i can't imagine how this could actually fly. charitable donations need to be voluntary- your property taxes are not.
oots said:
i can't imagine how this could actually fly. charitable donations need to be voluntary- your property taxes are not.
This. If they decide to make it a charitable "donation" then I'll gladly donate $5.
Just one of the possible mechanisms being looked at to offset the impact of the reduced SALT deduction on NJ residents who pay more than $10,000 a year on the combination of NJ real property taxes and NJ income taxes. Replacing the State income tax with a payroll tax is another. There are ramifications and considerations with whatever approach or combination of approaches our elected officials decide to go with at both the State and local level. Hopefully, whatever is decided will be implemented only after careful consideration is given to how that process will work.
oots said:
i can't imagine how this could actually fly. charitable donations need to be voluntary- your property taxes are not.
Your charity donation is voluntary. You are not being forced to donate to the town. Property tax is mandated as required. But the donation is not.
Some states allow donations to private schools which are then offset against state income tax liabilities. Similarly, while school tuition is not voluntary, the donation is.
Right. Basically, your donation to the town charity can be taken as a credit against your taxes.
This is an interesting idea, but towns can't do things overnight. They have a responsibility to make sure it's all legit before implementing anything.
It just doesn't seem right. It feels like relatively "wealthy" people trying get around a law they don't like.
The whole tax bill was just super wealthy people shafting people they don’t like (blue staters).
GoSlugs said:
The whole tax bill was just super wealthy people shafting people they don’t like (blue staters).
Pre-CISE-ly!
- Alex
Not only that, it was a way for Republicans from low tax revenue states to raid the pockets of wealthy, productive, high tax revenue states. As if Blue states hadn't been subsidizing many Red states (though some Red states give more than they take and some Blue states take more than they give).
This article may be old but the argument remains:
Which States Are Givers and Which Are Takers?
A telling quote:
"It’s not just that some states are getting way more in return for their federal tax dollars, but the disproportionate amount of federal aid that some states receive allows them to keep their own taxes artificially low."
Now we get to subsidize them even more!
GoSlugs said:
The whole tax bill was just super wealthy people shafting people they don’t like (blue staters).
But of course they win double, because now they have a bunch of liberals trying to find ways to dodge taxes and further starve the government. They got us twice.
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Taxes as Charity? New Jersey Towns Try to Elude G.O.P. Tax Law https://www.nytimes.com/2018/01/05/nyregion/taxes-as-charity-new-jersey-towns-try-to-elude-gop-tax-law.html