also spread over what, 10 square miles? Not all wetlands need to be easily accessed to be useful. That said, parkland in Moonachie doesn't do JC residents an awful lot of good. Quote: Here's LSP with Washington Park up on Patterson Plank dropped in. Washington Park has 3 ball fields, a football field, 9 tennis courts, 3 basketball courts, Volleyball court, playgrounds, has several roads running through it, and is still nothing dropped into the LSP "wilderness". So 12 = 3, good to know Don't forget the additional parking. And additional traffic (vehicle and foot). And noise. And ongoing maintenance costs. And how the "Baseball Mafia" will want to take over immediately. All so there will be so much extra capacity that you can play a pickup game? Pass.
Posted on: 2018/1/11 22:32
|
|||
|
||||
|
Re: N.J. to turn 240 acres of Liberty State Park into wildlife oasis
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
You mean, like the huge landfills in North Arlington and Linden? The areas in between Route 3 and the Meadowlands Sports Complex? Quote: I'd love to see a dozen ball fields built on that land then Enos Jones Park could be used for a neighborhood park rather than being owned by the Baseball Mafia. A dozen ballfields? Get thee to a suburb! I for one will pass on that. I'd much rather have a big restored habitat, with public access, than a bunch of ball fields. I'm not holding my breath on this, but am crossing my fingers. ;)
Posted on: 2018/1/11 21:23
|
|||
|
||||
|
Re: PATH (pathetic attempt at transporting humans)
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
It makes a HUGE difference. Even if the trains are packed and take a "whopping" 35 minutes to show up. Try living somewhere like Boston, where the T shuts down between 1AM (!) and 5PM. I assume that's good for maintenance, but kinda sucks if you are out after 1AM.
Posted on: 2018/1/11 3:35
|
|||
|
||||
|
Re: PATH (pathetic attempt at transporting humans)
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
I'm a big believer in regulations, and I usually take off my backpack, even smaller backpacks sometimes. However, codifying that as a regulation would be... kinda nuts. Will PAPD carry tape measures? How are they supposed to write tickets without further clogging up the system? Although it's not perfectly effective, some sort of PR campaign is probably a better plan.
Posted on: 2018/1/11 3:29
|
|||
|
||||
|
Re: Legal Weed Is Coming to New Jersey
|
||||
|---|---|---|---|---|
|
Home away from home
|
Community input, eh? Avoid lawsuits, eh? That should be fun ;)
Posted on: 2018/1/11 3:25
|
|||
|
||||
|
Re: Legal Weed Is Coming to New Jersey
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
That might actually be happening. Congressmen and governors, from both parties, are furious over Sessions' plans to enforce federal marijuana laws. Some are upset over the claim that it violates federalist principles; some because they want to protect a nascent industry that is generating billions in state tax revenues. There are stocks and ETFs for marijuana companies, which obviously took a bit of a hit. Even stocks for legitimate businesses (like Scotts, which makes fertilizer) dropped after Sessions' announcement. While I don't think it will happen any time soon, it seems to me that federal legalization is inevitable. It's already getting too big and too popular to stop.
Posted on: 2018/1/7 0:26
|
|||
|
||||
|
Re: Metropolitan Museum of Art No Longer Taking $1 Admissions
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
FYI, almost all museums keep most of their art in storage. They don't have the room to show most of it. Some works can only be shown for a brief period of time. Some are loaned out to other museums for exhibitions. Adding space, renovating exhibition space, and renting the Breuer building -- which expands the ability to show work -- are major reasons why the Met has financial difficulties right now. By the way, the Met has scanned and put online JPEGs of almost their entire collection. If the work is in the public domain, you can download a high-quality JPEG. Few museums offer that kind of access; IIRC the Met was the first to offer it.
Posted on: 2018/1/5 3:16
|
|||
|
||||
|
Re: Metropolitan Museum of Art No Longer Taking $1 Admissions
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Y'know, I'm not happy about the changes, and I don't think it is a good idea. It sounds like it won't improve revenues all that much, and makes it a less democratic institution. However, that characterization seems a bit absurd. The Met only gets about 10% of its budget from public funds (City of New York). Most of its funds are from private donations and its endowment. In contrast, the Smithsonian is free to everyone, because it gets 60% of its funding from the federal government. Despite the big differences in public funding, the Met has spent decades offering "what you can pay," and arguably could continue the policy. That's not too shabby.
