Guadagno: My plan would cut property taxes immediately
Right on cue, hours after proposing a robust and bold plan to cut property taxes for the middle class in New Jersey, Phil Murphy and some in the media attacked my proposal.
My plan is not only the most substantive and detailed plan that has been released by any candidate to date, it is the only plan that will cut property taxes immediately for the people who need relief the most.
The concept is simple - New Jerseyans shouldn't have to pay more than 5 percent of their household income toward school taxes, the main driver of our state's high property taxes. If school taxes get too high, my "circuit breaker" kicks in and you stop paying. The credit would appear directly on your property tax bill and actually lower the amount you pay out of pocket if your school taxes exceed 5 percent of your household income.