Many In Livingston Feel 'Anxious' About Tax Reform: Report

LIVINGSTON, NJ — Are you worried about the possible effects of federal tax reform in Livingston? You may not be alone.

A recent New York Times article said of Livingston: “There are few places where people are feeling any more anxious about the potential impact of the federal tax bill.” (Read the full article here)

The report cited a recent Moody’s Analytics report that claimed Essex County homeowners – and especially those in Livingston - may suffer a big hit to their property values if the GOP-backed tax reform plan comes to fruition.

• See related article: Late-Night Senate Tax Vote May Be 'Disastrous' For New Jersey

According to Moody's Analytics, homes in Essex County are projected to lose about 10.5 percent of their value under the GOP plan, which was passed in the dead of the night earlier this month with little debate and no formal hearings. Experts say that the $1.6 trillion legislation includes tax cuts that will mostly benefit corporations and the ultra-wealthy.

• See related article: Senate Tax Reform Will Drag Down Essex County Home Values, Report Says

Those changes “loom like a dark cloud over Livingston,” where the average homeowner pays more than $15,000 a year in local taxes, the New York Times report stated.

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