Tens of millions of dollars in real estate fees filed with county clerks' offices across the state are diverted to state and county budgets, causing lengthy record-keeping delays and constituting a hidden tax on homebuyers, a state commission has found.If this were a private business the Federal Trade Commission or the Justice Department would shut them down.But,the state of New Jersey doesn't seem to care about telling the truth,since they have a monopoly.
Despite an unprecedented jump in the number of real estate transactions and the enormous growth of recording and filing fees, county clerks have not been given the corresponding financial resources to do their jobs, according to a report released yesterday by the nonpartisan State Commission of Investigation (SCI).
Wednesday, August 17, 2005
Bait and switch in New Jersey
Who says taxes are going to go to what the state claims? The Star Ledger has this outrage from New Jersey: