"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Sunday, July 02, 2006

NJ State Income Taxes Up 71%, Sales Taxes Up 25%, Property Taxes Up 40% In Five Years

The list of taxes, fees, surcharges and other revenue the state will rake in runs 22 pages in the New Jersey Budget for 2007. New Jersey state income tax revenue will be up $1.135 billion, a 10.7% increase over last year. State sales tax revenue will increase by 24.7%, equal to $1.661 billion more than fiscal year 2006.

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:
Telephone: 609-292-6000
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



3 Comments:

At 4:53 PM, Anonymous Bob said...

Abbotts were flat funded this year. That is why my position was eliminated.

 
At 5:26 PM, Blogger Enlighten said...

Bob,

For the fist time ever the Abbotts are being flat funded in terms of school aid. Don't forget those same munipalities designated as Abbotts soak up the bulk of muncipal aid too.

In the past five years all non-Abbott munipalities have been flat funded in school and municpal aid. Menwhile the income tax, that may only be used for "property tax relief" has incresed by $4.883 billion.

Next year the income tax will bring in $1.135 billion more. It's going somewhere to reduce property taxes.

 
At 5:31 PM, Blogger Enlighten said...

In other words, over the past five years the Abbott school districts have not been flat funded, while all other school districts have.

 

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