Lawyers for Atlantic City and the bankrupt Revel Casino Hotel are battling over as much as $30 million that Revel owes for property taxes and penalties.
The Tax Relief for Active Military Service Act – or TRAMS Act – would allow those serving in the military or their spouses to apply for a tax exemption on 10 percent of the assessed value of their homes.
This year, the state did things differently and some homeowners could be missing out on their money.
A property tax revolt is brewing in areas of New York City hard hit by Hurricane Sandy. Residents are crying foul over the city’s decision to raise the assessed value — and the taxes — on homes damaged by the storm.
Mayor Michael Bloomberg announced Thursday that some homeowners will receive an interest free extension from Jan. 1 to April 1.
County officials said the new fee would bring in about $1.6 million, according to Newsday. Entrepreneurs said there should be shared sacrifice during tough fiscal times.
Gov. Chris Christie has signed a budget that keeps New Jersey government humming along through next June, but with a millionaires’ tax and property tax cut still unresolved, the partisan fiscal fight between the governor and the Democrats has spilled into summer.
The Atlantic City Council must get approval from the state Community Affairs Department’s Local Finance Board in order to borrow the money.
Behind the scenes there’s a growing debate over what the vote might mean for a proposed statewide property tax cap.
New Jersey voters were being a bit more generous, one year after they rejected most school budget proposals. According to a published report, the majority of budgets passed Wednesday in elections.
A full, unofficial tally was expected Thursday.
New Jersey voters were not generous when it came to exceeding the new two percent property tax caps in school elections. They rejected increases in 12 of 14 municipalities that had referenda.
New Jersey school budgets and school board candidates will be up for votes in a rare Wednesday election. The school elections were moved to Wednesday so they wouldn’t conflict with Passover this year.
New Jersey Governor Chris Christie received an unusually warm reception at a town hall meeting Wednesday — warm enough to make him blush.
New Jersey’s Local Finance Board agreed Friday to lift the cap on Camden’s property-tax increases. That means the hike, which could raise $4.2 million, would take effect once the City Council approves the municipal budget.
New Jersey Gov. Chris Christie signed a bill on Tuesday that aims to help New Jersey towns control costs and ease property tax increases.