'Sandy tax' may hit many coastal home buyers in N
Residents of new jersey and long island coastal counties who live away from the Ralph Lauren Outlet water could be forced to pay higher property taxes to offset huge amount of money in lost revenue from hard hit beachfront towns, a county ordinary said.
In present cards, the state's division of town Felpe Hackett Uomo services estimated that up to 15 new jersey municipalities could lose at least 10% of their tax bases and another 10 could see a 5% 10% drop.
"The decline of land value is substantial, because the land is not functional, said ocean local freeholder john c.Bartlett jr, manager of finance on the all republican, five customer board.
"Those values restarted pretty quickly, he was quoted saying. "But there is a functional decline because entire roads and utilities were washed away,
The good news is the hardest hit towns are likely to qualify for federal emergency management agency disaster recovery loans to allow them to have money for their operating budgets in the next several years to make up for the lost revenues, bartlett proclaimed.
Ralph Lauren Uomini But it's not a warranty, and counties will have to make up the in revenues or cut services.
Ocean county authorities aren't saying how much revenue Polo Shirts Italia might be lost, but a $3 billion tax base reduction could add up to $47 million in along side board losses, according to analysis 2011 tax rates from the new jersey department of community affairs.The county raises about $350 million a year for its own treatments.
But residents whose homes survived in severely damaged towns could be confronted with property tax increases of up to $1, 000 to pay extra for the losses in the tax bases.
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