Senator Raymond Lesniak, a candidate for governor in the June Democratic Primary announced a property tax reduction plan that will save seniors $1,000 each year and provide a $800 savings for younger middle class homeowners.
“Governor Christie has shrunk the state’s property tax credit program every year he has been in office,” said Lesniak. “Instead of shrinking it, I will double it from the current $515 to $1030 for seniors and the disabled homeowners earning less than $150,000 and from the current $401 to $802 for homeowners earning less than $75,000.”
“The extra $322.5 million necessary to cover the additional property tax reductions will be paid for by closing corporate tax loopholes pursuant to my pending legislation, S61, which will produce $2-300 million now being avoided by clever accounting maneuvers, and by some simple restructuring of government I have proposed to reduce the cost of state government,” said Lesniak.
Lesniak said he will direct his Office of Comptroller to focus on excessive and unnecessary spending by school district, municipal and county governments to rein in property taxes for all homeowners .
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