What Do Property Taxes Pay For

County property taxes, or any other tax for that matter, while unpopular, are an essential source of revenue to county and/or state governments. The property taxes you pay help pay for essential community services.

Each taxing authority, whether local or state, continually strives to update the its county property tax appraisal ratios based on current market values. Their objective is to maintain tax equalization on residential and commercial property located within their taxing
jurisdictions.


Most county governments are dependent on property taxes for their income. Accordingly, the property taxes that are levied can and do vary a great deal from county government to county government.

Perhaps, paying county property taxes is unpopular, because we feel we don’t have any choice; as we perceive these taxes are forced upon us. However, we have made a choice to become a citizen of the particular community within the county. As such, we do receive a lot
of valuable services in return.

In the county in which I reside, property taxes make up approximately 34% of the total revenue reported by the county.

While there may be some variation in the services that that property taxes provide, I receive the following benefits from the taxes I pay:

Ø Police protection and emergency response;
Ø Fire protection and emergency response;
Ø Storm water runoff;
Ø 911 Emergency service;
Ø Maintenance of streets, traffic control, sidewalks and curbs;
Ø Snow removal;
Ø Wireless telephone;
Ø Emergency family assistance and housing funds;
Ø Access to low-cost mental health services;
Ø Parks and recreational facilities;
Ø Activity programs for senior citizens;
Ø Central and neighborhood libraries;
Ø Wastewater treatment; and last but not least,
Ø The office space and administration of these services

How many of these services do you take for granted? How many people does it take to provide these services 24/7? Each one is entitled to receive his/her fair wage, just like you and me.

Property taxes help pay for essential community services. Let’s change our attitude about property taxes levied by our local government and think of them as membership fees assessed by a large co-op. There are many people pay fees into co-ops and Homeowner associations to receive several benefits they provide. They rightly treat them as the cost
of day-to-day essentials.
By: 2anewlife4u

Article Directory: http://www.articledashboard.com

I write under the penname2 and write blog articles based on the experience and wisdom I have gained throughout my adult life. I publish a weekly blog: www.2anewlife4u.blogspot.com which has an international audience in addition to my website: www.real-life-online-opportunities.com which features several collections of Self Improvement Ebooks.


Several Areas You Can Protest Your Property Taxes

Several Areas You Can Protest Your Property Taxes-There are a lot of people alive who would rather imagine negotiating as an talent form instead of a science given that it requires special abilities for it to work. The skills to be superior at negotiating are things that you have to develop in order for you to be a excellent negotiator. This is why you ought to leave the negotiating to those folks who have made an skill out of it so that they can negotiate for you and have pleasing results. They will not have to do the negotiating for the minor things but will instead negotiate about more important things which will bring you plenty of benefits in the long run.

If you take the time to approach the correct people and discuss with them about property tax reductions and also property tax appeals, you could be doing yourself a big favor and reducing on your expenses as well. If you consider it, your property taxes might be where a lot of your money goes and imagine how much money you’ll manage to save if you can get the help of people who will halp you in reducing our property tax bills? If you happen to be thinking about this, you should visit folks who know the laws very well. For those individuals who live in the Texas area, you may find such a business that handles property tax reduction and property tax appeal cases extremely well. They will be the ones to lend you a helping hand so that you can prepare all the required paperwork that you’ll be required to present to thrid party agwncies that may scrutinize these documents so that they are going to know what to do with your property tax appeal.


Not only does this well established company have expertise in the Texas area, but it also has various affiliates all through out the nation so that it is possible to seek help from them even if you are not from Texas. Everyone knows that each state has laws that are its own and these firms will make double sure that they can help you might have your property tax reduced while not brealing any laws that may get you in trouble. It is all very cut and dried, if you’d like that your property taxes get smaller, then you will have to make it a poi nt and make sure that they approve your property tax appeal. So that you may increase your chances, go ahead and acquire the help of folks who know their way around these things and they may do their best to scale back your property taxes when you are in Houston Texas and also out of HOuston Texas.
By: Andrew Cullin

Article Directory: http://www.articledashboard.com

Mattox, Terrell & Associates, Inc. is a property tax firm dedicated to the property owner – our client. Service specialities include: All Types of Property Tax Appeals and Property Tax Reduction, Protests, Negotiations, Renditions, Filings & Exemptions.


The If you or interested in buying or sell a property go to www.Wbcpropertytaxsolutions.com

Tips for Finding States With Low Property Taxes – Real Estate – Property Investment

Tips for Finding States With Low Property Taxes   by Randy Bett
in Real Estate / Property Investment    (submitted 2011-11-04)





