“It doesn’t make it a great practice, but it’s often necessary to meet competing demands,” said Pfeiffer, one being “sometimes” an interest from officials in keeping taxes low.
Topic
real estate
Which North Jersey town is most expensive? Highest average property tax in Bergen, Passaic
But shared services often yield savings only on a case-by-case basis at the local level rather than statewide, said Rutgers’ Pfeiffer, while Ciattarelli’s proposal for an alternating property tax rate could run afoul of the state constitution.
“You can’t give some people a lower rate than other people,” Pfeiffer said. “You have to assess everybody at the same standard.”
Can Trump tariffs, state aid spur NJ manufacturing resurgence? There are many hurdles
By 1943, over half of the jobs in New Jersey were manufacturing, said James Hughes, an economist at Rutgers University in New Brunswick.
The Housing Market Was Built for a Baby Boom. What Happens in a Baby Bust?
“Housing, I think, in terms of facing contraction, is still pretty far off,” says Hughes. But while demand might hold, it will likely be for a different kind of housing entirely.
Parsippany office building, part of a ‘dying breed,’ sells for $10.2 million
James Hughes, an economist at Rutgers University, told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.
Notes from Central Taiwan: Taiwan’s urban ‘planning’: from crisis to crisis
A Rutgers-based scholar, Mi Shih (史宓), has written a series of papers on planning and the conversion of the domestic economy to a real-estate based economy.
Unilever to move headquarters out of Englewood Cliffs next year
Suburban office campuses more broadly have switched to urban corporate centers in places like Manhattan, Jersey City and Hoboken, a reversal of the trend seen in the 1980s, said James Hughes, dean emeritus of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.
An uneven recovery? NAIOP panelists see different paths for different asset types in 2024
Rutgers professor Will Irving was less sanguine about the office market and the state’s economy. With respect to a hard or soft landing, he said, “it’s still a landing, and the landing that we’re seeing in New Jersey is a little ahead and a little harder than we’re seeing elsewhere.”
Jersey Shore workers struggle to find middle-class homes
“We know there is a shortage, a significant shortage of affordable housing in New Jersey, but the middle class is getting squeezed as well,” said Will Irving. “And it’s getting harder and harder for young families to afford to buy a house.”
NAIOP New Jersey to host annual meeting, commercial real estate outlook on Jan. 25
Will Irving will present on the panel of industry experts discussing the connection between local economic trends and the state’s commercial real estate sector.