"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Wednesday, February 16, 2005

Property Tax Rebates In Jeopardy

New Jersey’s property tax is 33% higher than it was five years ago. The politician’s response to the out of control tax hikes was to increase property tax rebates. A political gimmick, costing who knows much to administer, which provides minimal tax relief. The whole program should be scrapped and real property tax reform should be enacted.

Least you think we are willing to give up the tiny bit of relief taxpayers enjoy, more than likely rebates this year will be greatly reduced or nonexistent according to this Star-Ledger report.

Acting Gov. Richard Codey said yesterday the state's looming budget deficit could force him to slash property tax rebates, just one year after lawmakers boosted them by raising the income tax on New Jersey's richer residents.

In an hour-long interview with the editorial board of The Star-Ledger, Codey said middle-class homeowners who were eligible last year for a maximum $800 rebate may end up with checks of $300 or less. He said seniors and disabled people would see their maximum rebate drop from $1,200 to $800. The acting governor will propose his budget March 1.



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