Shh! - You Could Triple Your Money Easily with Hopatcong Tax Lien Certificates
Few people realize that Tax Liens listed on Town’s Financial Budget is not a banking instrument of obligation. Along with those late night buying gold commercials you will find another promise for easy money - buying tax liens. Like buying gold, you can directly purchase tax lien certificates which now are comparable to a stack of gold bullion, but issued by your own municipal government. But unlike the volatile gold market, the tax lien market has a fixed high secure rate that even banks can’t offer. These rates can be 12% and even higher that is set not by the Federal Bank, but by your own local government. Besides getting a guaranteed high rate on your investment, you may also claim ownership of the properties attached to the tax liens you buy at enormous discounts. There is very little risk in investing in tax liens. It is fabulous deal for anyone who has the cash. This is strictly a cold cash transaction. Only the few wealthy have this type of cash lying around. Hopatcong tax sale auctions are one of the best investment vehicles in town, because of their state mandated fixed returns and also secured by real property. Unfortunately, most living in Hopatcong are on the opposite cash end with loans and credit card debts and may even have their own home held in jeopardy of tax lien indebtedness.
Understanding what Tax Liens Certificates are, it becomes clear why the wealthy investor will not buy real estate in Hopatcong at the listed market price. This would be foolish, when investing in Tax liens Certificates almost guarantees a liquidation sale on some prime pieces of real estate. It is just a matter of waiting for the right property to come along and opening up the cash drawer. With Hopatcong faithfully hiking taxes upward each year and the incomes of its homeowners spiraling downward, it is a Town that provides a perfect environment for Tax Lien Certificate opportunities. The added bonus is that Hopatcong isn’t just any town – it is a Tax Lien Town by a Beautiful Lake only 42 miles from New York City. An important fact to know -New York City is the billionaire capital of the world. Hopatcong tax liens are fair game to anyone with cash. What an ideal situation for that Tax Lien Certificate to become a lakefront vacation home very close to an exclusive hunting club. An unsatisfied tax lien by the home owner turns into a really great real estate red tag sale for the smart investor.
Sitting through the informative PowerPoint presentation of our Town Budget presented by Paul Lerch, of Lerch, Vinci & Higgins, many of us got to see some neat pie charts. But, did most of the audience understand the accountant speak regarding that sliver on the pie chart called “Tax Liens”? This piece of the pie has a future impact on the value of Hopatcong property since the probability is this slice will become auctioned property. During this presentation some criticism was given on those folks who sought a tax reassessment to reflect their declining home value and how their tax reduction added to everyone’s increased tax bill. Not discussed were the factors the drove Hopatcong home values to plummet.
It seems the best way to find a great presentation on tax liens and real estate foreclosures is to watch the infomercials on late night TV.
If you had the cash would you invest it in Hopatcong Tax Lien Certificates? Too bad there isn’t a PowerPoint presentation offered at the Senior Center. I’m sure it is a group that would like to know how to get a better rate than what the banks are offering on their retirement investments. Investment tips like this one would truly make this a “Golden” Brunch Club. For now this prime investment instrument has become a hidden real estate secret to the well off in our community.
The Watcher
2:09 pm on Thursday, May 3, 2012
WOW is there a listing of these properties and the amount of the tax lien(s)? Happen to see your picture or would not have noticed this article. A person might think the powers that be (mayor and council) might not care if the town goes into bankruptcy.
Roll Back Our Tax
8:01 am on Friday, May 4, 2012
Yep there certainly is a list but you have to be a subscriber of www.foreclosure.com.
Hopatcong is in deep financial trouble. Currently there are 1,430 tax liens in Sussex county. Of that number 210 are located in Hopatcong or 15%. The most of any town, borough or township in Sussex county..
Starting at #336
http://www.foreclosure.com/search.html?ps=50&q=&ob=asc&dty=&o=ci&tab=t&cno=037&ntv=&xtv=&pmap=true&st=NJ&ay=&pg=7
and going to #546
http://www.foreclosure.com/search.html?ps=50&q=&ob=asc&dty=&o=ci&tab=t&cno=037&ntv=&xtv=&pmap=true&st=NJ&ay=&pg=11
Everyone thinks the Kellogg (Hudson Farms) Foundation is good for the community.
http://www.hudsonfarmnj.com/
First of all their hunting club gets a tax break because it's "recreation land" tax exempt. So they pay NO property taxes.
