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Joe Downey is a tax professional based out of Mount Olive, NJ.Other towns should take Montville's lead when it comes to property tax relief. The Montville library board of trustees has secured state permission to give the municipality $237,022 in library surplus for property tax relief, and doing so willingly. This is called a short ceremony of transfer. It's a shame more towns and their libraries can't try to solve this problem themselves. It's refreshing to see Montville working this out itself. Many municipal libraries in New Jersey are funded through an ancient system in which they are guaranteed a steady stream of tax money. This is "one third of…
According to an article in the Daily Record, a Parsippany resident who went to prison in 2004 for allegedly stealing $35,900 from a Montville attorney was indicted earlier this year on charges of allegedly posing as her daughter to obtain credit cards. Stephanie Yturbe was sentenced in 2004 to four years in state prison for allegedly stealing from her employer, a Montville attorney, and was released after serving about nine months. She also has a conviction for stealing $3,220 in 2001 from an attorney she worked for in Morristown, according to court records. The charges allege that Yturbe in …
The Obama administration has announced that New Jersey will receive $112.2 million to help homeowners struggling due to unemployment through two targeted foreclosure-prevention programs. Through the existing Housing Finance Agency (HFA) Innovation Fund for the Hardest Hit Housing Markets, the U.S. Department of the Treasury will make $2 billion of additional assistance for HFA programs to help unemployed homeowners who are delinquent on their mortgage payments. In addition, the U.S. Department of Housing and Urban Development (HUD) will soon launch a $1 billion Emergency Homeowners Loan …
The police union in Montville has negotiated concessions to prevent layoffs. Recent agreements include changes to overtime pay, health care and other benefits. Facing mounting pressure from cash strapped municipalities, police unions across the state have started making similar concessions to save officers' jobs. William Dressel, executive director of the New Jersey League of Municipalities, told the Star Ledger that such situations are seen as a win-win that signal a change in attitude among unions. In the same article, however, Anthony Wieners, President of the state Police Benevolent …
Montville is a very special place to live, enriched with all different kinds of people. Nothing says that more than Montville Pet Parents, an all-volunteer, non-profit corporation dedicated to taking care of abandoned animals. Formed in 2005 by area residents who were worried about the conditions at the aging Montville animal shelter facility, built in the 1970's. Montville Pet Parents, Inc. primary goal is to raise money toward building a new shelter in Montville Township, funding the effort though grants and donations from individuals and corporations. These types of non-selfish acts show …
Every year, the Montville Township education association issues awards and scholarships to students who have displayed outstanding academic achievement and leadership. Two students at Robert R. Lazar eighth grade graduation, Jianying Lu and Sandra Jiang, received the MTEA Academic Achievement Award.The award is issued to students based on their SAT scores; ASK test scores, grade point average, and teacher recommendations. The scholarship is awarded to a high school senior who is committed to pursuing a degree in education at the college of their choice,. The lucky senior this year is Jasmine …
Montville is losing its longtime finances manager this weekend. Frances Vanderhoof, 75, will be retiring on Aug. 1. Vanderhoof has been with the township since 1975, serving the last 22 as Montville's chief financial officer. "She's been a tremendous asset for us," mayor Jim Sandham said. "She's always put in the extra effort." When Montville started to advertise for the position in late June, there were talks that Montville would share Lincoln Park's Chief Financial Officer, Kerry Geisler. The concept had been pitched as a way to save money for both Lincoln Park, a borough of about 11,000 …
The $5.1 million grant from the American Recovery and Reinvestment Act, commonly known as the stimulus package that President Barack Obama signed in 2009, calls for adding workstations and improving Internet connections at 125 libraries statewide. In addition, some 365 libraries in the state will receive funds to provide job search help and workforce development programs. 22 of the 30 local libraries in Morris County will benefit from this federal grant that will go toward adding new programs to help people search and apply online for jobs, including the Montville public library. The …
Mortgage refinancing is an issue that Montville residents might want to ask themselves today. Now that their township has a received a AAA rating from Standard and Poor, a lot of lenders would be happy to work with the citizens responsible for that rating. The benefits in refinancing are numerous: not only could it give you more to live on month to month, but it could also save you thousands on your mortgage in the long run. A recent survey showed that more then half of home owners are either paying too much for their mortgages or are locked into mortgages that are clearly unsuitable for …
In New Jersey today, there are 59,822 pre-foreclosures and 4,770 foreclosures. Morris County accounts for 2,242 pre-foreclosures and 128 foreclosures. Out of these, Montville is responsible for 34 of the county's foreclosures. The township has 3,778 total households, a population of 10,531 and a medium income of $100,213. It is considered a strong community with a healthy financial base. Even with all this, it is still not immune to the foreclosure epidemic that continues to cross the country. New Jersey is known as an "alien theory" state, where property acts as security for an underlying …
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to the Township of Montville, which creates a stable outlook for the Township. This is in reference to the township's series 2010 general obligation (GO) refunding bonds and affirmed its 'AAA' long-term rating and underlying rating (SPUR), with a stable outlook, on the Township's current general obligation debt. A general obligation bond is a municipal bond backed by the credit and "taxing power" of the issuing jurisdiction rather than a revenue bond, which is also a municipal bond backed by revenue from a given project, …
According to papers filed in Newark Federal Court, Teresa Giudice, star of "The Real Housewives of New Jersey," and husband Joe claim to only make $79,000 a year and have filed for bankruptcy protection. The court document lists their finical woes in detail: besides taking their houses at the Shore and in Lincoln Park, the bank has moved to foreclose on their $1.8 million home in Towaco. They've defaulted on payments for their Escalade and Mr. Gudice personally owes $5 million to former real estate partners. Despite owing $10.85 million to creditors, Mrs. Giudice has claimed she looks at …
