| Author |
Message |
    
Nakaille
| | Posted on Friday, March 9, 2001 - 1:44 pm: |     |
"Assembly clears break on pensions, taxes
03/09/01
BY TOM HESTER
STAR-LEDGER STAFF
Legislation that will lower property taxes $150 million statewide by reducing the amount cities and towns pay toward police and firefighter pensions was approved 77-0 by the Assembly yesterday.
The measure, which acting Gov. Donald T. DiFrancesco is prepared to sign, requires that the savings be put toward lowering property taxes and not spent by local government...."
The figure quoted for Maplewood was approximately $414,000. Now here's my question since our recently departed/promoted friend Christy was infamous for playing fast and loose with state pension monies. Where is that $150 million going to come from now? We've already seen drops in the pension "surplus" due to stock market falls. Sorry to have to turn the coin over on the good news, but...
Bacata |
Njjoseph
| | Posted on Friday, March 9, 2001 - 2:35 pm: | |
Even so, with 7500 homes in Maplewood, that amounts to an average of $55 per home. It's not going to save anybody from those (several) thousand dollar increases. |
Nakaille
| | Posted on Friday, March 9, 2001 - 2:56 pm: | |
Right, Njjoseph, and that is precisely the problem with so many of these highly touted "tax cuts". The actual impact on individual families is rather small. On the other hand, pooling that money for the good of the community by better funding of Medicare (at the federal level) etc. yields a much larger return for all.
Thanks for making my argument against tax cuts for me.
Bacata |
Gerardryan
| | Posted on Friday, March 9, 2001 - 2:58 pm: | |
$414,000 in extra revenue represents about two tax points, or .02% of assessed valuation.
This announcement represents a 2 point reduction in the Township's introduced budget.
Yay! |
Joancrystal
| | Posted on Friday, March 9, 2001 - 5:34 pm: | |
Every little bit helps. Now if we could just get a few more bills like this one passed.... |
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