Support Builds For Kim Guadagno's Property Tax Cut Plan

Support is building for Kim Guadagno's bold plan to cut property taxes as state and local leaders endorse her plan and approach.

"New Jersey needs a governor who will make property tax relief their top priority. Phil Murphy won't. I will," said Lieutenant Governor Kim Guadagno."I've released a specific plan that both sides can rally around because it will address the long-term driver of high property taxes for all New Jerseyans while delivering immediate relief to those families who need it most." 

The plan is favored by Fair Lawn Mayor John Cosgrove, a Republican whose residents stand to save an average of $1,200 on their property tax bills under the Guadagno plan. 

"Lieutenant Governor Guadagno's plan shows she is serious about providing real relief to struggling homeowners," said Fair Lawn Mayor John Cosgrove."She has outlined specific ways to save billions of dollars to pay for this plan without harming our schools. This is the kind of thinking we need in Trenton to make our state more affordable for everyday working families.” 

"Lowering property taxes is the number one challenge facing New Jersey," said Assemblyman Anthony Bucco. "It is a wet blanket on our economy and drives seniors and families to move to other states, where it is more affordable to live, work and raise a family. I applaud the Lieutenant Governor for releasing a detailed plan that not only will deliver long-term property tax relief for New Jerseyans by reforming the school funding formula, but target immediate relief to the families who need it most now.” 

Yesterday, the liberal-leaning think tank New Jersey Policy Perspective also told the Observer that "Guadagno’s proposal is on the right track" and that other states have a 'circuit breaker' policy in place. 

The Guadagno plan would lower property taxes for New Jersey homeowners through long term reforms to sick pay, shared services and the school funding formula. But her plan also provides immediate relief to the middle class families who need it most by creating a ‘circuit breaker’ to ensure that no New Jersey household pays more than 5% of their gross household income towards the school portion of the property tax bill. Depending on the school district, average savings under this plan would be $1,000, which will show up as a direct credit to a homeowners property tax bill, lowering the actual amount families have to pay out of pocket for property taxes. 

Endorsements:

  • Senator Diane Allen (LD7)

  • Assemblyman Anthony Bucco (LD25)

  • Mayor Carlos Rendo, Woodcliff Lake

  • Mayor John Glidden, Closter

  • Mayor Mike Ghassali, Montvale

  • Mayor John Krenzel, South River

  • Mayor Kennedy O’Brien, Sayreville

  • Mayor John Cosgrove, Fair Lawn