Property Tax Woes In New Jersey - My9 New Jersey

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>>

  • Fire Director Gets Off With $206 Fine For Hitting 3 Kids With Car

    Fire Director Gets Off With $206 Fine For Hitting 3 Kids With Car

    Wednesday, August 20 2014 11:53 AM EDT2014-08-20 15:53:43 GMT
    New Brunswick Fire Director Robert Rawls pleaded guilty yesterday to reckless driving after running over and injuring three under-age kids back in May. One kid broke her leg, another suffered a fractured hip and the third walked away with minor injuries. The fire director walked away with a minor fine of just $206. Jocelyn Pelaez was the victim who broke her leg and had to get screws and tubes put in in order to walk again. 
    New Brunswick Fire Director Robert Rawls pleaded guilty yesterday to reckless driving after running over and injuring three under-age kids back in May. One kid broke her leg, another suffered a fractured hip and the third walked away with minor injuries. The fire director walked away with a minor fine of just $206. Jocelyn Pelaez was the victim who broke her leg and had to get screws and tubes put in in order to walk again. 
  • Washington Redskins’ Name-Change Debate Hits Home

    Washington Redskins’ Name-Change Debate Hits Home

    Wednesday, August 20 2014 10:55 AM EDT2014-08-20 14:55:32 GMT
    The debate over whether or not to change the NFL Washington Redskins' name rages on. Some believe its offensive and politically incorrect to refer to Native Americans as “redskins”. Well, now this controversy has become local news in New Jersey and New York after legendary New York Giants quarterback and current announcer Phil Simms said he's going to try to avoid offending people during broadcasts this year and will not use the Redskins name while calling games.
    The debate over whether or not to change the NFL Washington Redskins' name rages on. Some believe its offensive and politically incorrect to refer to Native Americans as “redskins”. Well, now this controversy has become local news in New Jersey and New York after legendary New York Giants quarterback and current announcer Phil Simms said he's going to try to avoid offending people during broadcasts this year and will not use the Redskins name while calling games.
  • NJ Bodybuilding Championships Draw Firm & Fit Physiques

    NJ Bodybuilding Championships Draw Firm & Fit Physiques

    Wednesday, August 20 2014 10:49 AM EDT2014-08-20 14:49:25 GMT
    Michael Freeman won the first bodybuilding contest he ever entered on Saturday at the state championships at Kean University in Union, New Jersey. The win brought him to his knees and he says he's paid the price for this victory. “I definitely sacrificed a lot this year. This is probably the year I've been most focused in my life. And the reason is because I believe in myself,” he said. The championships brought scores of men and women out to the competition.
    Michael Freeman won the first bodybuilding contest he ever entered on Saturday at the state championships at Kean University in Union, New Jersey. The win brought him to his knees and he says he's paid the price for this victory. “I definitely sacrificed a lot this year. This is probably the year I've been most focused in my life. And the reason is because I believe in myself,” he said. The championships brought scores of men and women out to the competition.
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 | New Terms of Service What's new | Ad Choices