Property Tax Woes In New Jersey - New York News

Property Tax Woes In New Jersey

Posted: Updated:
Hamilton, New Jersey (MY9NJ) - Property taxes have always been a concern amongst New Jersey homeowners. In recent years however, many New Jerseyeans have faced skyrocketing hikes in their property taxes, leaving them wondering where all the extra money is going.

A perfect example of this unfortunate trend is Hamilton native Tony Osmond's property tax predicament. Osmond has lived on Perilli Drive in Hamilton since 1972. Over time, he says his property taxes have gone up from $900 a year to more than $7,000 annually.

"Give me the $7,000 and I'll have the front of my house repaved. I'll get my neighbors together, give us the money for one year, and we'll get together and pave our own street," Osmond said.

It's this kind of frustration that is driving many residents to City Hall to have their properties and taxes reassessed within the community.

In order to get a better understanding of why property taxes are consistently on the rise, Morristown attorney Tom Olsen, who specializes in these appeals, sat down and discussed the various circumstances regarding this issue.

"As costs have risen over the years, and as more and more money needs to be utilized in municipal budgets and school budgets, it has to come from the property tax. It’s really the only way. So that’s why we’ve seen a sharp rise in the amount of property tax that people are paying," Olsen said.

Olsen also noted that although other states rely on more varied income sources, Garden State towns run mainly on property tax income.

With property taxes being as they are, businesses, especially large ones, will appeal their assessments. This appeal however, can get tied up in court and become very expensive. Although the property tax issue seems like an unsolvable problem, many towns like Hamilton Township are doing their own reassessments. For Hamilton, this will be the first reassessment of property taxes in almost 20 years.

Hamilton business administrator John Ricci spoke in depth about reassessments.

"Once you’ve established a true value at today’s market rates, we should see very few tax appeals for a while. That’ll save us money on tax appeal attorneys, on giving money back to taxpayers because they’ve proven their case that their assessments were too high," Ricci said.

As for Tony Osmond, he is retired and old enough that he is trying to get is property taxes frozen. Regardless of what municipality you may live in, the property tax issue within the Garden State is not going away, and it’s the individual municipalities that must take it upon themselves to reassess their individual issues in order to hopefully bring down costs for everyone within the community.


Watch Chasing New Jersey weeknights at 10pm on My9 and don’t forget to like us on Facebook!
  • Chasing New JerseyMore>>

  • Port Authority’s $90 Million Improvement Plan

    Port Authority’s $90 Million Improvement Plan

    Thursday, July 24 2014 10:34 AM EDT2014-07-24 14:34:14 GMT
    At the latest Port Authority board meeting, Executive Director Patrick Foye announced that there are new plans to spend $90 million to improve the bus terminal. The much needed renovations will start by cleaning the bathroom lavatories and improving cellphone and Wi-Fi service throughout the terminal. Recently, commuters have been extremely boisterous about their discontent with Port Authority’s conditions including bus service in and out of the station. 
    At the latest Port Authority board meeting, Executive Director Patrick Foye announced that there are new plans to spend $90 million to improve the bus terminal. The much needed renovations will start by cleaning the bathroom lavatories and improving cellphone and Wi-Fi service throughout the terminal. Recently, commuters have been extremely boisterous about their discontent with Port Authority’s conditions including bus service in and out of the station. 
  • Christie Campaigning For Some Republicans, But Not All

    Christie Campaigning For Some Republicans, But Not All

    Thursday, July 24 2014 10:21 AM EDT2014-07-24 14:21:09 GMT
    On Monday Governor Christie was working on behalf of the Republican Governor’s Association promoting a GOP primary candidate for the gubernatorial race in Connecticut where he was asked if he will also be campaigning for Rob Astorino who will be the Republican candidate running for Governor of New York against current Governor Andrew Cuomo.
    On Monday Governor Christie was working on behalf of the Republican Governor’s Association promoting a GOP primary candidate for the gubernatorial race in Connecticut where he was asked if he will also be campaigning for Rob Astorino who will be the Republican candidate running for Governor of New York against current Governor Andrew Cuomo.
  • StubHub Security Breach

    StubHub Security Breach

    Thursday, July 24 2014 10:20 AM EDT2014-07-24 14:20:32 GMT
    StubHub, which is a website that provides services for buyers and sellers for tickets to sporting events, concerts, and other live entertainment events, has been hacked. StubHub is getting a lot of bad press, but the site is really the victim here. The hackers have hacked accounts from other sites, and then used that information to get into the StubHub accounts.
    StubHub, which is a website that provides services for buyers and sellers for tickets to sporting events, concerts, and other live entertainment events, has been hacked. StubHub is getting a lot of bad press, but the site is really the victim here. The hackers have hacked accounts from other sites, and then used that information to get into the StubHub accounts.
  • Local NewsLocal NewsMore>>

  • SummerStage: you still have time to catch a show

    SummerStage: you still have time to catch a show

    Monday, July 28 2014 10:22 PM EDT2014-07-29 02:22:53 GMT
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
    You've got a few more weeks to enjoy SummerStage, New York's annual performing arts showcase that's 28 years running. But it's not just music: there is dance, comedy, theater, you name it. There are several shows weekly at 14 different parks throughout the five boroughs. A recent show at Rumsey Playfield in Central Park paid tribute to Pete Seeger. Most of the shows are free and are funded by tickets purchased for the some of the bigger acts.
  • NY teacher tenure system faces new legal challenge

    NY teacher tenure system faces new legal challenge

    Monday, July 28 2014 10:14 PM EDT2014-07-29 02:14:16 GMT
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
    An educational advocacy group led by former CNN journalist Campbell Brown is challenging New York state's teacher tenure system, filing a lawsuit Monday that alleges that job protections unfairly shield bad teachers. Seven parents of public school children from New York City and Rochester are the plaintiffs in the lawsuit, filed in Supreme Court in Albany.
  • 2 U.S. marshals, 1 NYPD detective wounded; fugitive killed in Manhattan

    2 U.S. marshals, 1 NYPD detective wounded; fugitive killed in Manhattan

    Monday, July 28 2014 10:10 PM EDT2014-07-29 02:10:52 GMT

    Two deputy U.S. marshals and an NYPD detective were seriously wounded in a shootout with a fugitive sexual assault suspect in the West Village in Manhattan, officials said. The shootout happened in smoke shop called Smoking Culture on West 4th Street near Jones Street.

    Two deputy U.S. marshals and an NYPD detective were seriously wounded in a shootout with a fugitive sexual assault suspect in the West Village in Manhattan, officials said. The shootout happened in smoke shop called Smoking Culture on West 4th Street near Jones Street.


Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices