Addiego – Rudder: Property Tax Rebate Program Should Be Restored For Everyone

Trenton, NJ – June 19, 2009 – (RealEstateRama) – The $400 million additional boon in amnesty funds discovered by Governor Jon Corzine should be part of the funding used to completely restore the property tax rebate program said Assemblywoman Dawn Marie Addiego and Assemblyman Scott Rudder, both R-Burlington.

Addiego and Rudder said they support remarks made by Assembly Republican Budget Chairman Joseph Malone yesterday that combining the amnesty funds with the $783 million in spending reductions offered by Republicans would enable lawmakers to reinstate the rebate for all homeowners who would have been ineligible to receive a check.

“Providing property tax rebates to all middle class taxpayers is a priority,” stated Addiego. “While the news is encouraging for homeowners who earn less than $75,000 per year, there remains a large group that will not derive any benefit. Our spending reductions, coupled with the amnesty dollars, will enable the rebate program to be all-inclusive and help the middle class taxpayers who were left out in Corzine’s budget.”

Both legislators cautioned that while the amnesty windfall may provide some help to property owners who pay the highest taxes in the country, this assistance is only temporary and there may be an unanticipated consequence from yesterday’s news.

“The tentative agreement with the Communication Workers of America that is supposed to save $300 million in this budget still needs to be ratified by the membership,” said Rudder. “What kind of message does this send to their rank and file, and what is the governor’s backup plan if the CWA rejects the new pact? If the state unions turn down the deal we will be back to square one.”

Addiego and Rudder also said that structural reform of the state’s spending and revenue practices as proposed by Republicans remains a high priority.

“We will revisit another budget catastrophe next year unless we drastically alter the budgeting process,” said Addiego.

“New Jersey cannot rely on the ‘found money’ phenomena to bail itself out of its ongoing fiscal deficits,” said Rudder. “Revamping how Trenton spends taxpayer dollars is our number one concern.”