Recently, Gov. Chris Christie said we should be careful about increasing the homestead credit because “it is other people’s money.” He went on to note that the average property tax rate increase in 2011 was 1.8 percent if the homestead credit that the governor supports is included in calculations (as opposed to 2.4 percent without).
This is good news. However, the governor’s cautionary tone regarding increasing the homestead credit further is bad news.
AARP does credit Gov. Christie for changing the homestead rebate into a credit, a much more efficient and effective system that Gov. Jon Corzine failed to implement.
Gov. Christie should announce his support for restoring the homestead credit to Corzine administration levels. Then Gov. Christie will make history by truly cutting property taxes.
Sharon Kern
Volunteer
AARP New Jersey
Summit