Local taxes
All municipalities need to raise taxes to fund the services that they provide. Such services include provision of schools and education, sanitation, hospitals, and infrastructure such as roads etc. Some municipalities will lump all taxes due into a single tax assessment, but others levy each tax separately. The most common taxes are indicated below.
1. Property taxes – An annual tax based on the assessed value of your property estimated not more than six months before the property taxation year. Property tax is intended to pay for services such as schools, roads, hospitals, etc. provided by the municipal government.
The property tax due on residential property is calculated by multiplying the “mill rate” – which is usually set annually -and the assessed value of the property and the building(s) on it. A homeowner’s grant may be deductable from the gross assessed tax in many provinces, but this is applicable to a principal residence only and not to investment property. The amount of grant will depend on the age of the homeowner.
In case you think the amount of property tax is overstated because the assessment of the property value has been set too high, you have the right to appeal. This situation could arise in the case of a downturn in the local property market as the assessments will lag behind market values (having been done several months earlier). Your accountant and real estate professional would be able to advise you in this case.
2. Utility taxes – These taxes are intended to pay for specific services such as water supply, refuse collection, sewerage and so on.
Further information concerning local taxes may be obtained from your lawyer, the local city hall, or the regional assessment authority.
Provincial taxes
The primary provincial tax that impacts real estate investments is the property purchase tax. The assessment is done at the time you purchase a property and it should be paid at the time of purchase. Each province in Canada has its own formula for calculating the amount of tax payable but all methods use the purchase price as the basis.
Information on provincial taxes may be obtained from your lawyer or the branch of the land titles office in your province.
Federal taxes
The two main federal taxes levied in Canada are the Goods and Services Tax and Income Tax.
Goods and Services Tax (GST)
The GST is levied on all transactions that “supply” residential or commercial property, although certain supply transactions may be exempt according to specifications defined in the legislation.
“Supply” in this case broadly covers the sale, lease, transfer, exchange, barter and gift of real property. The GST is also applicable to many services related to real estate transactions.
The GST system
GST is initially paid by the purchaser of goods (property) or services to the vendor. The vendor, in turn, remits the tax to Revenue Canada, Customs and Excise Division. GST may be included in the asking price or added to it as a separate component. The current GST tax rate is 5%; this rate is not fixed by law and may be changed any time. Your accountant should be able to inform you of any changes and the impact on your investment.
A purchaser needs to pay GST, but you may be entitled to a partial rebate of the tax, or offset any paid amounts against received amounts of GST tax. This entitlement would depend on whether the property purchased is intended for use as a principal residence, for investment, or for inventory in a business that buys and sells properties
About the Author
Randy Bett is an Author, Investment Realtor and a Professional Real Estate Investor (along with his Wife and Family) with a Passion for Showing and Teaching Others How to Get Involved in the Real Estate Investing. He has a Special FREE Offer for Newbie and Veteran Investors Alike- 57 Real Estate Investing Video Tips, including What Your Financial Planner is Not Telling You about Investing in Real Estate, Why Most Real Estate Investors Fail, and When to Invest in Real Estate and The Strategies to Use, among many others.Go to our main site.


Use and distribution of this article is subject to our Publisher Guidelines
whereby the original author’s information and copyright must be included.

Three Property Tax Policy Options For New Jersey

Here are three property tax policy options for New Jersey citizens and government leader to consider. They are presented in an easy to read format; namely the statement of a problem that property taxpayer’s face in New Jersey, followed by a policy option and its principal pro and con argument.

PROBLEM: TAXPAYERS HAVE NO CONTROL OVER HIGH PROPERTY TAXES THAT CAN LEAD TO HOME FORECLOSURE AND THE NUMBER OF HOMES FORECLOSED DUE TO FAILURE TO PAY PROPERTY TAXES IS UNKNOWN.

POLICY OPTION: Introduce a bill directing the Superior Court to require that foreclosure complaints contain a statement as to whether the property subject to tax lien foreclosure was residential and if the property was owned by a senior citizen or permanently and totally disabled person.

Pro: The extent of the number of tax lien foreclosure collections on residential properties, particularly those of senior citizens and disabled, could be counted to promote the idea of a moritorium on homeowner property tax forelosures.

Con: Additional work would be required of municipal governments and third party tax lien holders in the filing of a foreclosure complaint statement.

PROBLEM: OFTEN PROPERTY TAXPAYERS ASSERT THAT THE LOCAL PROPERTY TAX SHOULD NOT BE USED TO FUND PUBLIC EDUCATION, WHILE ALSO BEING OPPOSED TO NEW STATE TAXES OR LOSS OF STATE SERVICES.

POLICY OPTION: Introduce a concurrent resolution proposing an amendment to Article VIII, Section I of the New Jersey State Constitution to permit, through a voter referendum process, the local voters of a school district, to replace real property taxes imposed for school purposes with a local tax on the income of individuals, estates, trusts, corporations and unincorporated businesses. The income tax rates permitted would be within the income tax limits established in the local referendum question and would be collected on behalf of school districts by the State. The authority to levy a tax on real property would be reserved solely for the purpose of providing security for any debt lawfully incurred, to protect the borrowing capability of the school district.

Pro: A tax on income rather than on real property eliminates the regressive nature of the incidence of the property tax for school purposes and establishes tax liabilities for school purposes not by real property values in the market place, but by money income — a truer measurement of wealth and ability to pay.

Con: This amendment represents a fundamental change in the measurement of wealth and the consequent assumed ability to pay taxes for public schools and as such could cause valuation disruption in the established real estate market. Also, such a tax system has the potential for wide fluctuations in the taxable income base (income is mobile and property is not) that could necessitate large cuts in school services or steep income tax rate increases.

PROBLEM: LOCAL PROPERTY TAXPAYERS HAVE NO INFORMATION ON THEIR PROPERTY TAX BILL WITH WHICH TO EVALUATE MUNICIPAL, COUNTY AND SCHOOL SPENDING, SUPPORTED WITH STATE AND LOCAL TAXES, AND ITS TAX RATE IMPACT ON THEIR PROPERTY’S VALUE.

