I have contemplated writing a letter to the state government of New Jersey, including the Governor, Senate President, Assembly Speaker, and all members of the legislature. The article by Rob Duffey that appeared in the March 27 Star Ledger, titled “Don’t worry about the rich; N.J. needs the millionaires tax” prompted me to write.
Much has been said about a millionaire’s tax. Some say tax them and they will leave. And they well may. Of course, as Mr. Duffey points out, they may not. The fact is that the truly rich can decide to stay or leave. They can afford to do either. Mr. Duffey also points out that the state needs the money. I am not a millionaire. And that is why, while there is much to love about living in this town and this state, my wife and I plan to leave New Jersey in the next several years.
What is motivating me, and many of my friends, to make this decision is obvious; the high cost of living in New Jersey. We moved from Brooklyn to North Plainfield in 1985. We have lived in the same three bedroom, 1½ bathroom house, raised three sons, and are now empty nesters. In 1985, our property tax bill was $2,805. It was over $10,000 a few years ago, but our house was reassessed, prompting a decrease. Imagine, the only reason for a tax decrease was because the value of your house decreases.
Read the entire piece here.