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Old 12-17-2016, 09:29 PM
 
9 posts, read 14,734 times
Reputation: 17

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Hello everyone,

I was in NYC from 08 to 12, and moved back to Texas and started a family. Wife wants to move back to NJ (where she grew up - Bergen). We are both teachers and have two kids.

I am worried about:
High property taxes - and getting even higher
New Jersey teachers pension fund exploding and being the last one in
current housing market - all the schools I want to be close too are surrounded by 1/2 million $ houses
Cost of living shift - any other teachers out there? - what do you get paid and how much house can you afford?


Does anyone live in NJ and teach in NY?


Any help is appreciated
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Old 12-18-2016, 09:07 AM
 
Location: New Jersey
15,308 posts, read 15,495,808 times
Reputation: 6818
I would advise against it. NJ is a ticking time bomb with the pension liability, other debts, never ending property tax increases and corruption.
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Old 12-18-2016, 09:30 AM
 
4,156 posts, read 9,832,829 times
Reputation: 3475
Quote:
Originally Posted by tourniquet View Post
Hello everyone,

I was in NYC from 08 to 12, and moved back to Texas and started a family. Wife wants to move back to NJ (where she grew up - Bergen). We are both teachers and have two kids.

I am worried about:
High property taxes - and getting even higher
New Jersey teachers pension fund exploding and being the last one in
current housing market - all the schools I want to be close too are surrounded by 1/2 million $ houses
Cost of living shift - any other teachers out there? - what do you get paid and how much house can you afford?


Does anyone live in NJ and teach in NY?


Any help is appreciated

High property taxes - and getting even higher

Property taxes are increasing much less then they previously were in the 00s. 2011 law was supposed to cap property tax increases at 2%, but has too many exceptions. Nonetheless, it has still helped in this regard a good deal. Everyone knows property taxes are a huge issue still, I am optimistic the problem wont get worse

"Average tax bills rose 2.4 percent in 2011, 1.6 percent in 2012, 1.3 percent in 2013, 2.2 percent in 2014, and 2.9% in 2015."

This is compared to over 7% each year from 2004-2006.

See the article below.

Here's how much property taxes went up (again) in N.J. last year | NJ.com

New Jersey teachers pension fund exploding and being the last one in

Supreme court ruled in July that COLA increases on pensions are not required. Basically the plan is to pay out the current pensions, but there will be no COLA increases for those who are already retired until the plan is on secure financial footing. It does screw those who are currently retired or near retirement, but makes the pension plan much more workable.

current housing market - all the schools I want to be close too are surrounded by 1/2 million $ houses

Housing will cost much more then it does in Texas obviously. You can check the listings and see for yourself what your money gets you and then make a determination as to whether you are comfortable with it.
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Old 12-18-2016, 10:17 AM
 
Location: New Jersey
15,308 posts, read 15,495,808 times
Reputation: 6818
Quote:
Originally Posted by GiantRutgersfan View Post
High property taxes - and getting even higher

Property taxes are increasing much less then they previously were in the 00s. 2011 law was supposed to cap property tax increases at 2%, but has too many exceptions. Nonetheless, it has still helped in this regard a good deal. Everyone knows property taxes are a huge issue still, I am optimistic the problem wont get worse

"Average tax bills rose 2.4 percent in 2011, 1.6 percent in 2012, 1.3 percent in 2013, 2.2 percent in 2014, and 2.9% in 2015."

This is compared to over 7% from 2004-2006.

See the article below.

Here's how much property taxes went up (again) in N.J. last year | NJ.com
Love Governor Christie's spin on reducing the property taxes increases. It's still an increase and it's still absurd what we pay. There should be no increases. NJ has the highest property taxes in the country and there has been no fundamental reforms put in place to address this issue. Too many municipalities with too many administrators, judges, police officers, superintendents, teachers etc. Politicians and their special interests (unions, lawyers, businesses, etc.) and a disengaged electorate will prevent that from changing. Where I live, without fail, school taxes go up each year and this is a school district shared by multiple towns. As I've said, open up the books of any municipality, county, and school board...you will find wasteful spending. Overpaid administrators and police in a one square mile town, exorbitant spending at conferences and luncheons, brand new furniture, shiny new cars, etc.

You may be able to find a reasonably priced home in parts of NJ, but the property taxes are a significant deterrent.

Quote:
Originally Posted by GiantRutgersfan
New Jersey teachers pension fund exploding and being the last one in

Supreme court ruled in July that COLA increases on pensions are not required. Basically the plan is to pay out the current pensions, but there will be no COLA increases for those who are already retired until the plan is on secure financial footing. It does screw those who are currently retired or near retirement, but makes the pension plan much more workable.
This is like plugging the titanic with a band aid. The state has neglected to pay its share of the pension for nearly 20 years. While Governor Christie has made significant payments, they do not come close to matching what is necessary.

Ultimately I think the entire system should be phased out. New hires should not be enrolled in the system. There should be no COLA increases and there should be tighter salary caps. Public employee salary increases should be no more than 1 or 2% annually with freezes during bad economic times. Superintendents, Chiefs of Police, Business Administrators, etc. should not be making more than the governor. Of course this will never happen.
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Old 12-19-2016, 06:19 AM
 
Location: NJ
19,293 posts, read 13,894,391 times
Reputation: 13366
Redirect your energy to your town to reduce your taxes. More than likely the waste, legal and illegal crime and cronyism in our own backyard is the major cause of outrageous NJ taxes.


Then up to the county and then the state.


NJ politicians have sent us a crystal clear message with the misleading clarification on the change in law to 'ensure' the gas tax is dedicated.


Nj is officially the politicians feeding trough it is reputed to be. Thanks to the NJ electorate and media.
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Old 12-19-2016, 09:07 AM
 
3,251 posts, read 1,957,426 times
Reputation: 4188
NJ is a ticking time bomb. Im deathly afraid if a Democrat Governor gets into office and the day the Pension issue hits the wall. Something will break.
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Old 12-19-2016, 10:35 AM
 
54 posts, read 45,990 times
Reputation: 85
Cost of living in Nj is much higher than Texas. Yes the salaries are higher BUT. Also be aware that the current gov. has had a law passed that NJ teachers have to live in the state. New teachers can not work in NJ and live in lower cost of living state like PA. Also you may have trouble finding a teaching job in the state depending on your certification, which is another issue. Not sure if NJ and Texas are similar. Referring to home cost, look up realtor.com, zillow, gsmls etc. GOOD LUCK
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Old 12-19-2016, 01:21 PM
 
Location: NYC
19,893 posts, read 13,424,352 times
Reputation: 24575
We'll see how bad it is once Christine leaves office and another wiseguy moves in and pays all his friends 1st then tells the union we don't have any more $$. Then oks more tax hikes, NJ has a spending problem. AC's demise outed the state's bad spending habits. Unless the state finds new ways to generate billions in revenue, get ready for huge tax hikes incoming.
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Old 12-19-2016, 02:06 PM
 
3,507 posts, read 3,490,153 times
Reputation: 1616
Do not move back to NJ. Like many have said, it is a ticking time bomb. Have you read Christie approved a 300m to renovate the state house? Like NJ has a lot of surplus, if there is any. For Christ sake, they can probably build 10 state of the art one for less.
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Old 12-19-2016, 08:27 PM
 
9 posts, read 14,734 times
Reputation: 17
Thanks this is all good information - I guess I should say useful information - most of it is not good...


Yea - now I remember reading that all state employees have to live in the state right?

I am a physics teacher too - certified in math as well. I have NY and TX teaching certs.

Looks like I will be trying to convince the wife to move to NY state or CT.
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