At first glance, this post has nothing to do with Atlantic City. At second glance, this post has everything to do with Atlantic City.
If you are trying to buy a home in Atlantic City, additional consideration must be given to whether a given property has been re-evaluated or not. The evaluation determines a property’s tax rate. Mayor Whelan was too busy trying to get re-elected and not re-evaluating – as is required by state law – the properties in Atlantic City. It is never popular to be the efficient cause of property owners’ higher taxes, especially in the year leading up to your re-election bid, which was the case with Mayor Whelan.
Mayor Langford was too busy stabilizing the tax rate and not re-evaluating the property values and tax rates. Mayor Levy was too busy . . . what was he too busy doing? Atlantic City is grossly overdue for a property tax re-evaluation and hike.
Why are the taxes not an equal rate for all? The current tax rates have too many exceptions of which to keep track. The current system places young people at a marked disadvantage when trying to build a home. It is as if policy makers want young people to shy away from the responsibility of starting a family.
Why is a young person, desiring to become a homeowner, at a considerable disadvantage when buying a home? These questions are answered, indirectly albeit, by Mayor Steve Lonegan at the Hamilton Township Republican Club meeting this evening.
Mayor Lonegan was the guest speaker at Thursday night’s H. T. Republican Club meeting in the Mays Landing Library. Lonegan has been touring the State, working tirelessly, to energize the people of New Jersey.
He explained that NJ was the most prosperous agricultural state. When NJ switched over to an industrialized economy, she was again first in the nation in that type of economy. Patterson was the first planned urban industrialized city in the country, probably also in the world. That was NJ up until the beginning of the social experimentation phase, which we are still in today. NJ 1967 and NJ today are like night day.
Mayor Lonegan’s brief history lesson tracks the two serious strands of economic theory that have influenced policy in NJ. NJ up until her societal experimentation phase was informed by the theory first identified by Adam Smith, the founder of economics and author of The Wealth of Nations, expounded by Milton Friedman and then instituted politically by Ronald Reagan. That is the economics of the Free Market.
The economic theory influencing NJ today is that originally propounded by Karl Marx and initiated on an international political level by major United Nations policy proposals.
Lonegan proposes that 1-Freedom, 2-Prosperity, 3-health and safety, and 4-peace are the four marks of the free market.
After moving through an international tour of the benefits of a free market economy – Chile, New Zealand, Ireland, and Vietnam – Lonegan states the four requirements for a free market. 1) Emphasizing personal, rather than collective choice, 2) voluntary exchange coordinated by the markets, rather than coerced eschanged coordinated by the government, 3) the freedom to enter and compete in markets, and 4) the protection of persons and their property from the aggression of others.
It is worth attending a Lonegan grassroots workshop. http://www.americansforprosperity.org/index.php?state=nj is his web-site.
Lonegan hits on some of the themes he discussed with the Hamilton Township Republican Club meeting in his latest blog entry, http://www.politicsnj.com/left-marches-part-six-emotion-based-politics-big-government-12327.