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Bringing back the Belltable

first_imgWhatsApp Previous articleLimerick parking free from threeNext articleMinister pledges to improve services at 5B Rose Rushehttp://www.limerickpost.ieCommercial Features and Arts Editor at Limerick Post Print Email Twitter Facebookcenter_img A formal (re) launch will take place early 2016HAPPY new year to the Belltable Arts Centre. This busy film, visual art, theatre and professional development venue is set to abandon the cold salutation of No. 69 O’Connell Street and function again under its historic title.Under a new service agreement with Limerick City and Arts Council, Lime Tree Theatre will continue management and programming there in 2016, trading under ‘Belltable’.Sign up for the weekly Limerick Post newsletter Sign Up In a statement released this morning, Thursday  26,  we are told that the new Belltable will host a wide range of arts events that will extend and complement the programme at Lime Tree Theatre.The refurbished former Credit Union building (for years the then adjacent benevolent owner Sarsfield CU rented it for £1 annually to City Council for arts performance) will provide office space, rehearsal space, hot-desks and administration services “to emerging, mid-career and established artists who want to create, develop and make new work”.“This exciting revival of this significant venue means that it will once again be at the centre of arts development and practice in the city,” observed Sheila Deegan, Limerick Arts Officer and of #limerick2020. Linkedin Advertisement NewsCommunityBringing back the BelltableBy Rose Rushe – November 26, 2015 943 last_img read more

Does taxing the wealthy really drive them away?

