With 2007 just around the corner, BankRate.com has recommended 7 smart moves for those who have a mortgage or are thinking about getting one.
1. Review your mortgage -- does it still fit your circumstances?
2. Watch out for reset.
3. Don't pay the minimum on an option ARM.
4. When you get a mortgage, shop around.
5. Make an extra payment.
6. Think about getting mortgage insurance instead of a piggyback loan.
7. Be skeptical.
Read the full story...
Friday, December 22, 2006
Saturday, December 16, 2006
Tax Deduction For Mortgage Insurance
The 109th Congress has approved legislation that will make mortgage insurance tax deductible in 2007. This insurance is charged on private and government mortgages if the down payment is less than 20 percent. It is one of those fees that is just throwing money away for the borrower, but required by the lender. Starting in 2007, the mortgage insurance premium can be treated like mortgage interest on your tax return. Full story...
Saturday, December 09, 2006
New Jersey 14th Healthiest State
Reuters.com released the United Health Organizations annual state-by-state report ranking America's health. New Jersey ranked fourteen this year, up one from 2005.
The report weighed such factors as prevalence of obesity, smoking, infectious disease, cardiovascular deaths, infant mortality, child poverty, immunization rates, workplace deaths and auto deaths in determining rankings.
Overall, Americans were healthier in 2006, but continue to lag behind many other nations in infant mortality.
New Jersey's strengths included low percentage of children in poverty, high rate of high school graduation, low prevalence of smoking and low infant mortality rate. Challenges for New Jersey are limited access to prenatal health care and high incidence of infectious diseases.
Minnesota ranked as the healthiest state and Louisiana came in last. Read full report...
The report weighed such factors as prevalence of obesity, smoking, infectious disease, cardiovascular deaths, infant mortality, child poverty, immunization rates, workplace deaths and auto deaths in determining rankings.
Overall, Americans were healthier in 2006, but continue to lag behind many other nations in infant mortality.
New Jersey's strengths included low percentage of children in poverty, high rate of high school graduation, low prevalence of smoking and low infant mortality rate. Challenges for New Jersey are limited access to prenatal health care and high incidence of infectious diseases.
Minnesota ranked as the healthiest state and Louisiana came in last. Read full report...
Friday, December 01, 2006
5 Tips For Selling A Home In A Buyer's Market
For the past few years, seller's have been in control of the real estate market, calling on the shots. All buyer's could do is say, "How high?" With the current transition to a buyer's market, homes are staying on the market longer and buyer's have regained some of their negotiating power.
BankRate.com has a great article for seller's with tips on how to sell in a buyer's market. The tips include:
1. Prepare yourself mentally for what you're about to go through.
2. Get ready for picky buyers.
3. Educate yourself about your neighborhood's real estate market.
4. Hire an inspector.
5. Consider paying the buyer's discount points.
If you are thinking about selling your home, the article is worth a full read! Then visit my website or give me a call. I'm here to help with all your real estate needs.
BankRate.com has a great article for seller's with tips on how to sell in a buyer's market. The tips include:
1. Prepare yourself mentally for what you're about to go through.
2. Get ready for picky buyers.
3. Educate yourself about your neighborhood's real estate market.
4. Hire an inspector.
5. Consider paying the buyer's discount points.
If you are thinking about selling your home, the article is worth a full read! Then visit my website or give me a call. I'm here to help with all your real estate needs.
Sunday, November 26, 2006
Interest Rates At 10 Month Low
Freddie Mac's weekly Primary Mortgage Market Survey reported interest rates to be at their lowest since January, with the average rate at 6.18 percent. This is down from last week's 6.24 percent. Full story...
Friday, November 17, 2006
Top Tips For Selling A Home During The Holidays
Consider potential buyers spiritual backgrounds in your market before decorating for a holiday.
-Minimize holiday decorations to keep focus on your home and its features and benefits.
-Less is more when decorating a home for the holidays while you are trying to sell. Streamline the amount of holiday specific decorations you display.
-Christmas trees and other large holiday decorations consume space that might make rooms appear smaller.
-Install and remove exterior holiday decorations 2 weeks before and after holiday.
-Turn off lighted holiday decorations before showings, buyers should focus on your home and not your decorations.
-If you are having out-of-town house guests, ask your agent to postpone showings until after your guests depart.
-Leave out a plate of home-made holiday treats for potential buyers.
-Display summer photos of home and gardens to inform buyers of the features of the home in other seasons.