POLICY OPTION: Introduce a bill requiring each municipal tax collector to include in the annual mailing of individual tax bills each year tax year a statement containing a tabulation in a columnar format with explanatory information of the effect of State aid on local tax rates by purpose of tax based on a report sent to each tax collector by the State Treasurer.

Pro: This bill would enable each property taxpayer to determine the effect State aid amounts have on reducing his or her local property tax rates by purpose of tax.

Con: Municipalities may complain that this constitutes a State mandated cost that should be paid for by the State.

The Double Whammy in Texas – Lower Home Values Higher Property Taxes

Texas real estate owners today are caught in a costly paradox: as property values decline, the county tax assessor’s office paints a far rosier picture. Home sales are flat, yet property taxes continue to rise. Visit the local county tax assessor’s office and most likely you will see large blowups of articles raving about the robust Texas economy and housing market – useful information if your task happens to be convincing homeowners to accept, and pay, the yearly tax increase!

The reality is the state’s need for continued, increasing revenue. Since Texas does not collect income taxes from its citizens, the state’s greatest source for income is property taxes. This revenue funds fundamental programs like schools, and city governance and maintenance. In most counties the tax rate is about 3% of the retail price of your home, which would probably make sense if that percentage corresponded to the rise and fall of the actual market. In fact, most states collect the appropriate property taxes at a moderate rate of increase each year.

Not so in Texas. Texans have some of the highest property taxes of any state in the union. And they increase every year, as you know, in spite of the fact that your neighbor’s “for sale” sign has faded and become part of the scenery in front of his desperately low priced home.

Homeowners who live in their Texas homes and who claim a homestead exemption will plausibly see continued increases in their property taxes, no matter what the actual market is doing. Increases of up to 10% per year are not uncommon. And if that doesn’t get your attention, a few consecutive years of such an increase probably will. It happens every year, even when the economy is soft. Homeowners can easily be swept along in this rising tide of ever increasing taxes of they do not protest their tax assessments. As each year passes, the tax increases compound.

A recent CNNMoney.com article by Les Christie, sites this particular problem and discusses the surge in homeowner requests for lower tax assessments — especially in states which have enjoyed significant real property value increases over the past decade. Now that the economy is universally in decline, more tax payers are contesting their property assessments, and rightly so. Yet, city and county budgets are equally strained. Therefore, learning how to fight your property taxes now will improve the likelihood of actually obtaining a lower rate when the next opportunity comes.

An Achievable Battle

Less than 7% of all homeowners protest their property taxes. Most believe that they probably won’t win, or that their home’s value is about the same as everyone else’s. Many homeowners simply don’t know how to go about it or where to start. Some folks assume the hassle will prove overwhelming compared to the tax relief they may get.

In truth, fighting your property taxes with the county tax assessor takes very little time, and your dispute could save you tens of thousands of dollars when spread out over the time you own your home. The smart homeowner can gain ground on this escalating problem by tackling it as soon as possible, for tax decreases you might obtain could take awhile to have an effect, since they are simply canceling out the years your artificially inflated taxes went uncontested. In any case, the money that you can put back in your pocket with the next tax cycle will certainly justify your investment of time and effort. It just makes sense to start this year.

Research Your Options

The property owners who have been successful in lowering their taxes will tell you to make use of the internet. Start with a Google search for Texas property taxes, or Texas property tax help. Study up on the information available and then prepare to collect some vital statistics.

Organize and Document
o Check your current tax records. Ensure that the square footage of your property is correct. Recently a Texas resident provided blueprints of his house to correct past years’ miscalculations, to the tune of over $700 for each year! That one correction alone ensured significantly lower taxes for that homeowner, proving it’s wise to look over your existing tax documents.
o Compare your taxes with your neighbors’ property taxes. Understand the local tax climate. For all you know, you could be paying much more than them; this information will work to your benefit.
o Make sure you have all the paperwork you need for your hearing. Keep organized files of your ground work.
o Be sure to file for a protest! You have several weeks to do so following receipt of your property tax assessment, but you must file before May 31st. If you do not have the form, contact your county office or visit http:/www.propertytax-help.com/forms.html. After mailing your request you must then go to the county tax assessor to file your informal request.

Keep it Up!

The bad news: Expect your taxes to start creeping back up if you miss even one year disputing them. Texas real estate owners really do themselves a disservice by NOT staying on top of their rising property tax situation, so you’ll need to gear up for an annual trip to the county tax assessor.

The good news: Experts agree that most people can cut half of their increased value with just a few tricks and things to do while at their appraisal hearing. But you have to keep doing the yearly legwork or your taxes will continue to increase. If you devote more time in really understanding the issue, and commit to doing just a little more work, you’re savings could be substantial.

Texas Property Tax Loans – A Solution For Delinquent Residential Commercial Property Taxe

Recommendations Of Dallas Texas 1997 Property Tax Commission

Recommendations Of Dallas Texas 1997 Property Tax Commission that through August 2, 2001 have been enacted by law or by regulation and those which have had just bills introduced.

