Let's talk about millionaires not paying their fair share, shall we???
John Bonjovi and Bruce Springsteen to name a couple
MYFOXNY.COM - Bon Jovi and Bruce Springsteen have been making hit music for years and its no surprise that they've earned enough money to buy big mansions with acres of property, but what might surprise you is the huge tax breaks they, and others, are getting.
It turns out, as far as New Jersey tax collectors are concerned, that they are farmers.
Almost a million acres in New Jersey are certified as farmland. Owners who own at least five acres, practice some kind of agriculture, or manage the trees on their property and sell $500 worth of goods a year qualify for a significant tax break.
They do have to pay the full taxes on their homes, and non-farm property.
Through a trust, Bruce Springsteen owns more than 200 acres in Colts Neck. the taxes for his house and three acres are more than $138,000. But because of the farm tax break, the tax bill on a little more than 200 additional acres is less than $5,000. Town officials say he has horses and an organic farmer working some of the land. A lawyer for the trust had no comment.
In another part of Monmouth County, Bon Jovi has an estate on the Navesink River. Taxes on the mansion and some property add up to $295,68 but his tax bill on an additional 6.85 aces is $104 because he raises honeybees.
A spokesman for Bon Jovi issued a statement saying, "Jon is scrupulous about paying his fair share of taxes. The exemption for raising honey bees existed long before he purchased that land, and he continues to employ a beekeeper and raise honeybees..."
Farm Tax Breaks for N.J. Celebrities
Small wonder these folks support Obama. Whatever happened to "Tax me more Mr President......please".
Maybe New Jersey needs to change its law regarding taxing farms. You'd support that, right?
I don't give a flying fuck. I'm just pointing out the outright hypocrisy.
If they want to cut their own throats more power to them.