NJ Assembly Republicans Propose Property Tax Reductions

The Republican members of the New Jersey assembly have come out with a “blue print” to reduce property taxes by 30% within three years. It’s a step in the right direction and it’s about time our representatives in Trenton articulated a goal for property tax reduction.

Hopefully, the reductions recommended by the Republicans are to be made possible through cuts in state spending and not through shifting the tax burden on to others. People that are retired, single and couples without children already pay more than their fair share for the state’s public schools. Shifting more of the burden onto another group of taxpayers, especially onto those without children in public schools, is a non-starter.

We also wish all politicians would lose the “working family” euphemism, it’s been beaten into the ground by Democrats and it’s meaningless. Retired people no longer work, but are getting killed with property taxes; single people without children work for a living and pay property taxes too; and even the vast majority of the dreaded rich and wealthily belong to “working families” and pay property taxes. The terms "people" and "taxpayers" are far more inclusive and should be used, unless of course the program or plan is intentionally discriminatory.

The Assembly Republican Caucus have unveiled its Blueprint for Property Tax Reform to provide much needed relief to New Jersey's working families. The plan includes a constitutionally guaranteed 30% property tax cut.

The Blueprint For Property Tax Reform:

• A constitutionally guaranteed permanent 30% property tax cut
• Reduction shown on every property tax bill
• Focus on spending restraint, not higher taxes
• No homeowners would get a tax reduction less than the size of their last rebate
• Taxpayers have the final say

"People are being taxed out of their homes. Parents are hoping to hold on just long enough to see their kids graduate so they can sell their homes and find a more affordable place to live. Young couples said they couldn't afford to buy a house because they wouldn't be able to keep up with the mortgage and property tax payments," said Assembly Republican Leader Alex DeCroce. "This plan is thoughtful, credible and can be implement without raising any state taxes or fees."

"New Jersey families simply cannot afford to continue paying these ever-increasing property tax bills," said Assemblyman Steve Corodemus, Chairman of the Assembly Republican Policy Committee. "This plan puts people first. In fact, it places the power to lower taxes in their hands."

The plan would be phased in over three years:

• 10% the first year
• 20% the second year
• 30% the third year

Average Savings for NJ Homeowners:

• $600 in year one
• $1,230 in year two
• $1,900 in year three