But they give donations to municipalities to "buy" influence which are tax deductable.
http://www.hudsonfarmnj.com/charities.htm
Why should you be concerned? If you have the cash (like members of this Hunting Club do) they are looking for valuable lakefront property. How nice would it to be able to snatch one of these up in a tax lien sale and be so close to your favorite hunting club? Who knows about these tax lien sales? Your own Borough Attorney John Ursin who you pay your tax dollars to who defends the borough against your tax appeals. He only wants you have to give up your property to the borough if you can no longer pay the 5-6% property tax increases. LOL!
Michele Guttenberger
4:39 pm on Thursday, May 3, 2012
The Township of Hopewell NJ gives some great instructions on Municipal Tax Liens.
http://www.hopewelltwp.org/tax_municipal_lien.html
Think you can find the same instructions on hopatcong.org? Maybe we can submit our questions about Tax Liens to the Mayor and Council and they can provide the same type of PowerPoint presentation that they had the Accountant do. They can use their favorite realtor that specializes in Hopatcong foreclosures properties. I saw one Remax agent attending a Town Meeting and having a group discussion with attendees in the back of the courtroom. Maybe this person can give a presentation at our next Town Council meeting. Think they will go for it?
Shouldn't everyone get an education on this investment instrument that impacts the financial welfare of our town. I know I would like to hear as much info on this as their discussion of temporary deer fences.
The Watcher
12:03 am on Friday, May 4, 2012
I think that's a great idea! The mayor and council keep saying they want to keep the residents informed so why not educated and informed. We can buy up the tax liens then when we end up owning the property we can move into that house (maybe nicer than the one we own) at a lower tax rate. Find this info on the Hopatcong.org web site that's a good one. Maybe in your dreams Michelle. Power Point? Only if it's in color ! Hope you keep on keeping us informed.
Michele Guttenberger
12:59 pm on Friday, May 4, 2012
Randy - I find it very interesting that recreational land is tax exempt. What a great arrangement for Hudson Farms. So why is their hunting club membership costly? I am assuming this, because I don't know too many Hopatcong residents with an affiliation to this "Tax Exempt" compound. Do you? Does this recreational tax exempt status mean open access to the public? I have not seen any ads asking locals to join in expect for that special charity hiking day. Makes me wonder if the Charity hike was really that charitable. Viva La 1%
Interesting
8:22 am on Monday, May 7, 2012
I too find it very interesting how Randy, Michelle and others can continue to use this forum to spread continuous lies. I see that our own local version of the Enquirer is alive and well. Randy.. Please, for once... Please, be honest with the public... Hudson Farm is not Tax Exempt... I believe that if you do some research you will find that The Hudson Farm is one of the top few tax payers of Hopatcong and use no public services.... But Randy... We know this is all about you... You have said as much... Enjoy your own land of make believe here on the forum....
The Watcher
11:10 am on Monday, May 7, 2012
Well "interesting" how much does Hudson Farms pay in taxes? Do they have their own fire and police departments? Seems all the "charitable" donations that he takes off his taxes (and comes out of the taxpayers pockets) adds up to a hefty sum. Twsp of Byram Police dept got $82,400 and Hopatcong Police only got $39,600 (since 2004) and to think our town lawyer is his lawyer. According to the mayor the town used part (or all) of his donation to the police department to fix up the courthouse. Maybe we can get a donation to fix the roads, oh wait he has a helicopter pad doesn't he?
The Watcher
11:36 pm on Friday, May 4, 2012
Doesn't he get to take it off his taxes? Isn't our town lawyer his lawyer? I've been told he holds some kind of gun training/ marksmanship for the police and the police cadets. Cozy arrangement all the way around
Michele Guttenberger
2:36 pm on Monday, May 7, 2012
Interesting - your comment stating that I lie on my blogs could be further from the truth. My blogs need to be approved for accuracy before they are posted on Patch. I also believe in ethically reporting. I have spent many years in Corporate Communications and take accuracy of what I report very seriously. However, I also have had blogs rejected by Patch if they felt my statements may be misleading or could be misinterpreted and was asked to produce further clarification.
