Two of Lt. Gov. Kim Guadagno‘s leading North Jersey supporters offered full-throated endorsements of her “circuit breaker” property tax plan this week.
“Lieutenant Governor Guadagno‘s plan shows she is serious about providing real relief to struggling homeowners,” said Fair Lawn Mayor John Cosgrove. “She has outlined specific ways to save billions of dollars to pay for this plan without harming our schools. This is the kind of thinking we need in Trenton to make our state more affordable for everyday working families.”
“Lowering property taxes is the number one challenge facing New Jersey,” added Assemblyman Anthony Bucco of Morris County. “It is a wet blanket on our economy and drives seniors and families to move to other states, where it is more affordable to live, work and raise a family. I applaud the Lieutenant Governor for releasing a detailed plan that not only will deliver long-term property tax relief for New Jerseyans by reforming the school funding formula, but target immediate relief to the families who need it most now.”
The Lieutenant Governor’s plan would kick in whenever the school portion of a New Jersey homeowner’s property tax liability exceeds 5% of his or her total yearly household income; the property taxpayer would receive a credit in any amount over the 5% threshold up to $3,000.
Guadagno’s primary opponent Assemblyman Jack Ciattarelli was less impressed.
“The Lt. governor’s plan is also flawed in that it provides zero tax relief to many middle-class families,” the Somerset legislator opined in a statement received by Save Jersey. “Based on her own projections, a family where a public school teacher is married to a police officer would be considered ‘too wealthy’ to benefit. Frankly, this plan underscores the difference between my background as a CPA and Main Street business owner, and the Lt. Governor’s career in government. My plan is detailed, comprehensive, and fiscally responsible. Most importantly, my reform plan is not based on any faulty assumptions. The Lt. Governor’s is.”