New Jersey - The 'Taxation' State
The Gannett Newspaper chain is running an 8 day series of articles on how New Jersey's property taxes hurt the residents of the 'Garden State'. The key topics on the first day of the series, published on 27 September 2009, started with multiple reasons for the "Tax Crush":
1. Reason 1 - Minority, poorer areas hit hardest - property taxes are not inheritently 'fair' taxes (though in my opinion there areny't too many taxes that are 'fair') because people with land but without sufficient income are taxed the same way as people with land AND sufficient income. The result is that the poor earners are eventually kicked off 'their' land, even if there is no mortgage on the land, because of tax liens. The STATES taxes them into debt and then seizes their land.
2. Reason 2 - Economic drains as some leave NJ - An exflux of longtime residents, businesses, and retirees from NJ to more tax, business, and retirement friendly destinations even if slight means that in the long run those remaining (for various reasons) get to pay more taxes to support the BLOATED local, county, and state government bureacracy in New Jersey.
3. Reason 3 - Costly Education Fuels Divisions - the multitude of municipalities, laws and regulations preventing consolidation and efficient government, rich pension plans, and funding education through property taxes means that the 591 school districts need LOTS of cash - an average of $12,738 per pupil!
4. Reason 4 - Too many layers of government - Bureacracy, Bureacracy, etc...... equal higher and higher taxes (of all kinds)...
5. Reason 5 - Special tax breaks for farmland, woods - large estates pay little in taxes because they sell some trees ($500 dollars worth per year) using a tax break meant to preserve actual 'farms'.
..........................
New Jersey leads the way - unfortunately!
Tax Foundation's 2010 Business Rankings
Five major areas rated:
1. Property Taxes - 50 out of 50 (dead last!)
2. Income Taxes (state) - 47 out of 50!
3. Corporate Income Taxes - 41 out of 50!
4. Sales Taxes - 38 out of 50!
5. Unemployment Insurance Taxes - 25 out of 50 (in the middle of the pack)
Forbe's Best States of Business Rankings:
1. Business costs - 49 out of 50!
2. Regulatory Environment - 47 out of 50!
3. Economic Climate - 44 out of 50!
1. Reason 1 - Minority, poorer areas hit hardest - property taxes are not inheritently 'fair' taxes (though in my opinion there areny't too many taxes that are 'fair') because people with land but without sufficient income are taxed the same way as people with land AND sufficient income. The result is that the poor earners are eventually kicked off 'their' land, even if there is no mortgage on the land, because of tax liens. The STATES taxes them into debt and then seizes their land.
2. Reason 2 - Economic drains as some leave NJ - An exflux of longtime residents, businesses, and retirees from NJ to more tax, business, and retirement friendly destinations even if slight means that in the long run those remaining (for various reasons) get to pay more taxes to support the BLOATED local, county, and state government bureacracy in New Jersey.
4. Reason 4 - Too many layers of government - Bureacracy, Bureacracy, etc...... equal higher and higher taxes (of all kinds)...
5. Reason 5 - Special tax breaks for farmland, woods - large estates pay little in taxes because they sell some trees ($500 dollars worth per year) using a tax break meant to preserve actual 'farms'.
..........................
New Jersey leads the way - unfortunately!
Tax Foundation's 2010 Business Rankings
Five major areas rated:
1. Property Taxes - 50 out of 50 (dead last!)
2. Income Taxes (state) - 47 out of 50!
3. Corporate Income Taxes - 41 out of 50!
4. Sales Taxes - 38 out of 50!
5. Unemployment Insurance Taxes - 25 out of 50 (in the middle of the pack)
Forbe's Best States of Business Rankings:
1. Business costs - 49 out of 50!
2. Regulatory Environment - 47 out of 50!
3. Economic Climate - 44 out of 50!
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