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(My Central Jersey)   New Jersey mayor selling his house because he can't afford his own town's property taxes   (mycentraljersey.com) divider line 60
    More: Ironic, New Jersey, property taxes, college town, Jersey Shore, jersey, mayors, McCullough, selling  
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4897 clicks; posted to Main » on 21 Aug 2013 at 12:49 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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vpb [TotalFark]
2013-08-21 11:54:01 AM
He and his wife bought land and built their home for $360,000 in 1985.

In 2013 dollars that would be about $783,000.  I'm guessing that this isn't a poor neighborhood.
 
2013-08-21 12:00:29 PM
I thought Governor Ow My Balls fixed that whole property tax thing by firing all the cops and teachers.
 
2013-08-21 12:41:40 PM

vpb: He and his wife bought land and built their home for $360,000 in 1985.

In 2013 dollars that would be about $783,000.  I'm guessing that this isn't a poor neighborhood.


bloximages.chicago2.vip.townnews.com
 
2013-08-21 12:52:26 PM
Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.
 
2013-08-21 12:54:58 PM

FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.


So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.
 
2013-08-21 12:55:25 PM

FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.


You're a quick one. If only he had followed your advice....

FTA:  McCullough says he hopes to find another home in the township. But if he doesn't, the couple purchased a $150,000 waterfront condominium in Florida, where the property taxes are $2,569.
 
2013-08-21 01:03:08 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.


Well I thought that was the idea. Sell large house with five bedrooms to a couple raising kids then take the extra cash to buy a small apartment. Leaving 3/4 of the house price left over for a retirement.
 
2013-08-21 01:04:10 PM
Good, fark that guy.

My taxes just went up 10% with the recent revaluation.

Surprised he can't afford it with all his kickbacks.
 
2013-08-21 01:04:59 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.


How do you go from "not a lot of sympathy" to "fark you"???  Way to go with fallacy of the excluded middle there.  And reverse mortgage from a _reputable_ lender would let your hypothetical old lady stay in the house.

It irks me when people attempt to get publicity and sympathy for a faux-tragic situation that's totally normal and foreseeable.  The value of his house didn't triple overnight - in fact, as mayor he ought to know better than almost anyone what the real estate trends and the tax burdens in his town are.

The same deal with people who are soooo happy when an Ikea or an auto factory move to town, and then get pissed off when there's more traffic and they can't get a seat at their local diner.  What the fark did they think was going to happen?
 
2013-08-21 01:05:32 PM
Can't believe farkers think 31k property taxes on 1.1 million is fine, because of the evil rich.....
 
2013-08-21 01:06:26 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.


She should pass the family home on to the next generation - her son or daughter - who by this point is likely needing a home to raise their own family in, and is at a point in their career where they can afford the upkeep (and reap the benefits of not having a mortgage!).  Then, she'll move into a smaller granny flat, either on the same property or nearby, so as to provide cheap child-care to her grandkids (on occasion, not as a default) which will allow her to pass on the family history and values to the next generation, while allowing her to maintain an independent lifestyle.

Othewise, fark grandma for holding onto a house she can't afford while her kids work themselves to the bone to maintain a lower standard of living.
 
2013-08-21 01:09:50 PM

Thunderpipes: Can't believe farkers think 31k property taxes on 1.1 million is fine, because of the evil rich.....


Its easy to treat taxes as a hypothetical when you live in your parents basement.
 
2013-08-21 01:12:27 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.



When they are the Mayor, and the reason why this happened in the first place, yes, your damned right, fark him.

FROM HIS WEBPAGE: "Sonny is currently serving his 22nd year on the Township Committee. For 18 of those years he has been selected as mayor. The mayor is not elected but rather chosen by the five members of the committee, so Sonny's repeated selection shows the great respect the other committee members have for his leadership abilities. "
 
d23 [TotalFark]
2013-08-21 01:13:00 PM

Wendy's Chili: I thought Governor Ow My Balls fixed that whole property tax thing by firing all the cops and teachers.


he needed the money for corporate kickbacks.  You know... every dollar given to a corporation creates .00000000000000000001 jerbs!
 
