Submitted by swimteam69 t3_ybxev9 in Newark
swimteam69 OP t1_itja1ph wrote
Reply to comment by mrkirlew in Rant: Newark rent is too expensive for what it is worth by swimteam69
Exactly, Newark has a prime location with being by NYC but we struggle to either be in our own city and being in nyc shadow. I think it is a good relationship, leverage the location to NYC but develop to be our own.
sutisuc t1_itm6utq wrote
This is honestly Newark, and NJ’s, blessing and curse. We’re so close to NYC so we can take advantage of the jobs, entertainment, culinary options, etc. But then there’s much less of an investment in our own cities because so much of peoples time, money, energy, etc is put into NYC and then people who aren’t from these cities have very little attachment to them.
On top of this because a good chunk of the “new” residents moving into Newark work in NYC the state and city are not seeing any of that tax money so you get new residents but they don’t actually pay in any money to the tax coffers (unless they pay property taxes). So NYC get the benefit of having white collar (and even blue collar) workers who pay into their taxes without having to deliver as much in the way of services and not housing people, while Newark has to provide service, housing, etc for people who work and spend a lot of money elsewhere.
ahtasva t1_itm8lye wrote
NJ and NYC have a tax treaty that provides for some kind of claw back in favor of NJ in this instance. Also, as along as you live in NJ and are not homeless you are in effect paying property taxes. Does not matter if you rent or own.
sutisuc t1_itm8xmo wrote
Nah you just get a credit on your taxes to NJ based on what you pay to NY so you’re not double taxed, NY is not giving any of that money back to NJ LOL.
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