first_img Tags Share via Shortlink Gov. Phil Murphy (left) and billionaire David TepperThis year’s spring housing market came a couple of months later than usual to the leafy suburbs of New Jersey. But it was worth the wait.Michele Kolsky-Assatly, a veteran agent with Coldwell Banker focused on Bergen County’s luxury market, has been busier than ever with the exodus of families from New York City. “They never want to be locked up in a high-rise again,” Kolsky-Assatly said. “Die-hard New Yorkers, hedge fund Wall Street businessmen who never thought they would leave the city, are leaving or have left.”If there were ever a time when a state could jack up income taxes on high earners without luxury-market brokers frothing at the mouth, this was it.Last month, New Jersey slapped its top marginal rate of 10.75 percent — which had applied to those earning more than $5 million annually — on households making as little as $1 million. The 20 percent rate bump is retroactive to Jan. 1. Pushed through by Gov. Phil Murphy, it will generate $390 million a year for the state’s Covid-battered budget.ADVERTISEMENT“The very high earners were already paying the high rate,” said E.J. McMahon, research director of the Empire Center for Public Policy, a think tank. “Now they’re hitting the mere million-dollar earners, who would be prime customers for luxury housing.”So-called millionaires’ taxes sometimes draw howls from sellers of high-end real estate. But this one drew no great protest, in part because the pandemic has already put the market for larger New Jersey homes into overdrive. Moreover, Kolsky-Assatly said, the state’s high taxes are well known to homebuyers.“The uptick of taxes on millionaires, I can’t see it hurting us, really, because the people that are buying are wealthy people,” she said. “I don’t know that that will take precedence over lifestyle.” Space and privacy are the needs of the moment. Before the coronavirus, young families were flocking to transit-oriented neighborhoods with walkable downtowns. Now, however, they are seeking out suburbs offering more space to work from home. Single-family homes with backyards are flying off the shelves. Mansions that had been out of favor in recent years are selling, too.“Lots and lots of people are bidding on houses,” said Gene Amsel, president of Greater Bergen Realtors, a trade organization serving 7,500 agents in Bergen, Hudson and Passaic counties. “Are they coming from New York City? Are they coming from Hoboken? Are they coming from other areas? Yes to everything.”From January to September, 595 New Jersey homes priced north of $2.5 million went into contract, up 67 percent year-over-year, according to Matawan, New Jersey-based appraisal firm Otteau Group.The volume of contracts on homes priced between $1 million and $2.5 million also surged, to 4,119, up 40 percent year-over-year. The increase was 31 percent for $600,000-to-$999,999 homes and 26 percent for $400,000-to-$599,000 homes. Contract signings for homes cheaper than that actually fell, by 4 percent.In other words, the more expensive the homes, the greater the percentage increase in sales this year has been. (See chart.)Upscale neighborhoods in eastern Bergen — such as Alpine, Tenafly, Cresskill, Demarest, Englewood and Englewood Cliffs — as well as Saddle River are among the popular destinations, Kolsky-Assatly said.“Tax policies at this point pale in comparison to the broader effect of the pandemic on the real estate market,” said James Parrott, director of economic and fiscal policies at the Center for New York City Affairs at the New School.People on the moveCritics of raising taxes on the rich warn that over time it will drive high earners to lower-tax states, depressing the luxury market. They note that moving is easier for the wealthy, who often already have homes in lower-tax states.“The class of people we’re talking about have a second home,” said McMahon. “At the very least they have a Florida home, and if they’re skiers, a Colorado home.”But advocates of millionaires’ taxes say wealthy families typically choose a primary residence based on what they want from their lives, not on tax rates.Take billionaire David Tepper. The hedge funder was the wealthiest person in New Jersey when he declared himself a resident of zero-income-tax Florida in 2015, prompting some New Jersey lawmakers to say the state’s top tax rate, which had risen to 8.97 percent from 6.37 percent in 1996, was scaring off the rich. (Tepper’s mother and sister were living in Florida.)But Tepper, who owns the Carolina Panthers, recently moved back to the Garden State. Upon his return, he reportedly called New Jersey Senate President Steve Sweeney and said the state could expect about $120 million in income taxes from him, according to media reports. Tepper could not be reached for comment.The millionaire’s burden New Jersey is hardly the first state to turn to millionaires during a budget emergency. New York enacted a new tax in 2009 to help fill a deficit caused by the financial crisis. The rate was set at 8.97 percent on all incomes above $500,000.The measure was slated to phase out in three years to make it more politically palatable for legislators, notably the Republicans who controlled New York’s Senate, and perhaps so high earners would be less likely to relocate. But rather than let it expire, legislators extended it in 2012, lowering the rate slightly to 8.82 percent and sparing taxpayers who earned less than $1 million. It was later extended twice more, most recently through 2024, wiping out any notion that it is “temporary.”But evidence that it would backfire has not materialized. Although Rochester billionaire Tom Golisano in 2009 changed his residency to his Florida home, declaring it would save him $13,000 a day, few magnates followed the Paychex founder’s lead, and revenue from high earners kept growing.The total tax liability of those earning $1 million or more annually rose from $15.9 billion in 2012 to $19.3 billion in 2018, the most recent year for which data was available, according to Freeman Kloppott, a spokesperson for the state Division of Budget.“Some people do move, but the net benefit to the taxing jurisdiction is that they see a pretty significant increase in revenue,” Parrott said of new taxes on high earners.The millionaires’ tax itself nets New York state north of $4 billion every year, not including what New York City reaps from its own income tax of nearly 4 percent. The combined city and state tax rate on high earners, approximately 12.6 percent, still exceeds New Jersey’s new rate by nearly 2 percentage points.New York last year also raised its mansion tax, which had been 1 percent for homes sold for more than $1 million. The change, applied only to New York City, adopted a sliding scale with the top rate of 3.9 percent for a home sale of more than $25 million. The city’s luxury market boomed during the first five or six years of the millionaires’ tax, then ebbed in the second half of the 2010s. Jonathan Miller, CEO of appraisal firm Miller Samuel and the author of Douglas Elliman’s monthly market reports, said the new mansion tax in particular caused a “significant drop-off in higher-end sales” in the city.“The reason for that is because the cost of living in that location became higher,” Miller said. Miller cautioned that while he understands New Jersey’s immediate fiscal needs, the tax may end up negatively affecting the state’s long-term financial health.“You’re going to drive away the higher-end tax base, which could have the impact of reducing demand for higher-end real estate, and taxes and other revenue that they generate for the state,” he said.But studies have found New Jersey’s and California’s taxes on the rich have a small effect on their location decisions, said Parrott, noting that the analyses predate the federal tax reform that took effect in 2018.His own review of the New York data found that after its millionaires’ tax was enacted, the number of high-income earners in the state rose in line with the increase around the country.“It shows there are certainly some people who move in the wake of those changes,” Parrott said of the body of research. “We cannot pinpoint exactly how many.”Unanswered questions Potential buyers who pay attention to tax policy have more to worry about than New Jersey’s expanded millionaires’ tax, the Empire Center’s McMahon noted. If Democrats capture the White House and Senate, they are sure to raise taxes on the wealthy, which is part of Joe Biden’s platform, he said.“Crucial aspects of tax policy as it affects those very people are completely up in the air now,” said McMahon.Even if people react to New Jersey’s latest tax hike, the market will eventually adjust, said Greater Bergen Realtors’ Amsel. He recalled the impact of the federal tax overhaul’s capping of the state and local tax deduction on federal tax returns at $10,000.When the SALT cap took effect in 2018, New Jersey’s luxury market slowed down for a while. It picked back up eventually, Amsel said, because families realized New Jersey’s public schools are still worth the fatter tax bills. If and when the nation brings the coronavirus under control, the state’s millionaires’ tax will become part of the calculus for wealthy buyers deciding whether to move back to New York City, according to Jeffrey Otteau, president of the Otteau Group.“At that point, the housing market will need to stand on its own two legs,” Otteau said. “The increase in purchasing demand in the suburbs is going to normalize. It’s going to slow down a lot. And the more urban real estate markets are going to recover.”— Erik Engquist contributed reporting Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink New Jerseytaxeslast_img read more

