Dear Editor:
The experts say that housing is the engine that runs New Jersey’s economy, and ever since the economy tanked in 2008, they have warned against rising property taxes, that are the highest in the Nation. The Healy Administration apparently never got the message.
Even worse for buyers and sellers, property taxes are rising sharply, continuously here, but that’s not the whole story.
This year, in a letter to property owners, Healy “apologized” to property owners for raising their property taxes once again, citing… “the new Great Depression,” not the egregious fiscal policies of his administration as the real cause. Look closely at the “temporary budget” the City Council passed, and between the lines of their euphemistic comments. They are borrowing a whopping $67 million, and raising taxes again, despite huge public protests. In plain talk, Jersey City is in deep, deep trouble— a full blown financial crisis, caused by the reckless self-serving spending policies of its leaders. Now they have the unmitigated brass to expect a bail out, like the contemptible Wall Street banksters, from the very people who have been hurt most, impoverished middle class taxpayers.
Council members and Budget officials protested that additional property taxes are necessary to “balance the budget.” Shades of Herbert Hoover! In the early days of the first Great Depression, Hoover was saying the same thing! No soothing words from the painfully impervious Hoover then, absolutely none from the stumbling, bungling Jersey City mayor and City Council now. Healy administration policies also raise the grim spectre of increased homelessness, as in Hoover’s day.
The new budget increases the City’s gross bond debt to close to one billion dollars! The continuous hefty tax increases, and the revaluation measure (seen by many as a desperate move) suggest the reckless Healy administration is having trouble borrowing, and may be on the brink of a crippling default. Debt service charges are exempt in Christie’s new cap on property tax increases. As Jersey City folks may say, we are “screwed!” royally.
The Healy Administration says it needs the additional $67 million to fund relocation of city agencies to clear the way for further redevelopment. That much, just to relocate a few piddling departments. Here they go again! Beleaguered JC middle class property owners will be paying “through the nose” for years –to subsidize wealthy developers! Not to mention the notorious, lavish tax abatements favors that are bound to come. Let’s not forget the FBI indictments of key Healy administration officials, alleging illicit relationships with a private deep pockets developer, including one of the mayor’s own deputies.
Mayor Healy and the council have demonstrated that they are not capable, morally or otherwise, to lead the City out of what they are so fond of referring to as “the Second Great Depression,” thereby glibly disavowing the shocking blame. The best thing that aggrieved, long-suffering Jersey City people can do: throw them out now, and brush their hands off quickly after doing it, with restored dignity and respect.
Vince Pantozzi
Jersey City