d23 [TotalFark]
2013-08-21 01:13:46 PM

EbolaNYC: FROM HIS WEBPAGE: "Sonny is currently serving his 22nd year on the Township Committee. For 18 of those years he has been selected as mayor. The mayor is not elected but rather chosen by the five members of the committee, so Sonny's repeated selection shows the great respect the other committee members have for his leadership abilities. "


fail
 
2013-08-21 01:14:40 PM
The taxes are too damn high.

a57.foxnews.com
 
2013-08-21 01:16:14 PM
Lemme guess.
It's Jersey.
Someone named "Sonny" is involved in "politics" and this happens to be in a town near "AC" where suddenly a bit of swampland is surprisingly not affordable any more.
I would be willing to bet without looking at the article that there is a very, very old vineyard nearby with gangsters buried in it.
Old, Eye-tie, gangsters.
/DRTFA, but it's joisey, so....
 
2013-08-21 01:17:41 PM

vudukungfu: Lemme guess.
It's Jersey.
Someone named "Sonny" is involved in "politics" and this happens to be in a town near "AC" where suddenly a bit of swampland is surprisingly not affordable any more.
I would be willing to bet without looking at the article that there is a very, very old vineyard nearby with gangsters buried in it.
Old, Eye-tie, gangsters.
/DRTFA, but it's joisey, so....


Woodland, not swampland.
 
2013-08-21 01:19:06 PM
I've known Sonny McCullough for decades, and I've been in that house. He's a decent, hard-working guy who didn't exactly become rich in his political career (mainly because he's also honest). I'm sorry he needs to move. All the folks up here who blindly criticize him... well, you're wrong.
 
2013-08-21 01:19:59 PM
I don't give a shiat about this guy, but property taxes in NJ are way out of line. I could buy a reasonable place for what my sister's family pays in taxes.
 
2013-08-21 01:20:50 PM
Boo friggin hoo.

I guess he couldn't hold off the accessors using his political connections like he's probably done for the last 28 years.
 
2013-08-21 01:20:56 PM
I was talking with a coworker this morning about the ridiculous property taxes these days. It's sad seeing older people who have worked all their lives, and have paid off their homes then lose them because they can't afford to pay the property tax. It happens alot more often than most people think. There should be laws put in place where once a home is paid for, the taxes are greatly reduced and/or the rate frozen. My brother has a small house in Pawtucket RI that he bought dirt cheap. The taxes are so lopsided on the place. He pays what my parents do for their house that has a big yard in an upscale neighborhood in MA. The systems broken.
 
2013-08-21 01:21:05 PM
We need to move away from the knee jerk "all taxes are good fark the rich!!" no "all taxes are evil let 'em starve!!!!$#!!" fights. The artificial divisiveness is stupid.
 
2013-08-21 01:21:11 PM

BMFPitt: Woodland, not swampland.


*goes and Reads TFA*
Huh,
but other than that... I was close.
And no, I wasn't putting anyone down.
Picking all those stereotypes was like shooting fish in a barrel with dynamite.
 
2013-08-21 01:25:45 PM

vudukungfu: Lemme guess.
It's Jersey.
Someone named "Sonny" is involved in "politics" and this happens to be in a town near "AC" where suddenly a bit of swampland is surprisingly not affordable any more.
I would be willing to bet without looking at the article that there is a very, very old vineyard nearby with gangsters buried in it.
Old, Eye-tie, gangsters.
/DRTFA, but it's joisey, so....


Would it dissuade you from continuing this racist mess if I pointed out his last name is McCullough?
 
2013-08-21 01:27:25 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.


First of all : here's the original, and much better, article

Yes, fark her and her stubborn ways. She needs to let someone else live in that 4/5 bedroom house. Maybe her children? Maybe a relative? Why is she hogging all that space?

At the very least this mayor is guilty of bad planning. In 1985 he bought a parcel of land on the water front that was, as an empty lot, worth more than the average house price in his town TODAY. He then built a 4 story home on top of it. He clearly has been pushing his town to develop the area for second home owners, mostly because they buy bigger homes than average, and have a very small effect on local services.

It's also very very hard for me to feel any pity for anyone with more than one home.  Dude - you're 70. Retire and move to Florida.

