Friday, June 19, 2009

New Jersey finds revenue windfall; May restore property tax rebate program in 2010 budget

It is budget time in the New Jersey Legislature as our legislators work diligently towards approving the state's budget before the June 30 deadline. This post isn't about politics. Please don't turn the page because you don't want political views or because you do or don't want to know where I stand on an issue. That's not what it is about; this post is about something that is important to every property owner in the state - property tax rebates.

The Governor's original budget proposed trimming rebates normally granted to property owners. It was then revised to suspend the rebates altogether. Now the legislators have found an unexpected windfall. They now have an unanticipated $600 million from the tax amnesty program. The state had expected that the amnesty program might bring in as much as $200 million so the unexpected $600,000 windfall comes at a time when our economy really needs it.

On Monday, June 22, our legislators have the opportunity to restore a positive influence on the New Jersey economy. They can choose to use apply the entire amount towards property tax relief for middle-class homeowners. Governor Corzine and Assembly Speaker Joseph Robert Jr think this is a good thing. How about you?

Do you make a point to speak with your legislators? This might be a good time to do so. Find your district delegates here and call them or email them this weekend. Tell them "I am a property owner in your municipality and I encourage you to vote yes to restore the property tax rebate program for the coming fiscal year."

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