TRENTON – Senator Barbara Buono today introduced legislation that would enable voters to ensure that a projected $665 million in new sales tax revenue gets used solely for property tax relief.
“I just believe this legislation will help taxpayers get the relief they deserve,” said Senator Buono, D-Middlesex, and a member of the Senate Budget and Appropriations Committee.
Under Senator Buono’s bill, voters would be asked this November to approve a constitutional amendment to dedicate the remaining half of the one-percent increase last year in the sales tax to property tax relief.
Voters last November approved a dedication of the first half of the increase in the sales levy from 6 percent to 7 percent.
“The discipline from a constitutional mandate will prevent us from succumbing to our penchant to spend,” Senator Buono said. “We need to keep our focus on property tax relief and reform.”
The Buono measure would complement the proposal already advanced in the Assembly by Speaker Joe Roberts.
“Getting this out now is important so people can convince any doubters that property tax reform is still the number one priority,” Senator Buono said. “In my mind, this will fix some of our recent failures to effect real reforms.”