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Comments

• [1] JJLev from Somerset County July 31, 2007 - 08:57AM

  Why is there a discrepancy or lag between the housing values estimated by lenders against which home "owners" can borrow (to afford those pesky SUV payments?!) -- and housing assessments made by towns? In our area (Somerset County) local property tax assessments are equal to less than 50% of lender assessments.

  To what is this inefficiency due (passive subsidy? Corruption?) and shouldn't landowners expect reassessments to align with those made by banks at some point?

  As percentage of residents living in rentals increase dramatically -- especially in old towns with big homes and weak zoning & planning -- I often wish lawmakers would focus their innovative thinking to more efficient and democratic methods of collecting taxes -- instead of socialist-style temporary-fix handouts to the "Landowner class" who, due to 18th century tradition, pays taxes for schools, etc., on behalf of renters and buyers alike.

  
  
• [2] JJlev July 31, 2007 - 09:08AM

  Also, regarding the above -- as home values drop in NJ in some areas -- wouldn't town's reliance on rising property values to fund public works be enough of a driver to develop new revenue streams (such as sales tax, higher income/corp., biz taxes, renters' tax, etc.)? Is this sort of thought among policy makers evident to the Governor and if so to what end?

  
  
• [3] Nick Lento from NJ July 31, 2007 - 10:17AM

  Brian,

  Please ask Corzine about his pay to pay problems and the campaign finance reform issues.

  That's why the debt exist at all.

  You aren't taking calls on this, so please as some really tough relevant questions.

  Thanks