Lieutenant Governor Kim Guadagno Talks Property Tax Relief, State Cap
Tuesday at Robbinsville Senior Center
ROBBINSVILLE, NJ - (August 29, 2017) - New Jersey Lieutenant Governor and 2017 gubernatorial candidate Kim Guadagno appeared at the Robbinsville Township Senior Center on Tuesday, August 29 to talk about property tax relief and the state's tax cap.
Guadagno was introduced by Mayor Dave Fried, who has successfully used the current 2 percent cap, which sunsets in December, to help Robbinsville navigate from one of the fastest growing tax rates prior to his tenure, to two straight years of municipal cuts. The Township now is among the ranks of the most stable towns in Mercer County with increasing property values and a slew of high value ratables.
Guadagno's tax plan is two-pronged: First, school property tax bills would be capped at 5 percent of a taxpayer's household income, with anything over that limit credited toward their municipal tax bill.
The cap would be coupled with long-term negotiation over a redefined school-funding formula, which Guadagno hopes would transfer funding from urban districts to suburban districts, which traditionally receive less state aid.
Guadagno is running against Democrat Phil Murphy in the November 7 election.
"The only thing that has put pressure on keeping property taxes reasonable in New Jersey is the property tax cap and the arbitration cap," Guadagno said. "The people of New Jersey will vote with their their pocket books, I certainly hope they do, and the choice is clear. I will lower your property taxes or I will not run again."