Q: I heard they may roll back the property tax deduction limitation from the last tax bill. Is that true? What will the impact be on New Jersey real estate? Henry, Sayreville, NJ A: SALT stands for state and local tax. The 2017 tax reform bill capped SALT deductions at $10,000 so rolling back the SALT deduction limits would impact residential real estate in New Jersey particularly in North Jersey where property taxes are higher. In fact, six NJ Counties have property taxes that on average exceed $10,000 per year. Property taxes aside, the pandemic made many suburban locations more appealing to home buyers and if the SALT Deductibility Act is passed it will restore the pre-2017 deduction. If passed, […]
continue reading Q: Does it make a difference what I use to remove snow around my property? Calvin, Parsippany, NJ A: The 2 main snow and ice removal agents people use are rock salt and calcium chloride. The only real advantage of using rock salt over calcium chloride to remove snow and ice is that rock salt is a little cheaper. However, calcium chloride offers several advantages over rock salt: One of the most obvious advantages is that calcium can be effective at much colder temperatures than rock salt. Rock salt loses its effectiveness at temperatures below 15 degrees Fahrenheit. Also, rock salt poisons soil, damages trees and other vegetation, and damages concrete. For these reasons, I recommend using calcium chloride over […]
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