TRENTON – Senator Joseph Coniglio, D-Bergen and Chair of Senate State Government Committee, made the following statement at the opening of the Committee’s hearing on SCR-1, which would put a public question on the November ballot to dedicate one half percent of the sales tax for property tax relief:
“I am under no illusion that this measure will be the proverbial ‘silver bullet’ to a problem as complex as the property tax burden facing our state. The tax system that we have in place today evolved over a long period and is a relic of our colonial past and no one should underestimate the magnitude of the State’s property tax problem.
“The total property tax levy collected by local governments for counties, schools and municipalities is now about $21 billion, with the State already spending over $9 billion per year on direct school and municipal aid.
“In the face of these numbers there are those that would argue that this $500 million is not enough. We need to do more.
“I believe, however, that SCR 1 is an important first step, and the beginning of a larger process of reform that could ease the burden on our homeowners.”