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NJAR: Jersey Voters Looking For Tax Relief

EDISON—A poll released by the New Jersey Association of REALTORS Governmental Research Foundation reveals that high property taxes (29 percent) remain the top concern for Garden State residents, even ahead of improving the economy and job market (20 percent). Additionally, the survey shows that there is broad support for the different tax relief proposals currently being debated by Governor Chris Christie and the Legislature.

Recently, NJAR GRF commissioned a poll to get a sense of the public’s opinion on critical issues such as taxes and housing policies. The poll of 800 randomly selected registered New Jersey voters found that people are generally satisfied with the way things are going in New Jersey. More voters say the state is heading in the right direction (47 percent) than off on the wrong track (42 percent).

The survey showed the vast majority (95 percent) of people believe that the real estate industry and housing market are important to New Jersey’s overall economy. The poll also found that 41 percent of people think the best way to stimulate the state’s housing market is to reduce real estate related taxes and fees. A considerable number (52 percent) of residents support a proposal to eliminate state realty transfer fees. The survey revealed that 78 percent oppose the idea of imposing a local realty transfer fee. In addition, 67 percent oppose the concept of enacting a seasonal rental tax.

Additionally, the survey showed that nearly half (47 percent) characterize foreclosures as a problem. It demonstrated virtually unanimous support (97 percent) of a legislative proposal to transform vacant foreclosed properties into affordable housing units.

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