Apr 09 2010
In NJ, You are Working for the Gov’t till April 25th!
Ever hear of “Tax Freedom Day”? Tax Freedom Day is considered the day you stop making money to pay taxes and start earning money for yourself for the year. Each state’s Tax Freedom Day varies but the national average is April 9th. Unofortunately for New Jersey, we come out lousy. We in the Garden State are second to last for tax freedom—we get nailed until April 25 this year.
Because of modest incomes and low state and local tax burdens, Alaska and Louisiana celebrate Tax Freedom Day earliest on March 26. Connecticut celebrates last on April 27; New York is April 23.
Americans will work over three months of the year for the government, according to Tax Foundation calculations, and will pay more taxes in 2010 than we spend on food, clothing and shelter combined.
Also, according to the Asbury Park Press Data Universe, here are how some Monmouth County towns fared in average property tax bills bill last year:
Highest:
Rumson ($16,526)
Loch Arbor ($13,595)
Deal ($14,318)
Colts Neck ($13,240)
Fair Haven ($12,281)
Lowest:
Asbury Park ($4,279)
Keansburg ($4,357)
Shrewsbury Twp. ($4,503)
Neptune City ($5,078)
Farmingdale ($5,320)
I am now confident the peak in Canadian housing has finally set in. The real estate industry tries to convince everyone it’s business as usual and homes are affordable because rates are low. High-end home prices will remain relatively steady for a brief while longer.
I’d be more optimistic if the global economy was doing fine and we are free and clear of a recession, but that is far from the case. If you look at historical pricing you’ll find there is the occasional boom followed by years of flat price growth or slight price decreases.