By Lea Kahn, Staff Writer
State Sen. Stephen Sweeney will hold the first in a series of town-hall style meetings Wednesday at 7 p.m. at the Lawrence Branch of the Mercer County Library System to discuss the Democrats’ plan to provide property tax relief.
The Democrats say their plan offers a 10-percent reduction in the property tax burden for families that earn less than $250,000 per year. Renters would receive a credit of $200 per year against their income tax, once the plan is fully phased in over four years.
Their plan was made in response to a proposal by Republican Gov. Chris Christie that calls for an across-the-board income tax cut of 10 percent, regardless of income. It would be phased in over three years.
”These town hall forums are an opportunity to engage New Jerseyans in an open discussion about which (proposal) makes more sense,” Sen. Sweeney said. “We want to hear from local residents in their home communities. We want to answer their questions (and) hear their concerns.”
”We look forward to proving how our plan provides real property tax savings with the tax that is the real burden to middle class New Jersey,” said state Sen. Loretta Weinberg, who will appear with Sen. Sweeney.
The way the Democrats’ plan works is that a family would receive a 10-percent credit against their income taxes, based on the property tax bill. Families that earn more than $250,000 would be ineligible for the income tax credit.
A family that earns $69,811 and that pays property taxes of $7,758.20 would save $775.82 in income taxes under the Democrats’ proposal but the amount they owe on their property tax bill would be unchanged.

