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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>news</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Feb 9 2007, 8:08 pm EST<span class="gen"> </span> Post subject: Views vary on tax plan</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Whether good or bad, opinions are strong on tax reform <br /> <br /> Local officials and residents have varied feelings about a property tax relief bill approved by the state Senate on Tuesday. <br /> <br /> Some say the bill is a good start toward controlling New Jersey's skyrocketing property taxes, while others say it puts unfair restrictions on municipalities and other governing bodies. <br /> <br /> The legislation, Assembly Bill 1 and Senate Bill 20, provides property tax cuts of up to 20 percent, depending on household income, and sets a 4 percent cap on the amount raised in taxes by municipalities, school boards, fire districts and other government entities. <br /> <br /> The state Senate approved the bill Tuesday by a 28-10 vote. The Assembly approved its version of the bill, 71-8 on Jan. 29. <br /> <br /> Assemblyman Bill Baroni, a Republican, and Assemblywoman Linda Greenstein, a Democrat, both voted in favor of the Assembly bill. State Sen. Peter Inverso, a Republican, voted against the Senate bill. All three represent the 14th Legislative Distrcit, which includes Monroe and Jamesburg. <br /> <br /> The measure will now head to Gov. Jon S. Corzine. The proposal is one of nearly 100 recommendations made by four special joint legislative committees convened. Gov. Corzine ordered the special joint legislative committees to convene in the summer, and charged them with the task of finding ways to lower taxes. <br /> <br /> Under the bill, property owners who earn up to $100,000 would receive a 20 percent credit on their tax bill, those who earn between $100,000 and $150,000 would receive a 15 percent credit and those who earn between $150,000 and $250,000 would receive a 10 percent credit. Homeowners who earn more than $250,000 would not receive any credit, according to the bill. <br /> <br /> Currently, the state gives out annual rebate checks to property owners and tenants. Under the proposed plan, the state would give money to the municipality, which would then apply credits to individual tax bills. <br /> <br />(<a href="http://www.zwire.com/site/news.cfm?newsid=17833896&BRD=1091&PAG=461&dept_id=425419&rfi=6" target="_blank" class="postlink">more</a>)</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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