Note : The Tax Assessment on the home in New Jersey is about 2.8% of value. The Florida condo is taxed at about 1.7% of value, but the real savings comes from the 87% drop in assessed value
 
2013-08-21 01:29:22 PM
Better off with a business job. Govt doesn't pay well.
 
2013-08-21 01:31:59 PM

MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.


That would be cold-hearted.

Instead, we should cheer the young couple who can move into a nice home and raise a family!
 
2013-08-21 01:40:07 PM
So, when the value of my home increases the property tax increases too?
 
2013-08-21 01:43:13 PM

DMZ DEATH: There should be laws put in place where once a home is paid for, the taxes are greatly reduced and/or the rate frozen.


Really?

You want the middle class family who is already forking over tens of thousands of dollars to the bank to finance the damned thing to shoulder the full tax burden while a real estate speculator who plops down a bag of cash to pay for it gets subsidized?

I pray to God that you don't vote.
 
2013-08-21 01:43:28 PM

Thunderpipes: Can't believe farkers think 31k property taxes on 1.1 million is fine, because of the evil rich.....


Jesus!  $31K on $1.1M?  Do the trashmen personally come in and empty all the cans around the house for you?  What are you getting for that?  I live in Orange County, CA (arguably one of the more expensive counties in the country to live) and my property taxes on a house of that value would be about $12K.
 
2013-08-21 01:45:42 PM
"I sort of hold the state responsible for that," McCullough said, because the New Jersey Pinelands Protection Act unfairly made the township absorb residents.

"But we never ever received any financial support from the state of New Jersey," McCullough added. "So consequently, the schools are mostly impacted by the growth that took place."


That's always his answer to everything. The state held a gun to his head and made him do it.
 
2013-08-21 01:51:05 PM
We keep getting hundreds of these refugees from New Jersey and New York down here in north Florida, fleeing from paying these high taxes. And most of them make more money on their retirement than the working joes make around here.

I like the ones from upstate New York the best, not only are they nicer, they jump right in and volunteer in the community. The folks from New York city are alright too, once you get used to them insulting everybody and everything and swearing all the time. I have learned to avoid the people from Long Island and New Jersey. They have a tendency to be lawsuit happy and want to tell you how you should keep your property and generally are pains in the ass. They rank right up there with people from north Virginia and the Chicago area as some of the worst people in the nation.
Just general observations, and there are many exceptions.
 
2013-08-21 01:55:14 PM
Im just impressed he even paid his taxes
 
2013-08-21 01:57:03 PM

Lucksbane: Thunderpipes: Can't believe farkers think 31k property taxes on 1.1 million is fine, because of the evil rich.....

Jesus!  $31K on $1.1M?  Do the trashmen personally come in and empty all the cans around the house for you?  What are you getting for that?  I live in Orange County, CA (arguably one of the more expensive counties in the country to live) and my property taxes on a house of that value would be about $12K.


You get to live on the waterfront. Last I heard they weren't building anymore waterfronts.
 
2013-08-21 01:57:36 PM

varmitydog: We keep getting hundreds of these refugees from New Jersey and New York down here in north Florida, fleeing from paying these high taxes. And most of them make more money on their retirement than the working joes make around here.

I like the ones from upstate New York the best, not only are they nicer, they jump right in and volunteer in the community. The folks from New York city are alright too, once you get used to them insulting everybody and everything and swearing all the time. I have learned to avoid the people from Long Island and New Jersey. They have a tendency to be lawsuit happy and want to tell you how you should keep your property and generally are pains in the ass. They rank right up there with people from north Virginia and the Chicago area as some of the worst people in the nation.
Just general observations, and there are many exceptions.


Then we get the "halfbacks" in NC who decide they dont like Florida. North Carolina is halfway back to NY from Florida
 
2013-08-21 01:57:51 PM

Katolu: So, when the value of my home increases the property tax increases too?


New Jersey has the highest property taxes in the nation. Say what you will but that is not a category to be #1 in
 
2013-08-21 01:59:32 PM

Thunderpipes: Can't believe farkers think 31k property taxes on 1.1 million is fine, because of the evil rich.....


2.8% isn't absurd...
 
2013-08-21 02:00:28 PM
The system is indeed broken.

