Graduation The Happiest Day In Glen Ridge
From the Star Ledger:
Moving day follows kids' graduation day in one high-tax town
BY PHILIP READ
It was a proud moment. Eva Fenning's triplets were graduating from top-ranked Glen Ridge High School. On the lawn of their Ridgewood Avenue home stood the traditional congratulatory sign with the triplets' names: Brad, Blane, Brittany.
But just a few feet away was a telltale sign of what lay ahead: "For Sale."
In tax-stressed towns such as Glen Ridge, families are grabbing for a real-estate listing as soon as their youngest slip out of cap and gown. Many families are counting on the savings in property taxes to fund college tuition bills.
"My friends never believed me" when she said she'd be leaving town, Fenning recalls, but the move translates into huge savings. How much each year? "Only $13,000," she says tongue-in-cheek.
The postgraduation home sales extend to neighboring Montclair, where head-craning drivers can spot blue-and-white ribbons -- the colors of Montclair High's Mounties -- tied to trees just feet from "For Sale" signs.
In Glen Ridge, which a few years ago was top-ranked not just for its schools but for "tax trauma," according to a 2002 Star-Ledger analysis of New Jersey towns, the evidence is everywhere.