How Does Corzine’s Hometown Do It?

How does Jon Corzine’s hometown, Hoboken, do it? The city is raising property taxes for the first time in ten years by 2 percent. The 2-percent municipal tax increase will add $60 a year for every $100,000 in assessed property value.

Hoboken and other municipalities receiving the lion’s share of state school aid have not experienced the huge increases in property taxes as have those communities that receive little to no funding from the state.

While suburban communities foot the bill for the construction of their schools, Hoboken taps the state’s school construction fund “to replace a perfectly good school that has, among other features, a swimming pool, a cavernous gym, a huge auditorium and classroom space for 600 more students than it houses.”

No wonder Corzine refuses to take a pledge not to raise taxes - 80% of New Jersey’s income tax revenue goes to school districts such as Hoboken. Corzine’s property tax relief plan that would increase the average homeowner rebate by $64 is just great for those that see a miniscule property tax increase every ten years. For those that see hefty increases to their property taxes every year, $64 is inconsequential.

Doug Forrester has taken a no-new-tax pledge and has proposed a plan to reduce property taxes by 30%. A Governor Corzine would do nothing to change the inequitable school aid formula, provide no real property tax relief and add new government programs that will lead to increased income and other taxes. A Governor Doug Forrester will reduce state spending and provide meaningful property tax relief.

This year taxpayers have a real choice between candidates for Governor of New Jersey. A vote for Corzine is one for higher state and local taxes; a vote for Forrester is a vote for holding the line on state spending and lower property taxes. What else do voters need to know?