Governor Whitman asked the Property Tax Commission she created in 1997 to study the property tax problem in Dallas texas and offer recommendations that would help county, school, and municipal officials ease the burden of property taxes on New Jersey residents.

The 60 specific recommendations of the Commission are listed in summary form below. Following the specific recommendation is a citation to the law, regulation or bill that followed or a statement that (No law, regulation or bill has been forthcoming).

It appears that after the 60 recommendations of the Governor’s Property Tax Commission were issued in September of 1998, 11 recommendations had one or more bills introduced to implement them, 6 recommendations were implemented by Executive Order No. 88, and one recommendation was implemented by a constitutional amendment.

Chapter I

1.1 Enact legislation that would allow municipal governments in urban aid-qualified communities to levy a parking, entertainment, or hotel room tax for the purpose of providing direct tax relief to property taxpayers.

(No law, regulation or bill has been forthcoming).

Chapter II

2.1 Establish a State program of financial assistance and incentives to encourage local governments and school districts to consolidate, regionalize, and implement new joint services.

P.L.1999, c.60, Regional Efficiency Aid Program (REDI). This program assists local governments and school districts with the study and implementation of shared service agreements and consolidation efforts.

2.2 Link any program of incentives and financial assistance for consolidation, regionalization, and shared services directly to providing property tax relief for the communities’ residents.

P.L.1999, c.61, Regional Efficiency Aid Program (REAP). This program provides property tax credits directly to residents in those taxing districts that have implemented regionalization and other cost saving measures.

2.3 Continue funding for the Joint Service Incentive Grant Program, which provides “seed money” to study or implement consolidation, and regional and shared service programs.

The last time the “Joint Services Incentive Aid” grant program was funded in the State Budget was for $500,000 in FY 2000.

2.4 Amend current statutes to provide, at local option, that in instances of shared or merged services involving police, firefighters, and teachers, all contractual matters shall be subject to renegotiation with the shared/merged service provider.

(No law, regulation or bill has been forthcoming).

2.5 Permit locally funded early retirement incentives or added pension credit programs for newly consolidated municipalities or new interlocal service programs.

P.L.1999, c.59, Permits local units to offer retirement or termination incentives to certain employees affected by regionalization of services.

2.6 Permit local units to “opt out” of Civil Service for purposes of interlocal and shared service programs.

A-258 of 00-01, Permits counties and municipalities to withdraw from civil service for purposes of interlocal and shared service programs.

2.7 Direct all State agencies to conduct a review of their rules and program requirements to identify those that restrict local shared efforts or cooperative activity.

Executive Order 88.

2.8 Administratively provide that appointment of a joint municipal court judge shall be by the Governor based upon nominations made by the municipalities operating the joint municipal court.

(No law, regulation or bill has been forthcoming).

2.9 Enact legislation to permit county governments and approved local cooperative pricing systems to establish programs similar to the State’s open-ended contracts.

(No law, regulation or bill has been forthcoming).

2.10 Provide clear statutory authority for counties to serve as facilitators of intermunicipal joint service efforts. Along with legislative authority, provide limited financial assistance to help counties establish offices of shared service facilitation.

(No law, regulation or bill has been forthcoming).

2.11 Statutorily require regular (at least annual) meetings between the governing bodies of adjoining municipalities, and between municipal officials and those of local school districts, authorities, and fire districts to discuss cost- saving efforts and possible shared services.

A-544 of 2000, Provides for annual meetings between school boards and municipal governing bodies to discuss finances.

2.12 Direct State agencies, including the Local Government Budget Review Program, to make personnel available upon request to assist local officials with planning new interlocal activities and evaluating the feasibility of shared service programs.

Executive Order 88.

2.13 Encourage local governments and school districts to make greater use of public-private efforts and the services available from non-profit organizations to help develop and implement regional and shared service efforts.

(No law, regulation or bill has been forthcoming).

2.14 Establish a statutory budget cap exemption for interlocal service agreements. Provide a positive cap base adjustment to reflect a fixed amount of the interlocal appropriation as an inducement to establish shared service programs.

(No law, regulation or bill has been forthcoming).

2.15 Revise the local budget law to permit budget transfers at any time during the budget year to fund new interlocal service agreements.

(No law, regulation or bill has been forthcoming).

2.16 Assume the costs of the county prosecutors’ offices and the costs of providing court facilities, including construction costs.

S-505 of 00-01, Requires State to reimburse counties for costs of county prosecutors offices.

A-1360 of 00-01, State assumption of county prosecutorial office costs.

S-2220 and A-3450 of 00-01, Creates the judicial and prosecutorial facilities construction assistance act.

2.17 Permit additional membership representation from participants in joint meetings established under the Consolidated Municipal Services Act, N.J.S.A. 40:48B.

P.L.1999, c.58, Facilities consolidation of municipalities and municipal services.

2.18 Condition financial assistance or State aid upon participation in shared or regional service activities.

P.L.1999, Chapter 156, Concerns special municipal aid and extraordinary municipal aid and conditions aid, in part, on a municipality’s opting for shared or regionalized services.

2.19 Amend the Municipal Consolidation Act to reduce the number of petition signatures.

P.L.1999, Chapter 58, implements recommendations of Property Tax Commission.

2.20 Amend the Municipal Consolidation Act to permit the creation of a municipal consolidation study commission by ordinance of the local governing bodies without the need for a ratifying referendum in each municipality

P.L.1999, Chapter 58, implements recommendations of Property Tax Commission.

