Property taxes, not mortgages, choking many homeowners

We need to cut property taxes substantially for all; we don't need meager tax breaks here and there. Many people could afford their home when they bought it. It's not the mortgages that are strangling many of our homeowners, it is the property taxes.

Many homeowners can afford their mortgage payments; they just can't keep pace with every tax increase that comes along, affecting renters as well.

If those in the state government would make it affordable for people to stay in their homes, the need for more affordable housing would be cut considerably, and this would allow more available units for those with low to moderate incomes.

The hardest hit are seniors on fixed incomes who have paid off their mortgages, cannot afford the increased taxes, and have had to give up their homes. The elderly are more susceptible to losing their homes, more so than any other group. Increases in property taxes are disproportionately hurting senior citizens in just about all our communities. Many do not want to sell their homes and move, nor are they comfortable with increased debt such as home-equity lines. Many, if given the option, would like to stay in their homes, near their neighborhoods, families and friends, and not be forced to move because of higher taxes.

With state aid being cut, municipalities are forced to raise local taxes to make up for the shortfall. It may help the municipalities, but it doesn't help the taxpayers.

I also believe this is the reason many school budgets are voted down — people can no longer afford to stay in their homes without incurring additional debt. The more transients we have, the fewer ties to neighborhoods, school systems and community involvement.

When New Jersey raises other taxes to replace lost property-tax revenue, it's more of a tax shift than a tax cut. Raising the sales tax to 7 percent from 6 percent was supposed to give us property-tax relief. Roll the sales tax back to 6 percent; the so-called 1-percent increase that was to help bring the state's financial mess stability sure didn't help, other than to take more money out of the taxpayer's pocket.

Property taxes have risen 27 percent since 2000, less than the 41 percent inflation-adjusted increase in home values, but it's twice as fast as the growth in sales or income taxes. Property taxes now consume a greater share of personal income than any other time in New Jersey's history. How long before the taxes will equal more than the value of your home? Those who bought homes years ago are finding their property taxes are more than their monthly mortgage payments.

How many times are we going to hear from our legislators, "If elected, I will cut taxes"? They should have been doing that all along. Cutting taxes and increasing state spending is not what I call fiscal management.

If we need to restructure how property taxes are collected, stop talking about it. Let's do it.

Raising taxes, forcing people out of their homes and making it unaffordable to purchase a home is not the answer. It's bad for homeowners, renters and business owners

Flat tax, fair tax … it doesn't matter. Now is the time to do something, anything but the way it is being done currently. The state needs to put disposable funds back into the pockets of the people if it expects to stimulate the economy. Stop taking money out of the pockets of those who need it the most, give them the capital to spend, donate, contribute and save. Then, and only then, will you see the results of a growing economy.

A real collective bipartisan effort is needed from those in the state capitol to give relief to the people who put them in office.

By limiting the amount government can tax our property, perhaps with a constitutional cap, we will be able to have substantial relief.

We cannot continue to raise taxes for the working class at a rate faster than their ability to pay.

Whatever the solution is, we need to act now.
Joe Sinagra
Helmetta