Brendan Kuty
12:16 pm on Thursday, May 10, 2012
Randy, Hudson Farms actually paid $4.135 million in property taxes last year. For its land, $462,300. For it's structure, $3,673,000. Just a heads up.
Roll Back Our Tax
12:53 pm on Tuesday, May 29, 2012
Brendan...here's what John Ursin said in an email to me.....
On Mon, May 28, 2012 at 10:33 AM, John E. Ursin <JEU@ckclaw.com> wrote:
Hudson Farm is one of the top five taxpayers in the Borough of Hopatcong.
The case you refer to as been concluded for two years.
http://classifieds.njherald.com/printerfriendly/06HUDSONFARM
It did not involve any land in the Borough of Hopatcong.
I am not Involved in any legal matters between Hudson Farm and the Borough.
John E. Ursin
Courter, Kobert & Cohen, PC
Anyone care to comment?
Then you have this....
http://www.nj.gov/dep/fgw/pdf/2011/hudson_farm_dep_response.pdf
Should Bunce have made a public comment and then serve as unbiased Councilman of our town on Hudson Farm issues?
BTW....Summary of Public Comments and Agency Response:
A total of 425 individuals submitted written comments on the issuance of the CSP
license to Hudson Farm.
209 individuals supported the issuance of a CSP license (49% of total comments).
152 of those letters in support of the CSP license were form letters.
A total of 216 individuals opposed the issuance of a CSP license (51%).
163 of the letters received opposed to the issuance of a CSP license were form letters.
One commenter was neither opposed to nor supportive of the Division issuing a CSP license to Hudson Farm.
Roll Back Our Tax
3:09 pm on Tuesday, May 29, 2012
Brendan....just a heads up. Sorry for the late response. I needed to check my information on line and with others that know this farm better than I.
It's recreational property and a large portion of it is "open space" described as "woodlands".
http://www.nj.com/news/index.ssf/2010/02/sussex_county_preserves_hudson.html
"A dozen years ago, billionaire investor/philanthropist Peter Kellogg bought the former Hudson Guild Farm in Hopatcong, which had been a charity fresh-air farm for the prior 50 years, and converted it into a semi-private target/instruction course and private commercial hunting preserve gun club catering to wealthy clientele".
As a matter of fact that address doesn't even show up on Zillow under Andover, Andover Twp, Byram Twp or Hopatcong..
http://www.zillow.com/homes/270-Stanhope-Sparta-Road,-andover-twp,-NJ-07843_rb/
http://www.zillow.com/homes/270-Stanhope-Sparta-Road,-andover,-NJ-07843_rb/
http://www.zillow.com/homes/270-Stanhope-Sparta-Road,-hopatcong,-NJ-07843_rb/
http://www.zillow.com/homes/270-stanhope.dash.sparta-rd,-byram-twp,nj_rb/
This is rather peculiar because all properties that pay taxes have a history on this site. There are no exceptions and all the properties in that area that are paying tax have been accounted for on the map EXCEPT Hudson Farms. There is NO home icon.
Roll Back Our Tax
11:29 am on Friday, May 25, 2012
Oh wait a minute they did pay something.
The walking trail was $258 dollars and 33 cents for LOT #9. Here is the results link
http://www.bergendispatch.com/property/sussex/PropertySearch.aspx?Municipality=ALL&Owner=KELLOGG&Address=
JenniferB
11:31 am on Friday, May 25, 2012
I love a good Google challenge so I had to look. I came up with:
http://www.bergendispatch.com/property/sussex/property.aspx?id=1912|60001|7
which also led me to:
http://www.bergendispatch.com/property/sussex/PropertySearch.aspx?Owner=MMK+REINSURANCE%2c+LTD&Municipality=ALL
When I Google MMK REINSURANCE, LTD, I get:
http://www.usa.com/frs/mmk-reinsurance-ltd.html
160 Roseville Rd
Andover NJ, 07821
Sussex County
Of course it doesn't show what was paid but I just found it all interesting.
Michele Guttenberger
8:01 pm on Friday, May 25, 2012
JenniferB - do the same search on the Borough of Hopatcong and you will see all the property they own including property they acquired through tax foreclosures.
