NJ State Income Taxes Up 71%, Sales Taxes Up 25%, Property Taxes Up 40% In Five Years
There is nothing fiscally responsible about government spending in New Jersey and Governor Corzine’s budget adds insult to injury. Since Democrats took total control of state government in 2002, taxpayers will pay 71 percent more in income taxes, 39 percent more in sales taxes, 116 percent more in corporate taxes and over 40 percent more in property taxes in just five short years.
Pennsylvania, with a population of 12.5 million, is watching a state budget of $26 billion sail through its legislature. New Jersey, with a population of 8.5 million, is fighting to pass a $30.875 billion budget. The average Pennsylvania property tax bill this year will be $1,475, while in New Jersey the average will be over $6,000, up more than 40 percent since 2002.
In 2002, New Jersey state income tax revenue was $6.837 billion. In 2007 the state will take in $11.720 billion from the income tax. That’s $4.883 billion more in income taxes, a whopping increase of 71% in just five years. And yet, state aid to schools has been flat-funded to all but the Abbott school districts and property tax rebate checks during that period have been cut in half.
In 2002 New Jersey state sales tax revenue was $5.997 billion. In 2007 sales tax revenue will be $8.337 billion – $2.34 billion more, a 39% increase in five years. Corporate tax revenue was $1.171 billion in 2002 and in 2007 corporate taxes will bring in $2.523 billion. That’s a $1.352 billion increase in corporate taxes, a 116% increase in five years.
And yet with all these tax increases, Governor Corzine says New Jersey will start next year with a budget deficit of $2 billion. You can do something to stop this madness. Contact your representatives and tell them enough is enough.
Here’s the contact information:
Governor Jon S. Corzine:
Email: Link to email submission form
Address: Office of the Governor - PO Box 001- Trenton, NJ 08625
New Jersey Legislature (Assembly and Senate):
Telephone and Address: Lookup for legislators' address and phone number
Email: Lookup for legislators’ email form