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At its meeting on February 29, the New Jersey State Senate Budget and Appropriations Committee began the process of repealing the Estate Tax in New Jersey by passing S-1728. This bipartisan legislation phases out the New Jersey Estate Tax over a period of five years.   Under current laws, the Estate Tax takes effect when a home that is worth over $675,000 is inherited. If this legislation is enacted, the amount would be raised over five years until the tax is completely eliminated. The bill now must still be approved by the full…

Realtors® across the country are enhancing their businesses by using Realtors Property Resource® extensive database. Created by NAR for the sole purpose of providing Realtors® with the tools needed to meet the demands of clients, RPR offers: comprehensive data powerful analytics client-friendly reports   RPR is offered exclusively to Realtors® at no additional cost. RPR Basics Webinar: Tools for Building Your Business March 15, 2016 at 10 a.m. Register Now!   In this introductory class, you’ll receive an overview of RPR and…

The National Association of Realtors® Issues Mobilization grants help keep you and your neighbors aware and informed about public policy changes that would impact your wallet and your home. WHY IT MATTERS: Connects the Dots Between Content Topic and Consumer’s Family, Life, Home, Wallet. Too often, legislators target homeowners when seeking to fund federal programs. Even recently, some tried to put the financial burden of highway and transportation programs on the backs of homeowners. A proposal in Congress would have diverted Fannie…

By: G. M. Filisko Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.   As you calculate your tax returns, be careful not to commit any of these nine home-related tax mistakes, which tax pros say are especially common and can cost you money or draw the IRS to your doorstep.   Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities…

Realtors® might not have been courting couples this Valentine’s Day. As new data from the National Association of Realtors® suggests, single women will be a growing homebuyer-demographic in 2016.   Single women buyers have made up a larger share of the housing market than their male counterparts since the early 1990s, buying at nearly twice the rate. According to NAR’s 2015 Profile of Home Buyers and Sellers, single women accounted for 15 percent of all homebuyers, and many believe that number will increase in the next few…

On February 16, 2016, Gov. Christie delivered the Fiscal Year 2017 budget proposal in a speech to a joint session of the State Legislature. The budget proposal totals $34.8 billion and contains no tax or fee increases.   In his seventh budget address as Governor, Christie focused a lot of his attention to the public pension system, gas tax, and funding for hospital charity care for the uninsured and teaching hospitals. In relation to real estate, Christie called for eliminating the estate tax and additional property tax relief…

Across our nation, homeowners are coming together, taking ownership of their communities in order to make things better for everyone.   It’s called “Placemaking.”   Placemaking helps people develop a strong stake in their community and a commitment to continuously make things better. Strong communities draw an ethnically, culturally, and socially diverse population, which in turn, helps make communities more vibrant.   How do you initiate a Placemaking project? Look to Realtors®! They are prime candidates to lead or…

On Thursday, Jan. 21, NJ Realtors® CEO Jarrod C. Grasso was honored with the 2015 “Good Guy” award from the Women’s Political Caucus of New Jersey. This award is presented each year to a man who demonstrates leadership in advancing policies in support of women and families either in their business or in public policy.   Attended by more than 150 guests, the annual Passion * Power * Progress awards ceremony recognizes individuals throughout the state whose leadership, civic involvement, and professional efforts have helped make…

On Tuesday, January 19, NJ Realtors® President Tg Glazer and Local Government & Regulatory Affairs Coordinator, Bruce Shapiro, partook in an important roundtable discussion held by U.S. Senator Bob Menendez in his Newark office. The group, which included a number of industry stakeholders, engaged in meaningful discussions on how to best develop solutions to tackle New Jersey’s foreclosure crisis.   “Addressing foreclosure, and taking measures to both help those in the process and prevent other homeowners from facing that…

On January 12, 2016, Gov. Christie delivered his State of the State Address to a joint Session of the State Legislature. In his speech, the Governor called for an elimination of the estate tax and expressed his opposition to a constitutional amendment on mandatory pension payments, expressing that passage of such an amendment could lead to tax increases in future years.   The Governor also again reiterated previous actions taken by his administration and the State Legislature, including the 2% property tax cap. In addition to…