Roll Back Our Tax
12:42 pm on Friday, May 25, 2012
JenniferB....It's all interesting like "interesting" commentator above. Good friend of the mayor?
JenniferB
7:07 pm on Sunday, May 27, 2012
Uh no, it's interesting from a business standpoint. I'm assuming all this land belongs to a corporation not a person. I don't understand all the different names being used.
Terry Bond
2:03 pm on Friday, May 25, 2012
While Brendan's numbers may not have been accurate (he listed the accessed value as the taxes paid), it does look like Hudson Farm pays $85,683.42 in taxes on that piece of property. Here's the link http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=1912&l02=191250002____00007_________M
Terry Bond
2:30 pm on Friday, May 25, 2012
Sorry assessed, not accessed.
Roll Back Our Tax
2:30 pm on Friday, May 25, 2012
I see assessment value of $4,135,300 but I don't see tax value of $85,638.42.
Also, is see they set up the tax shelter in Bermuda. Looks like they had Mitt Romney as their advisor.
Terry Bond
2:35 pm on Friday, May 25, 2012
It's under the Additional Information section further up the page, last line, right column.
Roll Back Our Tax
2:39 pm on Friday, May 25, 2012
Let me do a little investigating with my tax attorney because the tax code 10/25 concerns me. Also, because they're set up in Bermuda, concerns me even more.
Roll Back Our Tax
5:40 pm on Friday, May 25, 2012
Here's the answer to the Bermuda inquiry which I knew already.
http://www.lowtax.net/lowtax/html/bermuda/jbretax.html
"There are effectively no taxes on business in Bermuda, apart from annual fees (depending on capital) of BMD2,000 or more, and no personal taxes either apart from a payroll tax on employees. Therefore businesses can plan to locate part or all of their operations in Bermuda without local taxation worries, although it must be said that Bermuda is an expensive place, so that if significant staff or premises are going to be needed, costs should be checked out carefully in advance".
The lawyers and politicians (who have legal background) write the tax code in their favor. Tax shelters, off shore businesses, etc ONLY to be enjoyed by the ULTRA wealthy are crippling this country. Yet they want us middle class grunts to flip the bill. John Ursin is one of them. So the next time you're down at the tax assessors office, ask Therese DePierro the tax assessor how you can get "tax exemption" status for your property. I am think about starting a "fishing club" open to the public on mine.
Roll Back Our Tax
5:29 pm on Friday, May 25, 2012
Ever wonder why this country or this Borough is going broke. If you look on the description of Hudson Farms property on link below, you will find word "CAMP".
http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=1912&l02=191250002____00007_________M
Why is this significant? Besides Hudson Farms paying NO income tax, the CAMP status give them other tax exemption status too. Don't believe me?
http://www.nj.gov/dep/greenacres/pdf/taxexstatute.pdf
Under tax code N.J.S.A. 54:4-3.63 et seq. P.L. 1974, Chapter 167 it states...
"The Legislature hereby finds and declares that natural open space areas for public recreation and conservation purposes are rapidly diminishing; that public funds for the acquisition and maintenance of public open space should be supplemented by private individuals and conservation organizations; and that it is therefore in the public interest to encourage the dedication of privately-owned open space to public use and enjoyment as provided for in this act"
Hudson Farn has "open space".
Roll Back Our Tax
12:11 pm on Tuesday, May 29, 2012
Under 54:4-3.64 of that code it states...
All lands and the improvements thereon actually and exclusively used for conservation or recreation purposes, owned and maintained or operated for the benefit of the public by a nonprofit corporation or organization organized under the laws of this or any State of the United States authorized to carry out the purposes on account of which the exemption is claimed and which is qualified for exemption from Federal Income Tax under Section 501(c)(3) of the internal revenue Code shall be exempt from taxation; provided, however, that the Commissioner of the Department of Environmental Protection certifies that the real property and the property owner are qualified under the terms of this act.
Hudson Farms is a nonprofit organization.
Under 54:4-3.67 of that tax code it states....
The Commissioner of the Department of Environmental Protection shall on or before September 15 of the pretax year certify that a property owner and the real property for which an exemption is claimed are qualified under the terms of this act and that a tax exemption would be in the public interest. The Commissioner shall forthwith deliver such certification to the property owner and the tax assessor of the taxing district in which the real property is located.