Most of our property taxes here in NJ are going to the schools.  That in itself is stupid considering the number of people that have no children in the schools.  But what makes matters even worse is having 15 superintendants in each district when there is only a need for one.  What makes matters even worse is that there are so many districts to begin with.

But what really riles me up is that the schools are cutting back on services they can't afford.  Like, sports programs, or bussing.
That second one REALLY pisses me off, because my son is starting high school this year.  Because the school is 2.3 miles away and not 2.5 miles away, he can't get bussing.

So this is what out property taxes are paying for.

System = broken and farked up
 
2013-08-21 02:00:48 PM

FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.


Math, how does it work?

If you compound $350k over 20 year, you have an annual growth rate of just under 5.75%.  Compare that to annualized growth rates over a similar period for the DJIA (7.1%), the S&P500 (6.1%) and the NASDAQ (7.93%). The result is that waterfront realestate in an affluent community lags these other benchmarks....

BUT WAIT!!!!

If you bought and held a basket of any of the above, you'd only get hit for taxes when you received dividends or when you actually sold.

What about the property?  Well, he's paying about 2.8% of the property valuation PER YEAR in taxes.  So that annual growth rate of 5.75% is actually a bit of an illusion.  If you subtract out the value of the property taxes he's paying per year (assuming a constant tax rate), the compound annual growth rate is more like 3.67%.  And that's before we incorporate any assumptions regarding inflation.

It's also before we consider the financing structure utilized as well.  The point being is that your comparison is about as valid as someone screaming "this is an outrage" that Coca Cola doesn't cost a nickle anymore.

You want to know what WOULD cause him to make out like a bandit? Lower property tax rates.

NJ's property tax rates are an outrageous burden because their income tax base doesn't really reflect high wage earners.  Every single person who commutes from NJ into NYC to work pays NY state income taxes, which typically wipe out any income tax liability that you face in NJ.  Really and truly, NY state is the villian, because they get to collect full state income tax from a sizeable amount of people who don't consume their social services.
 
2013-08-21 02:01:20 PM
If New Jersey lowered its taxes, nobody would be able to afford bailing out bootstrappy red-state hicks who cut soshulist emergency services and then a week later get a tornado up their ass.
 
2013-08-21 02:06:08 PM

thurstonxhowell: Would it dissuade you from continuing this racist mess if I pointed out his last name is McCullough?


It ain't a race, unless you subscribe to the whole "eggplant" theory.
And last name mean little.
I'm African-Native-American (GOD I hate hyphens) and happen to have an Austrian last name.
But if you live in a state on the east coast, you live in a mob controlled state.
That's not racist.
That's a fact.
 
2013-08-21 02:07:30 PM
In my previous home in VT (just moved to VA, screw you hippies!) I payed $5800 on a $400,000 home. And this was in a cheaper county away from all the services.

Taxes are killing us. We need them because of poor dumb liberals. Eventually, nobody will be able to afford a home except the rich. That what you libs want?
 
2013-08-21 02:07:56 PM

gar1013: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

Math, how does it work?

If you compound $350k over 20 year, you have an annual growth rate of just under 5.75%.  Compare that to annualized growth rates over a similar period for the DJIA (7.1%), the S&P500 (6.1%) and the NASDAQ (7.93%). The result is that waterfront realestate in an affluent community lags these other benchmarks....

BUT WAIT!!!!

If you bought and held a basket of any of the above, you'd only get hit for taxes when you received dividends or when you actually sold.

What about the property?  Well, he's paying about 2.8% of the property valuation PER YEAR in taxes.  So that annual growth rate of 5.75% is actually a bit of an illusion.  If you subtract out the value of the property taxes he's paying per year (assuming a constant tax rate), the compound annual growth rate is more like 3.67%.  And that's before we incorporate any assumptions regarding inflation.

It's also before we consider the financing structure utilized as well.  The point being is that your comparison is about as valid as someone screaming "this is an outrage" that Coca Cola doesn't cost a nickle anymore.

You want to know what WOULD cause him to make out like a bandit? Lower property tax rates.

NJ's property tax rates are an outrageous burden because their income tax base doesn't really reflect high wage earners.  Every single person who commutes from NJ into NYC to work pays NY state income taxes, which typically wipe out any income tax liability that you face in NJ.  Really and truly, NY state is the villian, because they get to collect full state income tax from a sizeable amount of people who don't consume their social services.


