5 minute read
Realtors ® Q&A Meet the Decision Makers SENATOR JAMES BEACH
Welcome to our series, Meet the Decision Makers, where we interview key decision makers on their influential role within New Jersey. For this issue, we have Senator and Chair of the State Government, Wagering, Tourism & Historic Preservation Committee James Beach. His verbatim responses are italicized below. Do you have an idea of someone you’d like to see us interview? Email editor@njrealtor.com
The state of New Jersey is rich in diversity, geography, cuisine, businesses and much more, but the foundation of New Jersey culture is built upon the history of the state. Do you think preserving access to our history helps define New Jersey’s present and our future?
While the diversity of people and places in New Jersey is, of course, one of our biggest assets, it is our shared history that ties us together. Preserving our history is critical to understanding who we are as a state and where we are headed. New Jersey’s diverse cultural heritage, pivotal role in the Revolutionary War, and its legacy as an industrial and innovation hub are all essential elements of our identity. By maintaining access to our history through historic sites, educational initiatives, and even museums, we instill pride in our residents and inspire future generations to contribute to the state’s growth while honoring and reflecting on our roots.
What kind of programs exist for helping preserve and maintain historic homes that could be beneficial for Realtors® to know about?
New Jersey has many ongoing programs that are actively working to preserve and maintain hundreds of historic homes and landmarks.
The New Jersey Historic Preservation Office, which offers guidance on restoring and maintaining historic homes, is perhaps one of the most valuable resources. The state also provides various funding opportunities, such as the New Jersey Historic Trust grants, which help homeowners finance the rehabilitation of their historic properties. There are also federal initiatives, like the Historic Tax Credit Program, that provide financial incentives for preserving properties listed on the National Register of Historic Places. By knowing about these programs, realtors can better help their clients preserve the rich history of their homes.
What do you think is the most interesting historical fact about New Jersey?
I find it very interesting that New Jersey was home to more Revolutionary War battles than any other state. It played a crucial role in securing America’s independence, earning the title of “Crossroad of the American Revolution.” George Washington’s famous crossing of the Delaware River in 1776, followed by the pivotal victories at Trenton and Princeton, demonstrates the state’s significant contributions to our nation’s founding. Across the region, there are still hundreds of colonial homes and Revolutionary sites that people can visit.
Are there any bills or legislation you’ve worked on during your tenure that you felt significantly impacted the current landscape of New Jersey?
One of the things I am most proud to have worked on is securing over $16 million in funding for the aforementioned New Jersey Historic Trust. Over the past four years, this money has gone to restoring historic sites in municipalities across the state. From Jersey City to Trenton to Cape May, this legislation helped to ensure that New Jersey’s historical sites would remain in pristine condition so that they could be accessed and enjoyed by all residents. In restoring these sites, we are also contributing to the revitalization of these areas and ushering in modern development. As a result, our past is meeting the present to create a better future for New Jersey.
A4839
Schnall (D31)
Increases threshold from $1 million to $1.65 million for imposition of certain fees and taxes on certain real property transfers.
New Jersey Realtors® Position: SUPPORT
We support this bill raising the threshold to $1.65 million on the portion of the realty transfer fee currently charged to those purchasing properties sold for over $1 million.
Bill History:
9/23/2024—Introduced in Assembly and referred to Assembly Housing Committee
Acr58
Murphy (D7), DeAngelo (D14)/SCR81—
Singleton (D7), Cruz-Perez (D5)
Proposes constitutional amendment to increase amount of veterans’ property tax deduction from $250 to $2,500 over four years.
New Jersey Realtors® Position: SUPPORT
We support this resolution proposing a constitutional amendment to assist veterans’ in paying their property taxes given the high cost-of-living in New Jersey and their service to the country.
Bill History:
1/9/2024—Introduced in Assembly and referred to Assembly Military and Veterans’ Affairs Committee
1/29/2024—Introduced in Senate and referred to Senate Community and Urban Affairs Committee 6/17/2024—Reported out of Senate committee and referred to Senate Budget and Appropriations Committee
A4873
Lopez (D19)
Authorizes residential tenant action in cases of alleged unconscionable rent increase; appropriates $2 million.
New Jersey Realtors® Position: OPPOSE
We oppose this bill creating a new legal action against landlords given the impact it could have on smaller landlords in New Jersey and the costs associated with owning a rental property.
Bill History:
9/26/2024—Introduced in Assembly and referred to Assembly Housing Committee
A3169
Tucker (D28), Marenco (D33)/S3084—Cryan (D20)
Allows property tax rebate for disabled veterans.
New Jersey Realtors® Position: STRONG SUPPORT
We strongly support this bill recommended by the Military and Veterans Presidential Advisory Group to make it more affordable for veterans to be able to stay in their homes because of the high cost-of-living in New Jersey.
Bill History:
1/9/2024—Introduced in Assembly and referred to Assembly Military and Veterans’ Affairs Committee 4/11/2024—Introduced in Senate and referred to Senate Military and Veterans’ Affairs Committee
6/13/2024—Reported out of Senate committee and referred to Senate Budget and Appropriations Committee
