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Senate Budget Panel Approves Buono Measure To Dedicate 1% Of Sales Tax To Property Tax Relief

TRENTON – The Senate Budget and Appropriations Committee today unaminously signed off on a plan sponsored by Senator Barbara Buono that would ask the voters if they want to dedicate 1 percent of the 7 percent sales tax to property tax relief.

“New Jersey’s want significant, permanent property tax relief. While we will always explore ways to provide even more relief in the future, this ballot question sends a strong message to how dedicated we are at keeping property tax bills down,” said Senator Buono, D-Middlesex, and a member of the Senate Budget and Appropriations Committee.

Under Senator Buono’s bill, SCR-137, 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.

“No matter who is controlling the purse strings in Trenton in the future, this amendment will assure permanency and sustainability of the property tax relief program begun in this budget,” Senator Buono said.

The Buono measure would complement the proposal already advanced by Assembly Speaker Joe Roberts.

“Last year, I joined many of my colleagues in supporting a sales tax increase only with the promise that the additional cent would be dedicated to property tax relief. As we pass this year’s budget, we are also fulfilling that promise by giving the voters the choice as to whether or not to set aside this money,” added Senator Buono.

The resolution now goes to the full Senate for final legislative approval.

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