{"id":2070,"date":"2017-07-13T11:51:53","date_gmt":"2017-07-13T15:51:53","guid":{"rendered":"http:\/\/www.musingsbymichael.com\/blog\/?p=2070"},"modified":"2017-07-13T11:51:53","modified_gmt":"2017-07-13T15:51:53","slug":"kim-guadagno-part-2","status":"publish","type":"post","link":"http:\/\/www.musingsbymichael.com\/blog\/2017\/07\/13\/kim-guadagno-part-2\/","title":{"rendered":"Kim Guadagno Part 2"},"content":{"rendered":"

\"Kim<\/a><\/p>\n

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Today I will continue talking about Kim Guadagno. From her campaign website I will start with how she wants to cut property taxes.<\/span><\/p>\n

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Per her website<\/a>, \u201cKim will continue to stand up for New Jersey taxpayers by vetoing any \u201cknee-jerk\u201d tax increase proposal passed by the legislature to pay for unnecessary spending<\/em>.\u201d Then she wants to create what Guadagno calls a \u2018Circuit Breaker\u2019 for property taxes.<\/span><\/p>\n

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Her campaign website states that, \u201cWhile the 2% cap on property taxes has slowed the rise in property taxes, it has done little to actually lower the tax burden on New Jersey families. As governor, Kim will fight for long-term solutions to lower the property tax burden in New Jersey, but she will also work to deliver immediate relief and certainty to the working class families who need it most by imposing a property tax \u2018circuit breaker.\u2019\u00a0This innovative program would cap the school portion of a homeowner\u2019s property tax bill to 5% of their household income, ensuring no New Jersey family would have to leave our state due to untenable property taxes. For instance, if a household makes $100,000 in income annually, they would not pay more than 5%, or $5,000, towards the school portion of their property tax. Any amount owed in excess of the 5% circuit breaker threshold will be applied directly to the homeowner\u2019s property tax bill as a credit. So if the same family making $100,000 a year has a school property tax bill of $6,000 annually, they would receive a $1,000 credit. The school districts would then receive increased state aid to cover the cost of the credit so no school districts lose funding. Under this program, a family making New Jersey\u2019s median household income of $72,000 will save an average of $895 on their property taxes annually. This proposal will apply to primary residences only and be capped at $3,000 annually. While the Homestead and Senior Freeze programs will remain in effect. homeowners will only be able to qualify for one program at a time and be able to choose the relief program that best meets their needs<\/em>.\u201d<\/span><\/p>\n

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OK, maybe this idea might work. But would she be able to get this through the Legislature is the question? Even if somehow there was a Republican majority in both houses, could Guadagno have the political clout to make this proposal come true? As far as I can see the answer is a big fat No!<\/span><\/p>\n

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Even with the strong backing of the New Jersey State League of Municipalities<\/a>, which I doubt very much that they would favor <\/span>such <\/span>a plan, and also had the backing of the people of New Jersey it more than likely it would fail to pass in either chamber.<\/span><\/p>\n

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The Teacher\u2019s Union and the State Workers would oppose such a plan because it would cutoff the flow of money into their coffers. Plus the New Jersey Supreme Court would also more than likely say that it is unconstitutional.<\/span><\/p>\n

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If somehow this plan actually did get voted into law and enacted by the state without the New Jersey Supreme Court interfering it still does not roll back the very high property taxes that we now have.<\/span><\/p>\n

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More next week.<\/span><\/p>\n

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That is my opinion- Jumpin Jersey Mike<\/span><\/p>\n