-Before showings remove snow, ice and leaves from walkways and driveways. Don't overlook outside entrances to basements, garages, and porches.
-If you plan to close the purchase or sale of a home near a holiday, check with your agent, title, company and lender to verify two business days before closing that they have all the required documents and funds have been wired to complete the transaction.
-If you are closing on your new home, select a mid-week day, early in the day, to schedule your closing time, to accommodate last minute delays by a mortgage loan processor, insurance or title company.
-If you plan to move during the holidays, keep in mind that moving companies will require more notice and could charge additional fees for packing, moving and delivering household goods on week-ends and holidays.
Visit my website for all New Jersey real estate listings, get the current market value of your home and more!
-Minimize holiday decorations to keep focus on your home and its features and benefits.
-Less is more when decorating a home for the holidays while you are trying to sell. Streamline the amount of holiday specific decorations you display.
-Christmas trees and other large holiday decorations consume space that might make rooms appear smaller.
-Install and remove exterior holiday decorations 2 weeks before and after holiday.
-Turn off lighted holiday decorations before showings, buyers should focus on your home and not your decorations.
-If you are having out-of-town house guests, ask your agent to postpone showings until after your guests depart.
-Leave out a plate of home-made holiday treats for potential buyers.
-Display summer photos of home and gardens to inform buyers of the features of the home in other seasons.
-Before showings remove snow, ice and leaves from walkways and driveways. Don't overlook outside entrances to basements, garages, and porches.
-If you plan to close the purchase or sale of a home near a holiday, check with your agent, title, company and lender to verify two business days before closing that they have all the required documents and funds have been wired to complete the transaction.
-If you are closing on your new home, select a mid-week day, early in the day, to schedule your closing time, to accommodate last minute delays by a mortgage loan processor, insurance or title company.
-If you plan to move during the holidays, keep in mind that moving companies will require more notice and could charge additional fees for packing, moving and delivering household goods on week-ends and holidays.
Visit my website for all New Jersey real estate listings, get the current market value of your home and more!
Monday, November 13, 2006
Should You Try to Sell Your Home During the Holiday Season?
A common misconception is that trying to sell a home during the holidays is a bad idea. If you are serious about selling, it can be an excellent time to list. During the holidays buyers are more serious. They have a different motivation like using vacation time to search for property. They're doing that because they have to buy, rather than want to buy. Remember Thanksgiving and Christmas is one day a piece not two months.
10 reasons why you should list your home during the holidays
1. Most November and December buyers are particularly serious and very likely facing some sort of deadline.
2. January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
3. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close escrow by year-end for tax purposes.
4. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
5. Homes show well when decorated for the holidays creating a sense of family and people are much more emotionally drawn to the house, emotion sells.
6. Many people take vacation around the holidays allowing more time to look for a home.
7. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
8. There is plenty of mortgage money available for buyers.
9. Lenders aren't as busy and can process loans faster.
10. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.
visit my website for all New Jersey real estate listings, get the current market value of your home and more!
10 reasons why you should list your home during the holidays
1. Most November and December buyers are particularly serious and very likely facing some sort of deadline.
2. January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
3. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close escrow by year-end for tax purposes.
4. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
5. Homes show well when decorated for the holidays creating a sense of family and people are much more emotionally drawn to the house, emotion sells.
6. Many people take vacation around the holidays allowing more time to look for a home.
7. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
8. There is plenty of mortgage money available for buyers.
9. Lenders aren't as busy and can process loans faster.
10. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.
visit my website for all New Jersey real estate listings, get the current market value of your home and more!
Saturday, October 28, 2006
CLUE Report Alerts Buyers To Damages
A Comprehensive Loss Underwriting Exchange history or CLUE report can help buyers avoid surprises after the deal closes by encouraging buyers to review a home's CLUE report.
Based on claims information submitted by insurers to the CLUE database, the report includes dates, types of claims, and the amount paid for each claim. If the report shows no losses, a home buyer can feel confident that no one has filed a fire, flood, windstorm or other claim against an insurer. However, if a claim has been filed, the buyer will know to take an extra-hard look at the area that was damaged. Also if the report shows that someone has filed a water-based insurance claim for mold, that might be reason enough to move on. A mold claim often makes it difficult for subsequent owners to obtain homeowners insurance. And if they can obtain insurance, it might be extremely expensive.
Only the home owner can obtain a CLUE report, so the buyer will have to ask the seller to purchase one. The report costs $19.50 and can be obtained from the ChoicePoint Web site.
