State's Sluggish Recovery Means More Bad News for Municipalities
Rutgers seminar helps officials understand New Jersey's economic problems, but offers little in the way of fixes -- quick or otherwise.
New Jersey has fared worse than the country at large during the three-year economic recovery, a trend not expected to change anytime soon, making the future challenging for municipal governments. That’s the message municipal officials heard last week at a forum sponsored by the New Jersey State League of Municipalities Educational Foundation. The half-day seminar, held at the Edward J. Bloustein School of Public Policy at Rutgers University in New Brunswick, was designed to help officials understand the economic landscape and consider options for dealing with slow growth. But speakers offered more bad news than solutions. "More people in New Jersey believe in the tooth fairy than that the economic recovery exists," said James Hughes, dean …
skip3house
7:25 am on Sunday, July 15, 2012
As long as property assessments/taxes are proportional to all others in the town, it is fair regardless of assessment amount. All assessments can be in the 65% range (of market value), or any other range, as long as they are about equal so the tax burden is equally shared. County taxes have an 'Equalization Factor', making County taxes adjust to the various town assessment rates so about equal … more ›