2.21 Amend the Municipal Consolidation Act to lengthen the time allotted for filing the study commission’s final report to at least no later than Labor Day (rather than nine months after the election of the consolidation study commission). Consideration should be given to provide for a permissive extension (up to a maximum of one year), if desired by the commission.

P.L.1999, Chapter 58, implements recommendations of Property Tax Commission.

2.22 Eliminate the commission’s six month preliminary report and the Department of Community Affairs’ eight month evaluative review of that report.

P.L.1999, Chapter 58, implements recommendations of Property Tax Commission.

Chapter III

3.1 Implement the recommendations of the New Jersey Regionalization Advisory Panel’s January, 1998 report.

(No law, regulation or bill has been forthcoming).

3.2 Revise the funding mechanism for regional school districts to eliminate cost inequities and permit equal sharing of the benefits and cost savings possible from regionalization.

A-511 and S-128 of 00-01, Provides supplemental State aid to certain regional school district constituent municipalities to offset any tax increase associated with regionalization.

3.3 Direct the Commissioner of Education to develop a program to maintain and enhance local control of individual schools when districts regionalize.

(No law, regulation or bill has been forthcoming).

3.4 Keep authority and control over certain school-related functions now exercised by the local boards of education at the sub-regional level when school districts regionalize.

(No law, regulation or bill has been forthcoming).

3.5 Direct the Commissioner of Education to develop regional and shared service models for administrative and support functions.

Executive Order 88.

3.6 Conduct studies to identify and develop models of shared administrative and management positions.

Executive Order 88.

3.7 Help the county superintendents’ offices facilitate efforts to implement inter-district and joint pupil transportation services.

(No law, regulation or bill has been forthcoming).

3.8 Direct the Department of Education and the Department of Community Affairs to work jointly to encourage interlocal efforts between school districts and municipalities.

Executive Order 88.

3.9 Research and study current use of shared and regional approaches to general education and administrative services by local districts to identify suitable models.

Executive Order 88.

3.10 Help increase parents’ and residents’ involvement in the educational process and the affairs of neighborhood schools.

(No law, regulation or bill has been forthcoming).

Chapter IV

4.1 Prepare a guidebook for municipalities and counties to determine the true costs and benefits of development, including an “Economic Analysis Worksheet” and techniques for implementation.

(No law, regulation or bill has been forthcoming).

4.2 Provide planning board members with tools for understanding the costs and benefits of development and land preservation and provide financial and technical assistance to strengthen local planning.

(No law, regulation or bill has been forthcoming).

4.3 Enable municipalities to enact “timed growth” ordinances that advance the State Plan, as a tool to control property taxes.

A-426 and S-601 and A-3269 of 00-01, Authorizes timed-growth ordinances under “Municipal Land Use Law.”

A-3269 and S-496 of 00-01, Authorizes adoption of timed-growth ordinances by municipalities.

4.4 Support the use of impact fees to mitigate the cost of new development by providing additional revenue for schools, emergency services, and parks in areas that promote compact development.

A-1712 of 00-01, Authorizes assessment of development impact fees by municipalities.

4.5 Support the State Plan’s use by municipalities, counties, and State agencies as a means of holding down property taxes.

(No law, regulation or bill has been forthcoming), but DCA indicates it supports the State Plan’s use by municipalities, counties, and State agencies as a means of holding down property taxes.

4.6 Amend Council on Affordable Housing (COAH) regulations to ensure that practices do not initiate a development cycle or a ratables chase. For the next allocation cycle, develop COAH formula consistent with the State Plan.

(No law, regulation or bill has been forthcoming).

4.7 Support state funding for transportation, including mass transit, that meets local and regional needs.

A. Bills Introduced

1998-1999 session:

A 2330 Motor fuels tax, increase for transportation purposes

A 2404 Petroleum gross receipt tax – Transportation Trust Fund

ACR96 Motor vehicle fuels tax – dedicate for transportation funding

ACR124 Transportation funding – dedicate 1/2 cent sales tax

S1255 Motor fuels tax, increase for transportation purposes

SCR64 Motor vehicle fuels tax – dedicate for transportation funding

SCR65 Motor fuels tax- repair State transportation system

SCR67 Motor vehicle fuels tax – dedicate for transportation funding

A2984 County road project – eliminate State permit fee

A3628 State transportation system, improve local bridges

S1610 Statewide Transportation and Local Bridge Bond Act

S1745 County road project – eliminate State permit fee

S1848 Traffic control signals – DOT bear cost

S2295 State transportation system, improve local bridges

A95 Expand definition of Circle of Mobility

S161 Expand definition of Circle of Mobility

S194 NJT Corp., DOT property in lieu of tax payment

A2343 Transportation Trust Fund Authority – increase spending cap

A3567 Creates Local Bond Authority

S1609 Transportation Trust Fund Authority – increase spending cap

2000-2001 session:

A1673 Statewide Transportation; local bridge funds; $205 million

A2348 Transportation Trust Fund projects – concerns revenues

A2541 21st Century Transportation Trust Fund Extension

A2586 Congestions Relief/Transportation Trust Fund Act

A2715 Transportation Trust Fund Authority – concerns fund use

A3010 Amends definition of Circle of Mobility

A3188 Transportation Project Capital Fund – establish

A3350 Transportation district – concerns congestion relief

ACR18 Petroleum gross receipts tax – fund transportation

ACR40 Transportation funding – dedicate 1/2 cent of sales tax

ACR115 Petroleum product tax – dedicate to transportation

S26 Motor fuels tax, increase for transportation purposes

S705 Traffic control signals – DOT bear cost

S1488 Expand definition of Circle of Mobility

SCR7 Motor vehicle fuels tax – dedicate for transportation funding

SCR35 Motor vehicle fuels tax – repair State transportation system

A444 Create Highway Corridor Redevelopment Zone Comm.

