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April
28, 2005
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| Re: |
Fair
Plan, One Year Later |
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Dear Mayor:
It happened
just one year ago.
On Thursday, April 29, 2004, Governor McGreevey called
for a rare joint session of the State Legislature. He
announced some major new property tax relief and reform
proposals. In short order, the proposals were passed with
bipartisan support in both Houses and signed into law.
This "FAIR" (Fair and Immediate Relief) plan
included three main components.
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Immediate
relief for our hardest hit taxpayers in the form of
significant increases in homestead rebates and New Jersey
SAVER checks financed by a 2.6% "Millionaires'
Tax" on income in excess of $500,000.
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Limits
on spending in the form of a new 2.5% Cap on municipalities,
school districts and authorities.
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Progress
towards long term reform in the form of a Citizens Task
Force to craft a Special Property Tax Reform Convention
bill, for submission to the voters in 2005.
This FAIR plan
was supposed to provide immediate relief, spending restraints
and long term reform.
Just one year later, the tax and the caps remain. But
the rebates and the reform convention both face uncertain
fates.
That doesn't seem "fair" to us.
We urge all State Legislators who supported progress towards
long term property tax reform just last year (the Task
Force bill passed 63-16 in the Assembly and 31-9 in the
Senate) to fulfill the promise they made to the people
of New Jersey. Those people deserve the opportunity to
vote the Convention Question up or down this November.
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Very
truly yours,
William G. Dressel, Jr.
Executive Director
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