NJ: Christie to AARP: We want you to have an income tax credit against property tax bills

[no_hypocrisy]

Governor Christie delivered the strongest signal yet this morning that he and Senate President Steve Sweeney are close to alignment on how to offer state residents a tax cut.

At an AARP conference in Trenton, where seniors specifically had called for property tax relief from state government, Christie told them: “We want you to get a 10-percent credit on your income tax toward your property taxes.”

The use of the words “we want” indicated more than ever that he and Sweeney are close to unity on the model for any possible tax cut — as Christie seemingly softens his position away from a straight income-tax rate cut towards Sweeney’s tax-credit model.

While still indicating the agreement relies on “room to compromise,” Christie focused the crowd’s attention on the Assembly Democrats who he said were standing in the way.

-more-

http://blog.northjersey.com/thesource/3238/christie-to-aarp-we-want-you-to-have-an-income-tax-credit-against-property-tax-bill/

[rgbecker]

1. The GOP. Digging deep to find another way to give rich people a tax break.

Oh wait. I'm sure the land lords will pass the savings on to their tenants.

[Honeycombe8]

3. I'd guess that would apply only to a primary residence and not income properties. nt

[rfranklin]

2. It would be fine if there was an income test...

since many retirees living on SS and not much else are really getting hammered by the real estate taxes.

[Honeycombe8]

4. I don't see why there should be an income test re property taxes. Article says...

The article says that NJ has the highest property taxes in the country. That's very high.

I wonder if NJ doesn't freeze taxes for seniors like some other states. Here in TX, property taxes are frozen at age 65, I think. This allows seniors to stay in their homes they've lived in for decades, even though property values keep going up, making property taxes sky rocket.

[rfranklin]

5. NJ does freeze taxes and it is based on income...

though the threshold is fairly generous at about $70,000.

I looked it up.

[NJCher]

6. really?

I'm a NJ resident and I thought Christie got rid of any tax breaks for seniors.

I was actually surprised to read the OP's post this morning.

For those of you unfamiliar with NJ taxes, my county was once notorious for having the highest property taxes in the nation. On my middle income house, which probably assesses around 500k, the taxes are around 1300-1400 a month.

Yet our town recently "outsourced" the building of a new town web site for 45,000 to a company out in Ohio. Why? No webmasters here? As one, I could have built the site for 6k. And they're doing the curbs over. Necessary? Doesn't look like it to me. And on top of all that, I got a quote for some brick patio and sidewalk work and discarded it due to the cost. But not our town. Everywhere you go are lovely brick-work sidewalks.

In NJ, we are so beholden to the pavement contractors.


Cher

[rfranklin]

7. It's the buddy system! Public funding for contractors and gangsters...

I lived next door to a contractor reputed to have mob ties. He diverted huge amounts of construction materials to turn his modest suburban NJ home into a palace. He did, however, get caught by the IRS and ended up broke, living in a modest condo, by the time he died.

[rfranklin]

8. Here's the link to the NJ program...

http://www.nj.gov/treasury/taxation/hr_ptr_comp.shtml