If you would like more information on CLUE reports or are interested in buying a home in central New Jersey, visit my website. Here you can view all real estate listings.
Based on claims information submitted by insurers to the CLUE database, the report includes dates, types of claims, and the amount paid for each claim. If the report shows no losses, a home buyer can feel confident that no one has filed a fire, flood, windstorm or other claim against an insurer. However, if a claim has been filed, the buyer will know to take an extra-hard look at the area that was damaged. Also if the report shows that someone has filed a water-based insurance claim for mold, that might be reason enough to move on. A mold claim often makes it difficult for subsequent owners to obtain homeowners insurance. And if they can obtain insurance, it might be extremely expensive.
Only the home owner can obtain a CLUE report, so the buyer will have to ask the seller to purchase one. The report costs $19.50 and can be obtained from the ChoicePoint Web site.
If you would like more information on CLUE reports or are interested in buying a home in central New Jersey, visit my website. Here you can view all real estate listings.
Friday, October 20, 2006
Small Business Tax Advantages
Today, small business owners can take advantage of accelerated tax depreciation benefits just by purchasing a new Land Rover before December 31, 2006. See your tax advisor to determine if you are eligible for this benefit. Visit landroverusa.com/taxbreak for details.
There are, also, tax advantages to owning your own home. The mortgage interest on your personal residence is tax deductible. Thinking of buying central New Jersey real estate? Visit JackieSafran.com to view all central New Jersey real estate listings.
There are, also, tax advantages to owning your own home. The mortgage interest on your personal residence is tax deductible. Thinking of buying central New Jersey real estate? Visit JackieSafran.com to view all central New Jersey real estate listings.
Saturday, October 14, 2006
Time For Pumpkins & Corn Mazes
October...time to put away the shorts, pull out the sweaters and head to a pumpkin patch or corn maze for an afternoon of fun. Don't know where one is? This link provides you with all the local information.October is also a great time to think about buying or selling a home. visit my website for all New Jersey real estate listings, get the current market value of your home and more!
Friday, October 06, 2006
New Jersey Voting Information
Voting Information
General Election Day will take place on Tuesday, November 7, 2006. This year, the election takes place between voting years for the President of the United States. Therefore, 2006 is known as a “midterm election” year. In New Jersey, the thirteen seats of U.S. Congress and one of the U.S. Senate seats are up for election. The U.S. Senate candidates will be voted upon throughout the state. The U.S. Congressional Representatives will be elected into office by voters in the thirteen Congressional districts in New Jersey. There are also many local races that will take place at county and municipal levels.
Important Dates to Remember for the 2006 General Election:
Last day to register to vote for the 2006 General Election October 17
Absentee ballot applications due by mail October 31
Application deadline for Faxed Overseas Federal Ballot November 3
Absentee ballot applications due in person November 6
General Election Day
(Poll hours: 6:00 a.m. – 8:00 p.m.) November 7
--------------------------------------------------------------------------------
Voter Registration Instructions
In order to register to vote in an election, you must be a United States citizen, at least 18 years old and reside in your county for at least 30 days before the election. Learn more about military and overseas voting.
To register to vote in New Jersey, mail your completed Registration Application to the Commissioners of Registration office in the county where you reside.
Registration deadline - 21 days prior to Election Day (October 17, 2006)
--------------------------------------------------------------------------------
Change of Name/Address
Have you recently moved or changed your name?
Note: The Registration Application form can also be used for name and address changes.
If you’ve moved to a new city or town, you may have moved to a new district.
Find your County Clerk and contact them to check your voting district.
Don’t forget to bring your ID to the polling place!
--------------------------------------------------------------------------------
Applying for an Absentee Ballot
According to the NJ Division of Elections, any New Jersey voter can submit their vote via absentee ballot for any election.
To apply for an absentee ballot, download, print and complete the Absentee Ballot Application. Since an original signature is required, you must mail (7 days before the election) or hand deliver (by 3:00 p.m. on November 6, the day before Election Day) your complete application to the County Clerk.
For more information visit the NJ Division of Elections Absentee Ballot Information Page.
_________________________________
If you are thinking of buying or selling a New Jersey home, visit my website to view all real estate listings, get the current market value of your home and more!