Roll Back Our Tax
4:41 pm on Sunday, May 27, 2012
I will say this John Ursin sure keeps good company....
http://www.finra.org/Newsroom/NewsReleases/2003/p002851
NASD Charges Peter Kellogg with Fraudulent Wash and Matched Trades
Washington, DC – NASD announced today that it filed a disciplinary action against Peter Kellogg, senior partner of Spear, Leeds & Kellogg, L. P., alleging that Kellogg directed fraudulent wash trades and matched trades between four accounts he controlled.
The NASD complaint charged that between Aug. 1, 2001, and Aug. 13, 2001, Kellogg placed matched orders to buy and sell millions of shares of Thoratec Corp. common stock for four accounts he controlled, and in which he and his family had ownership interests. These trades resulted in minimal change of ownership in the shares of Thoratec, were executed at prices unrelated to market supply and demand, and created the false appearance of market activity in the stock. Kellogg indicated to NASD he directed these trades to recognize non-taxed capital gains in Thoratec stock held by I.A.T. Reinsurance Syndicate, Ltd., a Bermuda corporation owned by Kellogg's children, and Equity Holding, Inc., whose parent company, MCM, Inc., was owned in part by IAT. Kellogg also indicated that the trades were directed between accounts he controlled so that IAT and EH could recognize non-taxed gains while the accounts Kellogg controlled retained ownershipof the Thoratec stock.
.
Roll Back Our Tax
4:42 pm on Sunday, May 27, 2012
continued...
And argues cases for Hudson Farms too...
http://www.leagle.com/xmlResult.aspx?xmldoc=in%20njco%2020100805273.xml&docbase=cslwar3-2007-curr
Harvey Roseff and Adrian Gonzalez, appellants, argued the cause pro se.
John E. Ursin argued the cause for respondents MMK Reinsurance, Ltd., Lee Kellogg, and Hudson Farm (Courter, Kobert & Cohen, attorneys; Mr. Ursin, on the brief).....
1. Plaintiffs are representing themselves.
2. DFW is "[c]harged with the responsibility for protecting, propagating, and maintaining an adequate supply of fish, game, and birds . . . `under the direction and supervision of the [DEP] commissioner.'" U.S. Sportsmen's Alliance Found. v. N.J. Dep't of Envtl. Prot., 182 N.J. 461, 473 (2005) (quoting N.J.S.A. 13:1B-27).
3. http://www.state.nj.us/dep/fgw/pdf/comm_pres_info.pdf.
4. We note the apparent inconsistency between Chanda's assertion that DFW considered the effects of the use of lead shot at the preserve and the requirement of the information sheet that steel or other non-toxic shot be used at a CSP.
5. We cannot decide here whether the narrowness of the statutory criteria for licensure would be mirrored by a corresponding narrowness of any preemptive effect flowing from the issuance of the license. But we note that, despite the designation of the license as "commercial," local land use law actually governs the issue of whether a preserve can be operated as a business or commercial venture.
Roll Back Our Tax
4:55 pm on Sunday, May 27, 2012
continued...
Hudson Farms operates in Andover, Byram and Hopatcong as a "hunting club".
http://www.nj.gov/dep/fgw/pdf/2011/hudson_farm_remand_decision.pdf
The Hudson Farm property was inspected in 2007 after a total of 1,738 acres were
added to the existing Hudson Guild Farm, and the property became Hudson Farm. 878 of those 1,738 additional acres were on a separate tract of land in Andover and Byram Townships; the other 860 acres were added to the property in Hopatcong Borough and Byram Township.
In accordance with the Appellate Division’s directive for remand in the case of Roseff, No. A-6209-07T1 (App. Div. August 5, 2010), DFW solicited public comment on the issuance and renewal of the 2007 CSP license to Hudson Farm, including whether the change from the prior use of the property, when compared to its proposed use as a shooting preserve, “would be inimical to a reasonable public interest served by the prior use.” Roseff, No. A-6209-07T1 at 14. DFW reviewed and considered all public comments it received in determining whether operating
a CSP would create any conflict with a prior reasonable public interest in the property and whether the CSP license should have been issued and renewed. Based upon the prior use of the Hudson Farm property for "hunting purposes", the Department has determined that operating the Hudson Farm property as a CSP would not conflict with any prior reasonable public interest.