A785 County road project – eliminate State permit fee

A2587 1999 Statewide Transportation/Local Bridge Fund; $150 million

A3181 Road repair grants – State, county, mun.; $45 million

A3286 Statewide Transportation, local bridge fund; $145 million

A3496 Local Bridge Bond Act of 2001

S813 State transportation system, improve local bridges

S1528 1999 Statewide Transportation/Local Bridge Fund; $150 million

S2106 Road maintenance, repairs – county, mun. $20 million

A3502 Concerns South New Jersey Light Rail Transit system

AR147 Local participation in RR Operations Act

AR157 Mass transit – DOT alleviate congestion

S239 Expands definition of Circle of Mobility

A1189 Creates Local Bond Authority

A3010 Amends definition of Circle of Mobility

B. Laws Enacted

P.L. 1999, c.181 Bridge Rehabilitation and Improvement Bond Act

P.L. 1999, c.147 Increase spending cap for the Transportation Trust Fund Authority

P.L. 2000, c. 11 Appropriates $205 million from 1999 Statewide Transportation and Local Bridge Fund
P.L. 2000, c.59 Expands definition of Circle of Mobility

P.L. 2000, c.73 Congestion Relief and Transportation Trust Fund Renewal Act

P.L. 2000, c.155 Appropriates $205 million from 1999 Statewide Transportation and Local Bridge Fund

P.L. 2000, c.53 FY 2001 Appropriations Act; appropriates $900 million from

Transportation Trust Fund for various State and local transportation projects

P.L. 1999, c.138 FY 2000 Appropriations Act; appropriates $900 million from Transportation Trust Fund for various State and local transportation projects

P.L. 1998, c.45 FY 1999 Appropriations Act; appropriates $700 million from Transportation Trust Fund for various State and local transportation projects

P.L. 1997, c.131 FY 1998 Appropriations Act; appropriates $900 million from Transportation Trust Fund for various State and local transportation projects

4.8 Support a stable source of funding for open space and farmland preservation.

On November 3, 1998, New Jersey’s voters passed Public Question No. 1. Article 8, Sec. 2. para. 7 of State Constitution dedicates $98 million in sales tax revenues for open space, farmland, and historic preservation.

Chapter V

5.1 Establish a county-based assessment structure with strong State oversight and involvement to provide an environment conducive to ongoing assessment equity.

(No law, regulation or bill has been forthcoming).

5.2 Mandate more frequent updates of assessment values by requiring assessors to use State-approved computer software.

(No law, regulation or bill has been forthcoming). However, see A-641 and S-995 of 00-01, that creates a “Task Force to Study the Computer-Assisted Mass Appraisal of Real Property; appropriates $100,000.

5.3 Establish a schedule for property visitation.

(No law, regulation or bill has been forthcoming).

5.4 Improve guidelines for assessment uniformity.

(No law, regulation or bill has been forthcoming).

5.5 Create a State-funded program to absorb increases in the local property tax burden for a fixed period of time.

(No law, regulation or bill has been forthcoming).

5.6 Guarantee the promised State incentive funding for the full five-year period, once local units agree to merge.

(No law, regulation or bill has been forthcoming).

5.7 Provide State funding to “hold harmless” local units that experienced a reduction in overall State aid funding as a result of the consolidation.

(No law, regulation or bill has been forthcoming).

5.8 Require municipalities participating in mergers to conduct and complete a revaluation prior to consolidation.

(No law, regulation or bill has been forthcoming).

5.9 Provide State funding of the revaluation relief credits that municipalities are permitted to offer property taxpayers under the Revaluation Relief Act of 1993.

(No law, regulation or bill has been forthcoming).

5.10 Use financial incentives and disincentives to encourage participation when there is only a small discrepancy between taxpayer assessments and current market values.

(No law, regulation or bill has been forthcoming).

Chapter VI

6.1 Fund an independent statewide analysis of the equity issues surrounding “circuit breakers” established along intergenerational lines and withhold new programs until completion of that study. (No law, regulation or bill has been forthcoming).

6.2 Enact Governor Whitman’s proposed legislation that would move local school board member elections to the November general election.

A-1721 of 2000, Provides for the election of school board members at November general election.

6.3 Amend state law (C. 40A:10-52) to remove the barrier prohibiting municipalities and school districts from joining together for the purpose of providing joint health insurance.

(No law, regulation or bill has been forthcoming).

6.4 Extend the open enrollment period indefinitely for municipalities wishing to enter the State Health Benefits Program (SHBP).

(No law, regulation or bill has been forthcoming).

