A Quick Reality Check

Try this:

Take your total income and then multiply by 25%.

How would you like that to be your property tax bill?

Now multiply by 50% and then consider that your Property Tax obligation.

Multiply by 75% and send that on to the tax collector.

Absurd? Of course. But that is the reality many home owners face, especially those on fixed, no or low incomes. Why? It is because the Property Tax has nothing to do with one’s ability to pay. Nevertheless, they are being taxed at a rate that is obscene and without regard to neither the emotional nor the financial devastation being wrought.

Here is another eye-opener to consider:

How would you like to have $250 a month left each month after paying your property taxes to cover you all other living expenses? Not enough? Do you think you could make it on $500 each month? How about $1000? Do you think you could afford that car payment or repair, insurances, gas, utilities, medical expenses, food, home repairs, clothing, and all the other little things needed to survive? Forget about eating out or taking a vacation. How would you get along?

Sadly, the tragic truth is that this is or will soon be the crushing reality for thousands of home owners in NJ. These are your neighbors, people who have limited retirement incomes or have been downsized or have a temporary or permanent disability or just are unemployed. Yet they are taxed an inordinate and obscene percentage of their income without regard to ability to pay. And the consequence is that they are left unable to pay for essential living expenses. One day, this might be you.

This example is why the Property Tax is the single most regressive and anti-American Dream tax in existence. The only good use for this tax is to add it to the trash bin of bad ideas.


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