Guadagno Pledges To Cut Property Taxes In First Term – Or She Won't Run For Re-Election

After winning the New Jersey gubernatorial primary, Kim Guadagno said she would fight for Main Street values as governor and pledged to cut property taxes in her first term – or she will not run for re-election.

Tomorrow in Burlington County, Guadagno will kick off the 'Main Street, Not Wall Street' Tour to discuss her plan to make New Jersey more affordable for working-class families.

"To make New Jersey more affordable, we need a governor who will put people before profits, Main Street before Wall Street, and what's best for New Jersey families ahead of the special interests," said Lieutenant Governor Kim Guadagno. "This is my pledge to the hardworking people of New Jersey: if I don’t reduce property taxes during my first term as governor, I won’t stand for re-election."

According to the Tax Foundation, New Jersey has the highest property tax burden in the country. Last year despite a 2% cap, property taxes increased by $700 million and the average property tax bill on a single family home in New Jersey increased to $8,549 compared to $3,296 nationally. More needs to be done to actually reduce the burden of high property taxes, which are particularly harmful to the middle class, seniors on fixed incomes and young families who are deterred from buying a home.

Guadagno's plan would impose a property tax 'circuit breaker' to limit school taxes to no more than five percent of household income, saving middle class families up to $3,000. To learn more about Guadagno's plan, click here.

Guadagno took aim at Phil Murphy's promise to raise taxes if elected governor.

"If we elect Phil Murphy governor of New Jersey, then the only person who will be able to afford to live in New Jersey will be Phil Murphy," Guadagno told supporters. "Lets not go back to the days of Goldman Sachs and Jon Corzine. Instead, let’s move forward with policies and actions to make New Jersey more affordable and improve the quality of life for all of us."

Guadagno's tax cut pledge drew praise from comedian and radio host Joe Piscopo as well as Evesham Township Mayor Randy Brown.

"Let’s face it – New Jersey families need urgent relief from their property taxes. How can we get there? By electing Kim Guadagno as governor, that’s how,” said Joe Piscopo. “Kim's plan to cut property taxes shows she understands the challenges New Jersey families and seniors face. Instead of out-of-touch policies that will cost us even more, Kim's plans will make our state better for the people who work hard every day and want to be able to afford to stay in Jersey."

Randy Brown agreed. "If Phil Murphy is elected governor, more and more families will have to move out of state. Kim will put Main Street values first and set the right priorities in Trenton to help families stay here."