6.5 Develop a mechanism which permits and encourages adjacent municipalities to share the ratables derived from new development with regional impacts beyond the borders of the host municipality.

(No law, regulation or bill has been forthcoming).

6.6 Enact legislation that will establish a system of multiple jurisdictional bargaining for public employees on a county, regional, or statewide basis.

(No law, regulation or bill has been forthcoming).

6.7 Enact legislation that will limit the annual growth in public employee salaries to the rate of inflation as measured by the consumer price index for the New York and Philadelphia areas.

(No law, regulation or bill has been forthcoming).

6.8 Examine the effectiveness of existing caps on budgets that contribute to property taxes.

(No law, regulation or bill has been forthcoming).

6.9 Examine the question of seeking voter approval of all budgets that contribute to property taxes.

ACR-80 of 2000, Proposed constitutional amendment requiring voter approval for any new tax or tax increase by any governmental unit.

Real Estate For Beginners Residential- Property Taxes

Real Estate For Beginners Residential- Property Taxes   by Nicole Soltau
in Other    (submitted 2005-07-13)





Whenever you own a piece of land, you will be taxed for it. Whether it is commercial property or residential property, there is still a tax to pay, whether it is for a village, town, city, county, or state. Most residential private property taxes are handled on the local level, going no higher than the county. Depending on the nature of the business, it may be handled by a variety of entities, including state and federal agencies. Each specific area and state has its own way of levying property taxes. This article is intended as real estate for beginners and will focus on property taxes as they relate to residential private property. Your Credit Union financial advisor can also provide a good deal of valuable information; call today to schedule your free consultation.

How property taxes are used. Each locale uses the revenue earned from property taxes for different purposes. It can be anything from road repairs and utility upkeep to firefighter salaries and emergency response. Most areas, however, use the money received from property taxes for school districts. Taxes are levied and then distributed to schools in a district according to the amount of money received from property taxes. This often puts homeowners in a bind, as most of them want quality education for children, but are reluctant to vote to pass measures that will result in a property tax increase.

How property taxes are determined. Before buying a home, it is important for real estate beginners to understand how the amount you pay in property taxes is decided upon. Everyone pays a different amount, depending upon how much a home is worth. The tax rate for an area is the same throughout that area, but due to varying home values, the property tax you pay may be a little higher or lower than your neighbors.

If the property tax rate in your area is 9 percent, and your home is assessed at 250,000 dollars, your yearly property tax would be 22,500 dollars. If your neighbor?s home were only assessed at 235,000 dollars, he or she would pay 21,150 dollars in taxes per year. Many areas have specified periods of time required for a new assessment. Most places require a new assessment every five to seven years. This means that your taxes could go up or down as your property value changes.

What goes into a property assessment? There are some guidelines assessors use when determining the value of your home. By being acquainted with these, you will be more likely to understand why your home has been given a certain value. Here are the most common benchmarks taken into consideration when determining a home?s value.

? Sale price of similar properties in the area: the assessor will know how much other homes in your immediate area are selling for, and will assess your house to reflect the value of the neighborhood.

? Property?s historical value: records of the property?s value through the years will help the assessor determine whether the home?s value keeps with current trends, and whether the home increases in value over time as a general rule.

? Cost of replacing the property: it is possible to determine how much the materials to replace the property, or to add improvements to increase value, would cost. This can figure into the value of the property.

? Potential value of the property if it is used to make money: many people use their property as income through rental or sale, and this value can be used to help the assessor decide how much he or she should value your property for.

Disputing an assessment. Because home values are subjective, it is possible to dispute a value. You can speak with neighbors and realtors to discover what homes in the area are valued at. Recent home buyers and sellers can give you a good idea of what others are paying in property taxes. Visit your tax board or the local tax assessment office to find out what the procedures are for dispute an assessment you feel is unfair.

Paying your property taxes. As a real estate beginner, you want to be sure that you are paying the taxes on your property. There are a number of ways to do this, including paying to the tax commission quarterly or yearly. However, the simplest way to pay your taxes is to have them integrated into your home loan. They can be added to your monthly mortgage payment, making it a relatively hassle-free way to make sure everything is taken care of.

With a little savvy, even a real estate beginner can have a good handle on what it takes to get a fair value assessment and know the ins and outs of paying property taxes.
About the Author
Nicole Soltau is the President and Founder of CreditUnionRate.com. If you or interested in buying or sell a property go to www.Wbcpropertytaxsolutions.com
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Bulk REO Nonsense