Tags: new jersey voting instructions, new jersey elections, new jersey real estate, new jersey homes for sale, new jersey market value
General Election Day will take place on Tuesday, November 7, 2006. This year, the election takes place between voting years for the President of the United States. Therefore, 2006 is known as a “midterm election” year. In New Jersey, the thirteen seats of U.S. Congress and one of the U.S. Senate seats are up for election. The U.S. Senate candidates will be voted upon throughout the state. The U.S. Congressional Representatives will be elected into office by voters in the thirteen Congressional districts in New Jersey. There are also many local races that will take place at county and municipal levels.
Important Dates to Remember for the 2006 General Election:
Last day to register to vote for the 2006 General Election October 17
Absentee ballot applications due by mail October 31
Application deadline for Faxed Overseas Federal Ballot November 3
Absentee ballot applications due in person November 6
General Election Day
(Poll hours: 6:00 a.m. – 8:00 p.m.) November 7
--------------------------------------------------------------------------------
Voter Registration Instructions
In order to register to vote in an election, you must be a United States citizen, at least 18 years old and reside in your county for at least 30 days before the election. Learn more about military and overseas voting.
To register to vote in New Jersey, mail your completed Registration Application to the Commissioners of Registration office in the county where you reside.
Registration deadline - 21 days prior to Election Day (October 17, 2006)
--------------------------------------------------------------------------------
Change of Name/Address
Have you recently moved or changed your name?
Note: The Registration Application form can also be used for name and address changes.
If you’ve moved to a new city or town, you may have moved to a new district.
Find your County Clerk and contact them to check your voting district.
Don’t forget to bring your ID to the polling place!
--------------------------------------------------------------------------------
Applying for an Absentee Ballot
According to the NJ Division of Elections, any New Jersey voter can submit their vote via absentee ballot for any election.
To apply for an absentee ballot, download, print and complete the Absentee Ballot Application. Since an original signature is required, you must mail (7 days before the election) or hand deliver (by 3:00 p.m. on November 6, the day before Election Day) your complete application to the County Clerk.
For more information visit the NJ Division of Elections Absentee Ballot Information Page.
_________________________________
If you are thinking of buying or selling a New Jersey home, visit my website to view all real estate listings, get the current market value of your home and more!
Tags: new jersey voting instructions, new jersey elections, new jersey real estate, new jersey homes for sale, new jersey market value
Saturday, September 30, 2006
Mortgage Rates Plunge
Last week's signs of a slowing economy caused mortgage interest rates to plunge according to BankRate.com's weekly national mortgage survey. Rates on a 3o year fixed-rate mortgage dropped to 6.29 percent from 6.49 the previous week.
Fall is great time to buy a home. There is more inventory and more homes to choose from. Interest rates are great also. Visit my website to view all New Jersey real estate listings. Then contact me. I'm here to help.
Tags: mortgage rates plunge, new jersey real estate listings
Fall is great time to buy a home. There is more inventory and more homes to choose from. Interest rates are great also. Visit my website to view all New Jersey real estate listings. Then contact me. I'm here to help.
Tags: mortgage rates plunge, new jersey real estate listings
Friday, September 22, 2006
Home Energy Saver
Now that the first day of Fall is upon us, we will be experiencing cooler temperatures and higher energy bills. I found a great website about dedicated to helping you save energy in your home.
This site, Home Energy Saver, is designed to help consumers identify the best ways to save energy in their homes, and find the resources to make the savings happen. You can calculate how much energy and money can be saved with energy efficient appliances. It also calculates heating and cooling consumption. There is a database of state incentives for Renewable Energy, along with state rebates and tax incentives for upgrading insulationto DOE-recommended levels of insulation. As well as, links to over 4,000 electric and gas companies.
If you are interested in saving on energy costs, you will enjoy this site.
Tags: home energy saver, high energy bills, save on utility bills
This site, Home Energy Saver, is designed to help consumers identify the best ways to save energy in their homes, and find the resources to make the savings happen. You can calculate how much energy and money can be saved with energy efficient appliances. It also calculates heating and cooling consumption. There is a database of state incentives for Renewable Energy, along with state rebates and tax incentives for upgrading insulationto DOE-recommended levels of insulation. As well as, links to over 4,000 electric and gas companies.
If you are interested in saving on energy costs, you will enjoy this site.
Tags: home energy saver, high energy bills, save on utility bills
Friday, September 15, 2006
Identity Theft
Identity theft is a serious crime impacting more than 10 million victims each year. Often, consumers first learn they are identity theft victims when they are in the process of buying or renting a home and ruining thier dream of homeownership. The National Association of Realtors is working with the Federal Trade Commission to educate comsumers to minimize the risk of identity theft. This new initiative, Deter-Detect-Defend is focused on empowering consumers to protect themselves against identity and to minimize its impact.
