In his budget address on March 10, 2009, Governor Jon Corzine called for a one-year suspension for all non-senior households, regardless of income, to deduct property taxes from their state tax filings. Reacting to overwhelming public angst, Governor Corzine recently adjusted his budget plan to include the restoration of the property tax deduction for senior citizens and households earning up to $150,000.
Although the partial restoration of this critical deduction is a step in the right direction, NJAR® still needs your help! Governor Corzine still has plans to eliminate property tax rebates for everyone except senior citizens and households who make less than $75,000. Given current economic conditions, this is the worst possible time to propose any legislation that undermines the basic foundation of homeownership.
Take action by participating in NJAR®’s new letter-writing campaign calling for the full restoration of the property tax deduction. Additionally, encourage your clients, friends and family to send a public letter to lawmakers.