WASHINGTON, D.C. – January 30, 2014 – (RealEstateRama) — Assemblyman Sam Fiocchi, R-Cumberland, Cape May and Atlantic, has introduced the “Direct Tax Relief for New Jersey Families Act” that will provide a property tax cut for New Jersey homeowners. The bill (A-157) establishes the New Jersey Direct Property Tax Relief Program which also increases a renter’s gross income tax credit and increases the earned income tax credit.
“There is no dispute that property taxes are the most important priority in New Jersey,” said Fiocchi. “Our over-taxed residents deserve relief from one of the biggest expense items in their budget. Providing direct relief to middle-class homeowners and renters, and raising the earned income tax credit for low-income workers has multiple benefits. It will put money back into people’s pockets, keep our economy growing and create jobs.”
“At the start of the new legislative session, Governor Christie, along with bipartisan support by leaders in the Assembly, endorsed reducing property taxes,” stated Fiocchi. “It’s time that the bipartisan agreement on the importance of this issue becomes law.”
Fiocchi’s Assembly Republican colleagues Amy Handlin, Chris J. Brown and Scott Rumana are other primary sponsors of the bill.