Together, the NAR and FTC hope to educate consumers to take the necessary steps to deter, detect and defend against identity theft and make it more difficult for identity thieves to steal a consumer’s personal information. This will help consumers better protect their credit, and increase the likelihood of realizing their home ownership dreams.
Deter Identity Theft
Consumers can deter identity thieves by safeguarding their personal information.
Detect Identity Theft
Consumers can detect suspicious activity by routinely monitoring their financial accounts and billing statements. Many consumers learn that their identity has been stolen after the damage has been done. The faster consumers detect the theft, the more they can limit the damage.
Defend Against Identity Theft
Consumers should defend against identity theft as soon as they suspect a problem. It’s important to act quickly to minimize the damage.
Tags: identity theft, national association of realtors, federal trade commission, deter-detect-defend
Friday, September 08, 2006
Steps In Buying A Home
Check Credit Rating
Buying a home is an exciting time, full of possibilities and pressures. Starting with some initial preparation and planning will help make the entire process more efficient and less overwhelming.
To start the ball rolling, you should:
Check Your Credit Rating:
Even if you are sure that your credit is excellent, it is wise to check on it at the outset. You'd be surprised how many mistakes are made due to faulty social security numbers, similar names or errors made by retailers. If there is an error, write a letter to the appropriate credit bureau. They are required to assist you in sorting things out and usually take about 30 days.
The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months. AnnualCreditReport.com is the official website to help you obtain your free credit report.
If you have any questions about obtaining your credit report or reading it once you receive it, contact me or visit my website. Here you can view all central New Jersey real estate listings.
Tags: annual credit report, new jersey real estate, central new jersey real estate, central new jersey homes for sale
Buying a home is an exciting time, full of possibilities and pressures. Starting with some initial preparation and planning will help make the entire process more efficient and less overwhelming.
To start the ball rolling, you should:
Check Your Credit Rating:
Even if you are sure that your credit is excellent, it is wise to check on it at the outset. You'd be surprised how many mistakes are made due to faulty social security numbers, similar names or errors made by retailers. If there is an error, write a letter to the appropriate credit bureau. They are required to assist you in sorting things out and usually take about 30 days.
The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months. AnnualCreditReport.com is the official website to help you obtain your free credit report.
If you have any questions about obtaining your credit report or reading it once you receive it, contact me or visit my website. Here you can view all central New Jersey real estate listings.
Tags: annual credit report, new jersey real estate, central new jersey real estate, central new jersey homes for sale
Friday, September 01, 2006
Metuchen Schools Open Sept. 11
The Metuchen School calendar has been revised with the first day of school being Monday, Sept. 11. Teachers will report back, Thursday, Sept. 7.It looks like Labor Day weekend is going to be pretty much of a washout with Ernesto coming through, but Metuchen students will have one more weekend to enjoy in their summer vacation.
With school almost upon us, I thought you might appreciat school related links.
Metuchen School District
School Calendars
Metuchen Adult School
Metuchen Public Library
Jersey Clicks
Homework Center
HomeworkHelp.com
Stay dry this weekend and have a fun and exciting school year!
Tags: metuchen school district, metuchen schools open sept. 11
Thursday, August 24, 2006
BankRate.com Reports Lower Interest Rates
30 year fixed-rate mortgage rates drop.
30 year fixed-rate mortgage rates have dropped for the 5th week in a row according to BankRate.com. Interest rates haven't been this low since the end of March.
If you are thinking of buying a home and want to learn how the lower interest rates effect your buying power, contact me or visit me website. Here you can view all New Jersey real estate listings, get the current market value of your New Jersey home and more!
Tags: bankrate.com reports lower interest rates, rates lowest since end of March, new jersey real estate listings, new jersey home market value
30 year fixed-rate mortgage rates have dropped for the 5th week in a row according to BankRate.com. Interest rates haven't been this low since the end of March.
If you are thinking of buying a home and want to learn how the lower interest rates effect your buying power, contact me or visit me website. Here you can view all New Jersey real estate listings, get the current market value of your New Jersey home and more!
Tags: bankrate.com reports lower interest rates, rates lowest since end of March, new jersey real estate listings, new jersey home market value
Thursday, August 17, 2006
Buyers Benefit From Market Correction
Slower Market Is Good News For Buyers
Just because the bidding wars of the last few years are over doesn't mean it is not a good time to own a home. In fact, the market correction that is taking place and balancing the market between buyers and sellers is good news for both buyers and sellers. Sellers are still seeing their homes appreciate, just not at the double digit rates of the last few years.
