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Election Fund of Steve Corodemus:
Address: P.O. Box 150
Atlantic Highlands, NJ 07716
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| The Blueprint for Property Tax Reform |
After three straight years of dramatic property tax increases, New Jersey citizens are demanding reform. The Assembly Republican caucus is pleased to announce that reform and relief may be on the way.
Recently, the members of the Assembly Republican caucus unveiled a reform plan that calls for a permanent 30 percent reduction in all residential property tax bills to be phased-in over a three year period. The Blueprint for Property Tax Reform is a historic tax cut plan that is certain to deliver results.
Over the last year, the Assembly Republican Policy Committee met with business leaders, advocacy groups, and most importantly concerned citizens to discuss New Jersey's property tax crisis. As a result of these discussions, Assembly Republicans devised a plan that structurally reforms New Jersey's property tax system.
The prepared proposal includes several constitutional amendments and more than 25 bills that would force state government to eliminate wasteful spending and make property tax relief a priority.
If enacted into law, the blueprint constitutionally mandates state government to permanently lower property taxes by 30 percent. In order to ensure this property tax cut is not financed by raising taxes, this proposal also includes a constitutional amendment that requires a super-majority vote of the Legislature in order to raise taxes.
Unlike other programs the state has tried, homeowners will not have to wait for a rebate check. They will automatically receive a reduction in their property tax bill. This will eliminate the paperwork and bureaucracy inherent in rebate programs.
This is a realistic, comprehensive, and well thought-out plan.
PROJECTED SAVINGS:
| Municipality |
Average Total Property Taxes 2004 |
Average 10% Savings |
Average 20% Savings |
Average 30% Savings |
Avg. Hold Harmless Level for Seniors |
Avg. Hold Harmless Level for Non-
Seniors |
| Allenhurst Borough |
$8,000 |
$800 |
$1,648 |
$2,544 |
$1,196 |
$717 |
| Asbury Park City |
$3,588 |
$359 |
$739 |
$1,141 |
$1,164 |
$714 |
| Atlantic Highlands |
$7,022 |
$702 |
$1,447 |
$2,233 |
$1,191 |
$720 |
Avon-by-
the-Sea |
$6,480 |
$648 |
$1,335 |
$2,061 |
$1,181 |
$711 |
| Belmar Borough |
$4,793 |
$479 |
$987 |
$1,524 |
$1,197 |
$729 |
| Bradley Beach Borough |
$4,772 |
$477 |
$983 |
$1,518 |
$1,184 |
$690 |
| Brielle Borough |
$7,600 |
$760 |
$1,566 |
$2,417 |
$1,202 |
$699 |
| Deal Borough |
$9,158 |
$916 |
$1,887 |
$2,912 |
$1,155 |
$686 |
| Eatontown Borough |
$4,855 |
$486 |
$1,000 |
$1,544 |
$1,187 |
$793 |
| Highlands Borough |
$4,734 |
$473 |
$975 |
$1,505 |
$1,170 |
$674 |
| Interlaken Borough |
$5,738 |
$574 |
$1,182 |
$1,825 |
$1,167 |
$679 |
| Loch Arbour Village |
$6,857 |
$686 |
$1,412 |
$2,180 |
$1,198 |
$704 |
| Long Branch City |
$5,490 |
$549 |
$1,131 |
$1,746 |
$1,166 |
$695 |
| Mon. Beach |
$5,660 |
$566 |
$1,166 |
$1,800 |
$1,187 |
$686 |
| Neptune Township |
$4,277 |
$428 |
$881 |
$1,360 |
$1,172 |
$677 |
| Neptune City Borough |
$3,995 |
$400 |
$823 |
$1,270 |
$1,191 |
$698 |
| Ocean Township |
$6,518 |
$652 |
$1,343 |
$2,073 |
$1,171 |
$684 |
| Rumson Borough |
$13,361 |
$1,000 |
$2,752 |
$4,249 |
$1,165 |
$679 |
| Sea Bright Borough |
$4,795 |
$480 |
$988 |
$1,525 |
$1,190 |
$712 |
| Sea Girt Borough |
$8,968 |
$897 |
$1,847 |
$2,852 |
$1,182 |
$706 |
| South Belmar Borough |
$3,879 |
$388 |
$799 |
$1,233 |
$1,181 |
$707 |
| Spring Lake Borough |
$8,960 |
$896 |
$1,846 |
$2,849 |
$1,190 |
$689 |
| Spring Lake Heights |
$4,776 |
$478 |
$984 |
$1,519 |
$1,170 |
$684 |
| Wall Township |
$6,412 |
$641 |
$1,321 |
$2,039 |
$1,185 |
$685 |
| West Long Branch |
$6,502 |
$650 |
$1,339 |
$2,067 |
$1,193 |
$705 |
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