Jack Ciattarelli on Tax Reform
School funding formula is root of property tax growth
During his 2017 GOP primary campaign for governor, in which he proposed a comprehensive property tax reform plan. Unlike other property tax relief plans of candidates down through the years, which merely involved sleight of hand increases in state taxes
to finance cash rebates, Ciattarelli went to the heart of the matter by proposing extensive revision of the state education funding formula, the root cause of our escalating property taxes.
Source: InsiderNJ.com on 2021 New Jersey gubernatorial race
, Apr 9, 2019
No increase in top tax rate to reduce property taxes
Excerpts from legislation: Increases the top tax rate contingent on enactment of homestead benefit legislation. A new top marginal rate is set at 10.75% for earning over $1,000,000 (an increase from 8.97% for those earning over $500,000);
lower brackets maintain the same rates. The purpose of the bill is to fund an enhanced homestead benefit, to temper the regressivity of the property tax for the bulk of NJ's property taxpayers.
Excerpts from veto message: I will not
permit the State to succumb to the legislature's enduring addiction to profligate taxing and spending. I also have vetoed AB 3029, which would have increased the Earned Income Tax Credit to provide relief to only a subset of NJ's taxpayers. All of our
taxpayers are already subject to one of the nation's highest state income tax rates. Instead, we should be lowering taxes for all New Jerseyans.
Legislative outcome:Ciattarelli voted NAY; passed House 47-31-2 & Senate 24-16-0; Vetoed.
Source: New Jersey legislative voting records: A 3201
, Jun 25, 2012
Page last updated: Dec 21, 2019