Daggett Proposes 25% Property Tax Cut

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Chris Daggett

Chris Daggett

STATE—Chris Daggett proposed a fundamental restructuring of the state’s tax system, changes that will deliver up to a 25 percent property tax cut to all New Jersey homeowners to a maximum of $2,500. All senior citizen property owners will receive the maximum cut of $2,500 per year.

Daggett, the first independent candidate for governor to qualify for public financing, is the only one in the race to discuss what voters consistently say is their top concern, although his proposal could shift a greater share of the tax burden from businesses onto individuals.

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Gov. Jon Corzine has spent about $11 million on ads attacking Republican Chris Christie, who has primarily touted his law enforcement record and complained that the incumbent has driven jobs away from the state.

“Christie opened the door for Daggett by not talking about it,” said Patrick Murray, polling director at Monmouth University. “Because Christie hasn’t talked about property taxes, that opened the door for Corzine to talk about mammograms.”

“Property taxes are the number one issue in New Jersey and the main reason why people are finding the state unaffordable and leaving for other states,’’ said Daggett. “New Jersey is the only state in the nation where residents pay more money in property taxes than in income, sales and corporate taxes combined.”

Daggett would extend the current seven percent sales tax to a wide range of untaxed services, including lawyers, accountants and architects, to add $3.9 billion in tax revenue for municipalities along with $1.6 billion now used for homestead rebates, which would be eliminated.

The sales tax would not be paid by businesses and Daggett also wants to lower the corporate income tax from 9.36 to 7 percent, so individuals would actually pay a greater share of the cost of government.

More details may be found online at http://daggettforgovernor.com.


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