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Trump Tax Reform Causing Freakouts in Rich New York Area Towns

March 21, 2019, 9:53 AM

Nick Boniakowski’s clients bought a home in Northern New Jersey in 2016. Now they want to move again.

They found a house they liked. It wasn’t the charm of new construction, an upgrade in location, better schools or a swimming pool that attracted them.

It was the lower property taxes.

Like many of Boniakowski’s clients at Redfin Corp.’s Hoboken office, these two are looking at their returns for the first time since President Donald Trump’s tax changes took effect and, despite more than a year of lead time, experienced a mild freakout. Maybe buying a new house –- the rare ...