Whippany, NJ – Democrat Congressional candidate Mikie Sherrill has repeatedly argued that the recent tax reforms are driving down home prices in New Jersey and will continue to be bad for the housing market.

According to market statistics, a fact check on the impact tax reform has had on the housing market done by the New York Times, and the property assessment of Mikie Sherrill’s own 6 bedroom estate in Montclair, these claims are proven to be completely false.

“Mikie Sherrill is trying to scare voters in North Jersey into voting for her using lies and deceptions,” said Webber spokeswoman Ronica Cleary. “We need a Congressional representative that is going to be honest with the facts, even when they don’t line up with their campaign narrative. For Mikie to tell voters that their home values are plummeting while her multi-million dollar mansion gets assessed at a 19% increase since tax reform passed is a cheap and low campaign tactic.”

She continued, “Jay is working to earn the support of North Jersey voters by proving that he is the candidate that will go to Washington, work with both Republicans and Democrats, and be a leader in fighting for the continued growth of our economy.”

“Mikie Sherrill is screaming that the sky is falling, but in reality the economy is flourishing, wages are increasing and unemployment is at a record low. The only explanation for her pretending it is not is that she is so beholden to her radical base that she must pretend taxes are up when they’ve actually been cut, and now pretend property values are down when they are actually rising. The unfounded lies of her radical and extremist base have become staples of her campaign platform. If she can’t break with the liberal fringe on the campaign trail, she sure won’t do so in Congress. North Jersey needs leadership, and this isn’t it.”

Local realtor Nicole Ginis weighed in by saying, “The notion that North Jersey’s housing market is crashing as a result of tax reform is utterly false. Property values are holding steady and in most cases increasing. Mikie Sherrill is lying to voters with these claims.”

BACKGROUND

Mikie Sherrill has falsely claimed that tax reform has negatively impacted the housing market in North Jersey.

“In addition to raising taxes, the cap on SALT will drive down home prices in the district, with Essex County the worst impacted county in the United States, and all four counties in NJ-11 among the top 20.”
(FACT CHECK: https://www.mikiesherrill.com/news/sherrill-booker-and-mayors-to-congress-stop-raising-taxes-on-nj-families)

She has made claims that property values are declining as much as 10% in some parts of the district as a result of tax reform.

(FACT CHEK: Twitter.com/MikieSherrill, August 27 post)

The New York Times recently debunked the notion that tax reform has hurt the housing market.

(FACT CHECK: NYT Aug. 27, 2018, The Trump Tax Cuts Were Supposed to Depress Housing Prices. They Haven’t, https://www.nytimes.com/2018/08/27/business/housing-prices-tax-law.html)

The housing market has grown in New Jersey since tax reform and is projected to continue to grow in all four counties in NJ-11

Median Sale Price For Singe Family Home In New Jersey % Change YTD From 2017 is +5.1%

(FACT CHECK: http://njar-public.stats.10kresearch.com/docs/lmu/x/EntireState?src=page)

Home Prices & Value one-year forecast:
Essex County: +6.6%
Morris County: +5.7%
Passaic County: +7.2%
Sussex County: +14.2%

(FACT CHECK: https://www.zillow.com/home-values/)

Essex County assessed Mikie Sherrill’s own Montclair home at a 19% increase in value from just last year, growing from $1,536,300.00 to $1,895,400.00.

Sherrill’s home is currently listed for sale at $2,150,000.00

Zillow estimates her home will increase in value by 5.9% over the next year based on current home and market information.

Zillow also estimates homes in her zip code will rise 15% next year, and 4% for Montclair as a whole.

(FACT CHECK: https://www.zillow.com/homedetails/176-S-Mountain-Ave-Montclair-NJ-07042/38680457_zpid/)