Weekly unemployment claims stay at high level

first_imgThere were 1,250 new regular benefit claims for Unemployment Insurance last week, as claims remain at a high level post Tropical Storm Irene. However, new claims decreased of 111 from the week before. Last summer’s historically low claims came to an abrupt end with the storm. The numbers then dropped signifcantly in the following weeks after the storm, but in the last several weeks there has been mostly an increase in the number of new claims. The latest numbers are more than double the initial claims observed in July and August.Altogether 8,469 new and continuing claims were filed, an increase of 1,356 from a week ago, but 2,876 fewer than a year ago. The Department also processed 1,585 First Tier claims for benefits under Emergency Unemployment Compensation, 2008 (EUC08), 201 more than a week ago. In addition, there were 675 Second Tier claims for benefits processed under the EUC08 program, which is 74 fewer more than the week before. The Unemployment Weekly Report can be found at: http://www.vtlmi.info/(link is external). Previously released Unemployment Weekly Reports and other UI reports can be found at: http://www.vtlmi.info/lmipub.htm#uc(link is external)  Vermont’s unemployment rate fell two-tenths in October to 5.6 percent. SEE STORY HERE.last_img read more

Lady Bulldog Linksters Win Over Lady Olympians

first_imgThe Batesville Lady Bulldogs defeated the Columbus East Lady Olympians at Hillcrest Country Club by a score of 171 to 182.Emma Weiler of Batesville and Harley Gant of Columbus East we’re co-medalist with a 1 over par 36.Other scores for Batesville. Josie Meyer 42 Rhea Miller 46. Tori Harpring 47 Madelyn Pohlman 55. Chloe Murphy 56.Courtesy of Bulldogs Coach Tom Meyer.last_img

Klopp admits Liverpool got ‘lucky’ against Fulham

first_img“Robertson didn’t sufficiently squeeze up and my player is onside and scored a goal. In one moment, a crucial moment, we go from one goal up to one goal down,” said Jokanovic.“In this country you normally can’t show some disrespect to referees but it’s a problem (when they) show disrespect to my team, myself, and the Fulham supporters.“The situation can be a little complicated but you must be sure to take this kind of decision.”Jokanovic admitted his team could have reacted better to Liverpool’s swift break but said it shouldn’t have existed in the first place.“We didn’t defend well this counter-attack but this counter-attack shouldn’t exist. It’s a completely absurd situation we have to defend.”Liverpool had created several reasonable chances before the opening goal — Sadio Mane, Salah and the influential Shaqiri all going close — but Fulham had almost scored first when Ryan Sessegnon capitalised on Joe Gomez’s mistake to close in on goal only to drag his shot wide.Klopp’s men went to the top of the Premier League, albeit they might be there for just a matter of hours depending on the results of matches involving champions Manchester City and Chelsea later Sunday.He was happy enough with Liverpool’s display, even though they were still far from their fluent best.“They played football but a lot of long balls and Mitrovic did outstandingly well in these situations,” said Klopp. “So that was tricky but apart from that I thought the boys did really well.“We created, we passed, we accelerated in the right moments and had big chances early with Sadio, with Shaq, with Mo in the box, when they blocked it last second, when the goalkeeper could make a save.“Apart from scoring more goals, it was a really good performance.”Share on: WhatsApp Liverpool, United Kingdom | AFP | Jurgen Klopp accepted his Liverpool side got “a bit lucky” after a controversial offside flag denied Fulham the lead in their 2-0 defeat at Anfield on Sunday.Under-pressure Fulham manager Slavisa Jokanovic hit out at what he described as an “absurd” situation after Aleksandar Mitrovic appeared to have headed the bottom-of-the-table visitors into the lead five minutes before the break.Celebrations were cut short by the offside flag, however, and a quick restart from Liverpool goalkeeper Alisson allowed Trent Alexander-Arnold to play in Mohamed Salah for his eighth goal of the season and his 34th in his last 36 games at Anfield.Just 14 seconds separated the flag and the Liverpool opener and when Xherdan Shaqiri stretched the lead with a delightful volley eight minutes into the second half the game was beyond the visitors.Klopp was unsure of whether the officials had been right to deny Fulham a goal but hailed the “brilliant” reaction of his Premier League title-chasers in turning the situation to their advantage.“I saw it once, I’m not sure if it was offside or not,” said the Liverpool manager. “We didn’t get a goal against Arsenal when we scored a clearer goal. I don’t want to compare it but you cannot change it.“The most important thing is reacting in a situation like that and that was brilliant. Ally, Trent, Mo and done, it was a fantastic situation.”The German boss also felt Andy Robertson had been impeded in the run up to Fulham’s disallowed goal and it was the Scottish full-back who could have played Mitrovic onside.“Good routine. At the end we were a bit lucky,” admitted Klopp.– ‘Disrespect’ annoys Jokanovic –For Jokanovic, there was no doubt that his side’s possible opening goal should have stood.last_img read more

