Christie Renews Call to Pass N.J. Homeowner Tax Credit
May 1st, 2013 8:31 AM

Governor Chris Christie, a Republican, said New Jersey lawmakers should pass a tax break for homeowners in the next 60 days.

Christie has proposed a 10 percent credit, phased in over four years, for homeowners making $400,000 annually or less. The amount would be as much as 10 percent of property tax paid, capped at $10,000. Top Democrats have said they want to pass a cut, while blocking the governor’s proposal.

Christie, who is seeking a second term in November, has cited higher-than-forecast tax receipts for several months as an indication that the state can afford the breaks. He has also proposed a mechanism that would block the credits if they become unaffordable.

Src: Bloomberg

Posted in:General
Posted by James M. Hanson on May 1st, 2013 8:31 AMPost a Comment

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