Contact Us
Make My Homepage

How Much Will Property Taxes Rise? [AUDIO]

In the wake of Superstorm Sandy, no one knows how much property taxes will go up, and where they’ll rise, but state officials are not denying many residents in hard-hit areas will wind up footing at least part of the bill for the destruction caused by the hurricane.

Mario Tama, Getty Images

During a New Jersey Business and Industry Association Policy Forum panel discussion, GOP Assembly Minority Leader John Bramnick said, “All bets are off when you had Sandy- because if you’ve got a tax base that’s reduced quickly, where people’s homes are destroyed, and all of a sudden your tax receipts are going to go down, yes, it’s very possible that towns are going to have to find some revenues…could taxes go up? I’d say maybe- or there may be some bonding needed – most of us are against bonding, but in the short term these downs may to get the revenue…it was an emergency, it was a disaster, and we’re going to have to live with the consequences of that.”

Senate President Steve Sweeney agreed, saying, “Taxes are going to go up in a lot of these communities, they’re going to go up, because there’s millions of dollars being bonded as we speak, for clean-up…hopefully federal money will pay for a lot of this, but the problem is the best you’re going to do is a 90-10 match, so there’s piece that wasn’t budgeted- wasn’t planned for, and it’s going to have to be paid for.”

Members of the panel agreed that more must be done to nudge towns into sharing services.

Senate President Sweeney said his shared services measure, which has been passed by the Upper House, would deny state aid to communities that refuse to share services if it saves taxpayers money.

“We gotta get serious if we wanna fix this state’s economy,” he said. “We pay too much in taxes…we can shrink government, provide the same level of service and cut costs and reduce the tax burden, but it’s change, people hate change: and when you propose it they fight like hell.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!