Rising Property Taxes in North Jersey...once again
North Jersey property taxes are on the rise again, reports www.northjersey.com. The typical North Jersey homeowner will pay about $375 more in property taxes over the next year. Tax bills will rise by 5.6 percent in Passaic County.
Local officials said the rise was primarily due to factors out of their control including such things as a significant drop in state aid and other revenue, residents are stuck contributing to a larger share of the cost to run schools and local governments.
In the city of Passaic, where 18 police jobs have been eliminated, residents will see a 12.4 percent hit. Passaic also got $3 million less from the state this year meaning that residents are now allocated to pick up some of that difference.
This year’s tax increase follows a decade during which the region’s property tax bills nearly doubled. From 1999 to 2009, median property tax bills in Bergen and Passaic counties climbed by about 80 percent.
It’s amazing how the state can raise taxes as much as they do. Everyone seems to be struggling to make ends meet and fight the economy yet it’s one road block after another. We can all hope that more reforms are passed to help rein in New Jersey’s tax bills. A 2 percent annual property tax cap is scheduled to go into effect next year which will help North Jersey residents from being faced with such high tax increases.
-Orly
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