Wednesday, June 16, 2010

Summertime, and the Heat is on Taxes

According to the Census Bureau’s 2008 American Community Survey, New Jersey retains the distinction of being number one in median real estate taxes paid. We are far and away the highest in the nation, with a median tax bill of $6,320, 37% higher than Connecticut which comes in second at $4,603.

Even New Hampshire which holds third place at $4,501 still has a far more favorable tax structure, because the Granite State has neither a personal income tax, nor a sales tax.

New Jersey is a great place to live and to bring up kids, despite the decades-long fiscal mismanagement emanating from Trenton. School districts directly contributed to the problem as well, because they doled out multi-year employment contracts without any serious consideration for the adverse long-term effect which those contracts would have on The Garden State’s structurally high real estate taxes.

One of the proposals which Governor Chris Christie has placed before the state legislature is to put a referendum initiative before voters in the November, 2010 elections that will restrict spending increases to 2.5% for local budgets, including those of school districts.

It’s not a panacea, but the measure is overdue. Residents of this state have a right to remain here if they so choose. High taxes should not be forcing people and businesses out. I never heard anyone who came to the mike in recent months to complain about school budget cuts ever mention that issue.

Any community consensus about the level of spending and taxation in Bridgewater and Raritan should acknowledge the fact that we all have a right to a decent life right where we are. Contrary to the popular but over-simplistic mantra which we all heard expressed in recent school budget discussions, it’s not only about the kids.

It’s about all of us. Isn’t that what the values of a community are supposed to reflect – concern for the entire scope of its diverse population? Not merely one element?

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