TRENTON – Continuing Democrats’ effort to bring real property tax relief to middle class New Jersey, Senate President Steve Sweeney and Majority Leader Loretta Weinberg will host a town hall meeting this Thursday, May 10, at the Ethical Culture Society Building, located at 687 Larch Avenue in Teaneck, beginning at 7:00 p.m.
Earlier this year, Democrats unveiled a proposal that would reduce by 10 percent the property tax burden of New Jerseyans earning less than $250,000 a year. Renters would receive $200 a year after full phase in of the plan.
Under the plan, a family earning the state’s median income of $69,811 with property taxes at the state average of $7,758.20 would save $775.82 under the Senate proposal. Under the governor’s proposed income tax scheme, they would save just $97.78; meanwhile a millionaire would get a $7,265.75 tax break and those earning $3 million would save $25,200 a year.
“The real relief middle class families in New Jersey need is from their property taxes, not their income taxes. Our plan does just that, providing critical property tax relief to those who have been forced to pay 20 percent more in property taxes under this governor,” said Sweeney.
“Our previous town halls have been successful because we have been able to share information and hear concerns in a civil and courteous manner, even when there was disagreement. These meetings have become a great way to provide details on our plan and to hear directly from the public on what they think and what is impacting their lives,” said Weinberg.
The meeting is open to the public and press. Future meeting dates and locations will be announced in the coming weeks. For further details on the Senate Democrats’ plan to reduce the property tax burden on middle class New Jersey, please visit www.realreliefnj.net.