Posted on: 2018/1/5 1:19
|
|||
|
||||
|
Re: PATH (pathetic attempt at transporting humans)
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
All I've been able to find is that it's closed for renovations. They've been saying "open early 2018" from the start. http://www.on-track-on-line.com/forums/index.php?showtopic=71442 https://www.panynj.gov/alerts-advisories/advisories_path.html
Posted on: 2018/1/2 17:32
|
|||
|
||||
|
Re: Man shot dead on Brunswick St in Downtown 1/1/18
|
||||
|---|---|---|---|---|
|
Home away from home
|
Speaking of crime statistics, for 2017, as of 12/28:
20 homicides (down from 24 the previous year) Non-fatal: 105 incidents with 125 victims (about the same as last year -- 106 incidents, 135 victims) Small drops in assaults, robberies Moderate increase (17% in burglaries) Sexual assaults are up (though this may be due to more people reporting assaults, as one might imagine based on this year's events) While is is no comfort to the individual victims, it's a small improvement over last year. http://www.nj.com/hudson/index.ssf/20 ... structuring_are_2017.html
Posted on: 2018/1/2 0:30
|
|||
|
||||
|
Re: Legal Weed Is Coming to New Jersey
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
No.
Posted on: 2017/12/31 17:27
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Given the new IRS guidance, it sounds like it isn't an option for Jersey City residents at all. Guess folks will just have to lump it, or push to change the law.
Posted on: 2017/12/28 20:00
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Sorry, but it won't. The property has to be assessed prior to 2018. Thus, the issue is that they won't let you deduct it for tax year 2017, if you are paying an estimate of 2018's property taxes. Sounds like JC is screwed, because we're in the middle of a reval. https://www.irs.gov/newsroom/irs-advis ... assessed-and-paid-in-2017 Basically, this is what happens when you pass a new tax law at the 11th hour, without clearly explaining what's in the law.
Posted on: 2017/12/28 19:59
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
You heard right. The cap does apply to both individuals and married couples. Thus, this change hurts married couples more than individual filers.
Posted on: 2017/12/28 0:47
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
My understanding is that landlords can set themselves up as pass-throughs. Those corps can also deduct all of their state and property taxes. I believe they've also changed the law so that between 2018 and 2025, property and capital expenses can be fully deducted in the first year. No need to depreciate over 5 years. Obviously, you need to talk to an accountant / tax pro to understand all the implications. It's also going to take them a little time to figure everything out themselves.
Posted on: 2017/12/27 14:58
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
The full quote is: ?While the Republicans in Washington are doing everything they can to hurt working families we are going to do our best to minimize the damage. This will take some procedural changes but those that want to prepay their 2018 taxes we will accept.? Also, last week, Fulop Tweeted: "That republican tax bill is just bad for New Jersey. We are trying all we can do to minimize disruption in near term. This will at least give some an opportunity to still take the SALT deduction" Is he telling everyone to prepay? Nope. He's using the opportunity to bash Republicans while giving some residents a small tax shelter. Note that he is not saying "everyone should do this" or "this benefits everyone," or saying "this is a better use of your money than X." That would certainly be irresponsible. Quote: As for the AMT part of my post, the point that was lost in you is that this is not about AMT in 2018, but AMT for this year! OK, point taken. Still, most people in AMT territory at least have the ability to ask a tax pro whether they should pre-pay, nor is Fulop saying (in very brief statements btw) that everyone should do this, regardless of their tax situation. Quote: If you can afford to prepay 10+ K in property taxes this year, you are likely making enough money to have to pay AMT. In that case, prepaying is entirely a waste. Particularly if you prepay the taxes by taking out money from money market or savings accounts. I'd say that is a stretch. You don't have to pull down six figures to have some cash in the bank. You should also check the interest rates on those money market and savings accounts, as it's pretty close to zero. Literally. Bank of America offers what, 0.6% on its largest savings account? 0.7% on a 12-month CD? MMAs offer rates under 1.5%. E.g. if you put $10k in a MMA today, you'll be lucky to get 1.5%. Over 490 days, you'd earn $200. If you use that to prepay some property tax, and get even a $500 tax benefit out of it, then you've benefitted.
Posted on: 2017/12/27 14:51
|
|||
|
||||
|
Re: pre-paying 2018 taxes
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
I don't see anything irresponsible about it. They're not telling you whether it's a good or bad idea, they're just accepting pre-payments. Quote: My take is that most people in position to be able to prepay taxes is likely earning enough money to get hit with the AMT. FYI, the AMT thresholds will be raised significantly (doubled?) for tax year 2018. Figuring out the precise effects will be... difficult. That said, I can't think of any particular down side to pre-paying your property taxes, as long as you have the cash on hand, and can spare it now to save a few bucks in, uh... April 2019.
Posted on: 2017/12/26 20:17
|
|||
|
||||
|
Re: 2017 Reval ~ Property Inspections
|
||||
|---|---|---|---|---|
|
Home away from home
|
Quote:
Erm... Yes, part of the original plan of this tax reform was to get rid of a bunch of custom tax breaks. The problem is that every single permutation of the tax code has its own constituency, which rabidly defends its perqs.
Posted on: 2017/12/20 2:58
|
|||
|
||||