Bulk REO Nonsense_I am sick and tired of people who talk the talk but can’t walk the walk!
There are many reasons why bulk REO buying has gained unprecedented popularity. Banks have unwanted property and there are many buyers who want cheap and accessible investment options who can act fast.
BUT … I bet that you have encountered a multitude of people who are in a daisy chain of “brokers” or who have self proclaimed “mandates” constantly misrepresenting product they do not control nor have the proper authorization to advertise or sell.
WAKE UP!
These people who have nothing else better to do will be your downfall if you do not learn early how to get pass them and on to the real product source, which is the most difficult point to locate.
If you want to get into Bulk REO’s then learn how to do it the right way, and stop chasing flying monkeys
I get emails from people telling me that they have 1 TRILLION dollars of property, or they have a buyer you can handle ONE BILLION Dollars monthly. .. Really ???
Only through training and experience will you be able to recognize these clowns of the business within 2 minutes of being on the phone with them. You will learn early on that it is not about finding the deals, but learning how to spot these clowns and get off the call as fast as possible.
I also hear of people asking for bulk reo tapes clear across the country, OR they are going to Nationwide MEGA banks for these huge packages.
NOT !! There is no way you are going to be successful doing this.
Don’t look too far a field – its a a bad idea especially because most bulk REO options are easier to handle when you are close to the actual area where the transactions and the property itself is located, which will allow you to inspect the area. Be aware that these packages can sometimes come with heavily defaced or vandalized real estate properties, and in these cases, it
The other bit of advice I want to give is that you must learn how to approach your local banks and start “Cherry Picking”
Once you have established a relationship with a bank that will give you access to their product and start cherry picking from their lists or properties will you start to get results.
Instead of waiting for that “home run” of 100 properties, you can work on those “one base hits” by cherry picking one property at time from a tape. Selling these one at time will put money in your pocket immediately. You can always wait for the “big deal” this way.
In conclusion….
Be realistic , get solid training to be successful in Bulk REO.
I have a 150 page e-book with information how to find the best banks to target, what assets they must get rid of, how to find the correct person in the bank, and the scripts on what to say, and reply back to their question.
Its all at a no-nonsense and a no brainer price of only $97.
Now you have NO excuses why you cannot suceed.
GO NOW >>>>> http://www.BulkReoPropertyInvesting.com
You can even read the first chapter to make sure its right for you!
Now go out and do a deal.
Duncan Wierman

Protesting Minnesota Commercial Property Tax Laws – Law – Property Tax

Protesting Minnesota Commercial Property Tax Laws – Law – Property Tax   by Shields Manning
in Law / Intellectual Property    (submitted 2012-03-10)





With the doom and gloom in the economy and the uncertainty in the real estate market, 2009 may be the year to challenge taxes. Amy Grady understands Minnesota Property Tax Law including real estate taxes, property taxes, tax appeals, commercial tax, retail proper tax, challenge property tax and more. The deadline for filing tax petitions is April 30, 2009, so now is the time to look at all the factors that ultimately lead to a this tax bill and whether that bill can be reduced. Understanding the process and the deadlines will protect therights a commercial property owner may have to reduce taxes this year, and for many years to come.
Property taxes are one of the single biggest expenses a commercial property owner faces. But foreclosures are on the rise, energy costs are eating into diminishing profits, tenants are downsizing or closing up altogether, and vacancy rates are therefore rising, all of which results in rising capitalization rates. With the crisis in the credit markets forcing a market downturn, every commercial property owner should look closely to see that tax assessments reflect what is happening in the
declining real estate market. It is important to contact an attorney with property tax law knowledge in Minnesota including knowledge of property tax refund, income this tax, this tax court, appeal property tax, tax this consultation, an d more.
Minnesota has a complex property tax system. Issues of valuation, exemption, classification, and equalization all play a part in the analysis of whether a property taxpayer will ultimately receive a check refunding overpaid property taxes. When looking at a property tax issue, ask the following questions.
When challenging this taxes, remember that the focus is on the value of the property, not the resulting taxes. The bottom-line question in every this tax appeal is, what was the property’s market value on the assessment date? Taxes are assessed as of January 2 each year for taxes payable the next year. So for the April 30, 2009, tax petition deadline, we are challenging the assessor’s market value as of January 2, 2008, for the taxes payable on May 15 and October 15, 2009. The status of the property as of that date is the issue to resolve, either through settlement discussions with the assessor or through litigation before a tax court judge. Whether you deal with industrial property tax, apartment property tax, manufacturing this tax, warehouse this tax, hotel property tax, or office this tax in Minnesota you should consult an attorney.
Assessors are required to value property each January 2 at “market value.” Market value means the price a willing buyer would pay a willing seller in an arm’s length transaction. So a property owner must ask, what would the economic (market) rent, vacancy rate, and cap rate be for my property as of January 2, 2008? In Minnesota, the “fee simple” interest, not the “leased fee” interest in property is to be valued. The issue of fee simple vs. leased fee has been the subject of protracted litigation in neighboring states and was just this year resolved by seven members of the Wisconsin Supreme Court in the Walgreens v. City of Madison decision. In a 58-page decision, the Wisconsin Supreme Court essentially wrote a treatise on the fee simple vs. leased fee issue that is now guiding other states grappling with this complex appraisal issue. A good lawyer can assist with real estate tax appeals, challenge real estate taxes, commercial real estate tax appeals, and much more.
It is also important to make sure that only the real estate itself, and not the income generated by the business, is being taxed. Ad valorem, or property taxation, requires that only the value generated by the real estate itself can be taxed. Assessors are required to physically inspect property every five years but must value every property every year, as of the January 2 assessment date. How do assessors do all that? Since assessors are often overworked and understaffed, they rely on a mass appraisal analysis, looking at sales in the vicinity and analyzing market trends. Most properties are assessed with little or no specific information on the property itself. Accordingly, the more information a property owner can share with the assessor, the more the assessment will address the specific valuation issues unique to that particular property.
About the Author
For more information about this article visit Minnesota Property Tax.For further details check Minnesota Commercial Tax.


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