Tuesday, March 13, 2012
Greenwald: ‘Assembly Plan for Middle-Class Property Tax Relief ’
(TRENTON) – Assembly Majority Leader Lou Greenwald (D-Camden) had the following published in The Record of Bergen County:
“Gov. Christie's proposed income tax cut makes for nice headlines and a hefty payday for millionaires but fails to provide meaningful relief to middle-class families.
“Assembly Democrats, however, have a plan to help struggling middle-class families — a 20 percent property tax relief credit to homeowners of the first $10,000 in property taxes paid for all homeowners earning up to $250,000 per year. Our plan would be phased in over four years, with significant relief to begin immediately, and it would be funded by asking New Jersey's millionaires to pay their fair share.
“The contrast between our plan and the governor's plan couldn't be clearer.
“Gov. Christie’s plan would save a family earning $100,000 per year just $275, while millionaires get a tax break of $7,265.75.
“Under our plan, a family earning $100,000 per year and paying $8,000 in property taxes would receive $1,600 in tax relief. Our plan provides real property tax relief to 95 percent of New Jersey homeowners, with the average family slated to receive a credit of $1,552 against their property taxes. And our plan strengthens relief for tenants, while maintaining the Senior Freeze program that so many of our elderly and disabled residents rely on...”