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Re: Lawmakers may be warming up to Manzo's school plan -- Less Property Tax & More Income Tax
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GrovePath wrote:On Friday, Corzine challenged lawmakers to "make history" by enacting comprehensive proposals to cut property taxes that have risen so fast for so long they are "overwhelming our citizens."


OVERSPENDING is what is overwhelming our citizens.

Posted on: 2006/7/31 13:22
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Lawmakers may be warming up to Manzo's school plan -- Less Property Tax & More Income Tax
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Lawmakers may be warming up to Manzo's school plan

Monday, July 31, 2006
By JOURNAL STAFF AND WIRE REPORT

A school funding reform plan touted by Assemblyman Lou Manzo, D-Jersey City, may be gaining momentum as New Jersey lawmakers try to come up with a way to cut back on the state's highest-in-the-nation property taxes.

Under Manzo's plan, residents would save up to 50 percent on school property taxes but pay more in income tax, which would be used to pay for schools. More of the state sales tax revenue would be diverted to schools as well, under Manzo's plan.

"Across the state, people are being unfairly and disproportionately taxed out of their homes," Manzo said.

Assembly Speaker Joseph Roberts Jr., D-Camden, said Manzo's plan "is certainly something to be looked at as the Legislature moves forward with a special session in the weeks to come."

In addition, Roberts and Gov. Jon S. Corzine of Hoboken have promoted enticing local governments to merge and share services, but a 2003 Rutgers University study found reducing the state's 616 school districts by half would save $365 million after four years, doing little to cut the $20 billion collected annually in New Jersey in property taxes. The state would have to collect $6 billion less in property taxes per year just to be at the national average in terms of property taxes collected.

Other options being considered:

Lowering property taxes in areas where state planners want to encourage growth, such as cities and suburbs, and raising property taxes in areas where they want to discourage growth, such as rural and environmentally sensitive areas. An alternative proposal would be to tax land at a higher rate than buildings, which would favor redevelopment in cities and suburbs over new development in rural areas.

Collect school taxes at a single statewide rate, an idea that has bounced around for 30 years but has long been opposed by shore legislators who fear it would significantly increase property taxes in their communities. A less radical but similar idea is to consolidate all school districts into 21 county districts and collect taxes at a single per county rate.

On Friday, Corzine challenged lawmakers to "make history" by enacting comprehensive proposals to cut property taxes that have risen so fast for so long they are "overwhelming our citizens."

Posted on: 2006/7/31 13:18
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