Housing is weird, because it is a hybrid of a useable capital item and an pure investment.

Factor in the amount of rent he'd be paying if he put that $300k into an alternate investment and lived in a rental house with equivalent space & amenities.  As I said, cry me a river.
 
2013-08-21 02:37:12 PM
Property taxes are the reason I GTFO of the northeast last year. For all the problems with income tax, at least it is not mathematically possible to owe more in taxes than you actually made in income in a given year. And the idea "I am not allowed to continue living in the house I bought and paid for, unless I pay whatever exorbitant rate the taxman demands" is utterly insane.
 
2013-08-21 02:38:44 PM

GopherGuts: I've known Sonny McCullough for decades, and I've been in that house. He's a decent, hard-working guy who didn't exactly become rich in his political career (mainly because he's also honest). I'm sorry he needs to move. All the folks up here who blindly criticize him... well, you're wrong.


He was Mayor for 20 years. Uhhh. Yeah he's a victim. Jeez I hate this state.
 
2013-08-21 02:46:27 PM

DMZ DEATH: I was talking with a coworker this morning about the ridiculous property taxes these days. It's sad seeing older people who have worked all their lives, and have paid off their homes then lose them because they can't afford to pay the property tax. It happens alot more often than most people think. There should be laws put in place where once a home is paid for, the taxes are greatly reduced and/or the rate frozen. My brother has a small house in Pawtucket RI that he bought dirt cheap. The taxes are so lopsided on the place. He pays what my parents do for their house that has a big yard in an upscale neighborhood in MA. The systems broken.


Sure, if you ALSO enact a law preventing said homeowner from giving pay hikes to teachers, cops, firefighters, and other city workers without raising taxes to pay for them....that's the source of most municipal finance woes.

People vote for stuff they can't afford, or think their kids or neighbors will pay for, but not them; it's a problem on both sides of the aisle.
 
2013-08-21 03:29:36 PM

Kraftwerk Orange: MyRandomName: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

So you are the one person who cheers when the elderly woman who has lived in their house for 50 years has to leave because she cant pay taxes. She should just downsize. fark her.

She should pass the family home on to the next generation - her son or daughter - who by this point is likely needing a home to raise their own family in, and is at a point in their career where they can afford the upkeep (and reap the benefits of not having a mortgage!).  Then, she'll move into a smaller granny flat, either on the same property or nearby, so as to provide cheap child-care to her grandkids (on occasion, not as a default) which will allow her to pass on the family history and values to the next generation, while allowing her to maintain an independent lifestyle.

Othewise, fark grandma for holding onto a house she can't afford while her kids work themselves to the bone to maintain a lower standard of living.


Well said.
 
2013-08-21 03:48:14 PM

redmid17: FrancoFile: Don't cry for me, Egg Harbor.

He's a victim of his own success.  House went from $350k to $1.1M in 20 years.  Boo-farking-hoo.  Downsize, get a reverse mortgage, or move to Florida.

You're a quick one. If only he had followed your advice....

FTA:  McCullough says he hopes to find another home in the township. But if he doesn't, the couple purchased a $150,000 waterfront condominium in Florida, where the property taxes are $2,569.


$2569's still too high for a basic home. But, then, so is having to pay $150K.
 
2013-08-21 03:51:53 PM

durbnpoisn: The system is indeed broken.

Most of our property taxes here in NJ are going to the schools.  That in itself is stupid considering the number of people that have no children in the schools.  But what makes matters even worse is having 15 superintendants in each district when there is only a need for one.  What makes matters even worse is that there are so many districts to begin with.

But what really riles me up is that the schools are cutting back on services they can't afford.  Like, sports programs, or bussing.
That second one REALLY pisses me off, because my son is starting high school this year.  Because the school is 2.3 miles away and not 2.5 miles away, he can't get bussing.

So this is what out property taxes are paying for.

System = broken and farked up


Living in a good school district does great things for your property value.  So while childless homeowners don't  directly benefit, they most definitely do so indirectly.  See how much your property value will plummet once your school district goes to shiat.  Living in a bubble, how does that work?

Other parts of your comment, I can sympathize with.
 
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