An astronomical jump in property taxes is forcing the mayor of Egg Harbor, New Jersey out of his home. Mayor James McCullough is facing this:
McCullough said he has been taxed out of his home by the local rates and by last year’s township-wide revaluation, which caused his property taxes to shoot up nearly 60 percent, to $31,056.
“It’s more than what I can afford,” McCullough said. “It’s kind of disappointing. I thought I would be able to live and die in my home, but it’s gotten to the point where it’s gotten up so high.”
So what’s he going to do if he can’t find a cheaper place?
In March 2012, he and his wife paid $150,000 for a 1,200-foot waterfront condominium in a North Palm Beach, Fla., high-rise. She spent most of last winter there, he said.
The taxes there? Just $2,569.
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