WPB Fire Chief Talks About Crazy, Stressful Florida 911 Calls

first_imgThis week I talk with the West Palm Beach Fire chief Diana Matty about the stressful job of Florida 911 dispatchers and the crazy calls they handle.Also, what you need to know before you dial 911.Listen to Full Rigor Podcast here.The State of Florida is strategically focused on the safety of our residents and tourists. As such, the Department of Management Services and the E911 Board are working to transition Florida to Next Generation 911 (NG-911), which will allow 911 systems to receive all types of emergency communications, including voice, text, data, and multimedia information.Here is a brief timeline of 911 efforts:Since 1973, the State of Florida, in conjunction with local counties, has been funding technological advancements in statewide emergency number 911 systems to serve citizens and visitors in emergency situations. Basic service was established statewide in 1997.In 2005, 911 service was improved in all 67 counties with the implementation of wireline enhanced 911, “E911,” services to obtain the 911 caller’s telephone number and address.In 2007, the Wireless 911 Board transitioned to the E911 Board for Enhanced 911 Services. Enhancements for Wireless E911 Phase I service provides the call back number and the location of the cell site, and Phase II provides the location information for the cellular caller. This level of service was completed in March 31, 2008.Counties are currently working on technical, funding, and deployment issues in an effort to provide statewide text-to-911 services.last_img read more

Saints captain earns second player-of-the-week award

first_imgThe Selkirk Saints, and B.C. Intercollegiate Hockey League voters know a good thing when they see one.So it comes as no surprise that for the second time this season Selkirk captain Jordan Wood has been selected BCIHL Player of the Week.Wood led all BCIHL scorers last week with four goals and seven points, and helped the Saints to wins over Thompson Rivers University in Kamloops and Simon Fraser University on home ice in Castlegar. Friday against TRU, Wood scored shorthanded late in the first period and assisted on three other goals, including Kam Crawford’s overtime winner, to lead Selkirk to a 5-4 overtime win against the WolfPack. The next night with the Saints and SFU tied at 2-2 late in the third period, Wood scored a natural hat trick in the final 6:43 of regulation to propel his team to a 5-2 victory.The 22-year old leads all BCIHL scorers with 19 goals and 37 points on the season and currently holds a six-point lead over SFU’s Ben Van Lare in his bid for the league scoring title. Honourable mentions for the weekly award included Shawn Mueller (University of Victoria), Nick Babich (University of Victoria) and Nick Sandor (Simon Fraser University). Wood and the Saints (16-1-0) currently hold a five-point lead over SFU (13-4-1) for top spot in the league standings. The team’s magic number to clinch their first-ever BCIHL regular season title currently sits at 7 points. Selkirk hosts the University of Victoria on Saturday night at the Castlegar Rec Complex. Faceoff is set for 7:30 p.m.last_img read more