• Home
  • Contact
The Lakewood Times

Christie Proposed Property Tax Cuts- Too Little Too Late?

4/15/2013

1 Comment

 
Picture
The Governor made a little bit of news on NJ 101.5 with Jim Gearhart this morning.

Chris Christie announced that he will support an increase to the earned income tax credit… just not the one that Democrats wanted. That plan will receive his condition veto later today. Christie will, however, support an increase to New Jersey’s earned income tax credit (from to 20% of the federal level to 25%).

But here’s the kicker: as part of his counterproposal, Governor Christie also wants a retroactive property tax credit (back to January 1st) of 10% for all state households earning $400,000 or less but capped at $10,000. The rates of the cuts would be graduated and phased-in through 2016. (Which would mean a 1000 dollar credit on a 10 thousand dollar property tax bill that would probably rise next year by the same amount leaving you paying the same amount you always did.)
This is being seen as typical posturing in a Garden State election cycle. Expect the Governor’s media machine to cast this new proposal as a direct and positive consequence of the Christie Administration’s sound stewardship of our finances over the past 3.5 years. Democrats will stick to the political critique. 

Let them… they’re only offering half a fish. Christie just threw a full-grown tuna on the table. Eat up, folks, while Buono & Co. figure out how to respond. Will they vote for the tax cut to help their legislative candidates in the face of a wave? Or will they run the risk of letting Christie come to their districts and accuse them of holding up relief?
Save Jersey
1 Comment
Gill
4/15/2013 06:35:35 am

Yudel is helping lakewood raise badly needed funds for the vaads handouts, so he filed tax appeals against exempt apartments and catering halls.

Reply



Leave a Reply.

    Tweets by @hhforsenate

    Archives

    October 2014
    June 2014
    May 2014
    April 2014
    March 2014
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012

    Categories

    All
    App Reviews
    Business
    Downtown
    Entertainment
    Ethics
    Jewish Life
    News
    Opinion
    Politics
    Senior View

    RSS Feed