Buyers are benefiting the most, however. There is more inventory giving buyers more choices. Buyers also have more time to mull over their home buying decision. They now have time to sleep on a decision and don't have to fear another buyer will snap up their dream home if they don't act, NOW! Buyers, also, have more negotiating power now than in the recent past. It is not uncommon for sellers to pay closing costs, throw in appliances or paying condo or HOA fees.
Interest rates are up slightly, but are still under 7% which is a far cry from any historical highs.
If you are considering buying or selling a home in New Jersey visit my website and contact me to help you get the most out of your transaction.
Tags: slower market benefits buyers, New Jersey market correction, [tagname]
Thursday, August 10, 2006
New Jersey Ranks 13 For Closing Costs
An annual closing cost comparison survey conducted by BankRate.com has ranked New Jersey as 13 in the nation. The survey compared settlement costs from 10 lenders in all 50 states. The average cost for lender, title and settlement costs totaled $3,024. New Jersey's fees to close a loan total $3,158.
New York ranks number one with costs of $3,887 and Missouri came in last with $2,713 in costs. The good news is, New Jersey's 13th place is down from 4th place in 2005.
If you are thinking of buying a home and are interested in getting the lowest settlement costs possible, contact me or visit my website. I will put my expertise to work to help you get the best possible deal!
Tags: BankRate.com, closing costs, loan, mortgage, New Jersey, New York, Missouri, buy, home, settlement
An annual closing cost comparison survey conducted by BankRate.com has ranked New Jersey as 13 in the nation. The survey compared settlement costs from 10 lenders in all 50 states. The average cost for lender, title and settlement costs totaled $3,024. New Jersey's fees to close a loan total $3,158.
New York ranks number one with costs of $3,887 and Missouri came in last with $2,713 in costs. The good news is, New Jersey's 13th place is down from 4th place in 2005.
If you are thinking of buying a home and are interested in getting the lowest settlement costs possible, contact me or visit my website. I will put my expertise to work to help you get the best possible deal!
Tags: BankRate.com, closing costs, loan, mortgage, New Jersey, New York, Missouri, buy, home, settlement
Thursday, August 03, 2006
Getting NJ Property Taxes Undercontrol
New Jersey property taxes are the highest in the nation. New Jersey also has more mucipialities per square mile than any other state with 21 counties and 566 municipal governments.
Many think one way to control propety taxes is to share services. Consolidation and economies of scale would be reflected in real savings.
Pahaquarry Township merged into Hardwick Township in Warren County in 1997, and the state has nearly 700 shared-services programs involving local governments.
In Somerset County, 17 municipalities, 10 school districts and the county government saved $13.6 million last year through shared services. Manville, Bound Brook, Raritan Borough, South Bound Brook and Bridgewater for instance, share a daytime weekday ambulance service.
Politics, bureaucracy and a desire by residents to have their own schools and communities are reasons that consolidation isn't more widespread.
Elected officials are wary of proposing forced consolidation, and residents have often been hesitant to support it.
What do you think?
_______________________________
Thinking of buying or selling a home in Central New Jersey? Visit my website to view all real estate listings, get the current value of your home, free reports and more!
Tags: taxes, property taxes, New Jersey, buy, sell,listings, real estate, Jackie Safran, buyer, seller
New Jersey property taxes are the highest in the nation. New Jersey also has more mucipialities per square mile than any other state with 21 counties and 566 municipal governments.
Many think one way to control propety taxes is to share services. Consolidation and economies of scale would be reflected in real savings.
Pahaquarry Township merged into Hardwick Township in Warren County in 1997, and the state has nearly 700 shared-services programs involving local governments.
In Somerset County, 17 municipalities, 10 school districts and the county government saved $13.6 million last year through shared services. Manville, Bound Brook, Raritan Borough, South Bound Brook and Bridgewater for instance, share a daytime weekday ambulance service.
Politics, bureaucracy and a desire by residents to have their own schools and communities are reasons that consolidation isn't more widespread.
Elected officials are wary of proposing forced consolidation, and residents have often been hesitant to support it.
What do you think?
_______________________________
Thinking of buying or selling a home in Central New Jersey? Visit my website to view all real estate listings, get the current value of your home, free reports and more!
Tags: taxes, property taxes, New Jersey, buy, sell,listings, real estate, Jackie Safran, buyer, seller
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