Roll Back Our Tax
12:38 pm on Tuesday, May 29, 2012
Jennifer....Hudson Farms is owned by billionaire Lee Kellogg and his "income tax" sheltered off shore company MMK Reinsurance. He made his money selling his part of an investment firm to a company called Goldman Sach's who the US taxpayers bailed out in 2008. They operate a "commercial hunting preserve".
http://www.newjerseynewsroom.com/state/court-shoots-down-commercial-hunting-preserve-in-sussex
"Hudson Farm's commercial hunting business began 10 years ago on 620 acres in Byram and Hopatcong. In 2007, the company decided to expand onto a non-contiguous site, the 878 acres at the heart of the dispute. The DFW issued licenses".
"But the new site is not zoned for commercial use, which governs whether the reserve is legal, the judges said. They noted they were told the owners, Lee Kellogg and MMK reinsurance, use it personally and to entertain clients".
John Ursin the borough attorney has been defending them in court against (6) neighbors who have been representing themselves "pro se". They claim...
"Hudson Farm releases 23,000 birds a year "to be shot alongside their community." They called for other agencies within the Department of Environmental Protection to evaluate the impacts of the reserve".
The judges rejected the residents' call. There must be some reason why John Ursin is fighting so hard to keep this CSP license. Stay tuned!
Michele Guttenberger
8:16 pm on Sunday, May 27, 2012
What expansive acres of free hunting and wilderness lands for the new Hudson Farm Guild. It borders so many districts bestowed by every honorable Council to the Wealthiest of the Wealthy. Let's rename these lands the Capitol of Panem where every Community Group is represented in "The Hiking Games" and on that special day they are granted to win back this lost tax revenue for their own charity through the humble benevolence of the President of Panem.
Roll Back Our Tax
9:34 am on Thursday, May 31, 2012
Michele...I did a little research on that 1st attachment of mine above regarding Hudson Farms. In the top right corner you'll see Statute 54:04-03.63 of the NJ tax code...
http://law.onecle.com/new-jersey/54-taxation/4-3.63.html
54:4-3.63. Legislative findings and declaration
"The Legislature hereby finds and declares that natural open space areas for public recreation and conservation purposes are rapidly diminishing; that public funds for the acquisition and maintenance of public open space should be supplemented by private individuals and conservation organizations; and that it is therefore in the public interest to encourage the dedication of privately-owned open space to public use and enjoyment as provided for in this act".
Further evidence of the ultra rich getting special breaks at our expense.
Roll Back Our Tax
12:35 pm on Tuesday, May 29, 2012
Interesting...I have deleted the statement for now. As you're well aware I requested that John Ursin supply me with a certified receipt that the taxes were paid. He is suppose to do that at the next Council Meeting June 6th.
I stopped at the Borough Hall an hour ago and met with Therese DiPierro the Town Assessor and Regina Thomas as well. I have attached what I am about to share.
The 1st attachment Is the Tax Assessment Record for block 5002 Lot 7. The problem is on that record there is a tax code 10/25 which in a previous comment above I questioned. That tax code means "special exemption" (religious/charitable organization) which "evidently" according to Therese dates back to Hudson Guild Farms the previous owners who sold to MMK on 04-29-03. Therese said "she'd delete it".
The 2nd attachment shows the tax assessment of structures on that property in which they "supposedly" pay $85,683.42 in taxes on land of 19.35 acres.
The 3rd attachment show the tax assessment on "Woodland Management" on that property in which they supposedly pay $913.75 in taxes on land of 419.97 acres.
This is if the property record is accurate. The Woodlands part is a great deal because of the hunting grounds!
However the "CAMP" description still concerns me. I believe they're taxed at the LOWEST rate. There's no way a property like this can be assessed at $4,135,300 with all the buildings it has on it. Maybe Certified Evaluations should do an inspection soon.
Your move!
Roll Back Our Tax
5:33 am on Thursday, May 31, 2012
LOL...this just came out while we're on the subject of this "special interest group".....
http://theeconomiccollapseblog.com/archives/how-the-super-rich-avoid-taxes-even-as-they-demand-that-the-rest-of-us-pay-more