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Republican candidate for New Jersey Governor, Jack Ciattarelli, Lays Out Plan to Make New Jersey More Affordable

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the staff of the Ridgewood blog

Ridgewood NJ, Republican candidate for New Jersey Governor, Jack Ciattarelli, was at a home in Tuckerton on Thursday morning for a roundtable discussion hearing the concerns of Southern Ocean County residents with regard to property taxes, affordability and how small business owners are being impacted economically.

One of the main talking points and focuses for Ciattarelli Thursday and throughout his campaign is his vision to address New Jersey’s financial woes which do include property taxes and the concerns of homeowners.
“What we’re hearing from homeowners is what we’ve always heard from homeowners, property taxes are too high in New Jersey,” Ciattarelli told Townsquare Media News on Thursday. “It’s sad when you hear stories of people telling you that the monthly bill for property taxes is more than their mortgage ever was — welcome to New Jersey — but I’m here to say it doesn’t have to be that way, we’ve got changes in mind for when I’m Governor that are going to allow people to live out their lives in their homes.”
Ciattarelli’s plan for lowering taxes and making New Jersey a more affordable place to live :

#1: Lower property taxes to make home ownership more affordable

“New Jersey can and should be a place where our residents can afford to live and work for generations.  As Governor, I will lower your property taxes through comprehensive reform of our broken school funding formula – a system where 60% of state aid goes to just 5% of the districts is unsustainable.”  –Jack Ciattarelli

Shift extraordinary special education costs, which create an unfair burden on property taxpayers, to the state
Restore state aid to struggling suburban, shore area and rural schools to relieve the financial burden on local communities
Redefine “local fair share” so no community funds less than 25 percent of its school operating budget or construction costs.
Reduce costs and increase efficiency by incentivizing voluntary regionalization among our 565 towns and 600+ school districts
End property tax increases as a result of home improvements
Freeze property taxes for all homeowners at age 65 regardless of income or length of residency

#2: Reform the tax code to help families and make New Jersey competitive
As governor, I will reform and modernize the tax code so that our residents will do better, our state will prosper from more opportunity, and our tax code will function as a magnet for new residents and businesses from neighboring high-tax states.” -Jack Ciattarelli

Reduce taxes for all income brackets by implementing a 0% rate for taxable income up to $20,000, simplifying brackets to provide relief to the middle class, and lowering the uncompetitive top rate from the nation’s second-highest to out of the top ten
Make all retirement income tax free
Create income tax credits or relocation bonuses for New Jersey residents who transfer their employment from New York to New Jersey, incentivizing workers, not companies
Provide a higher tax benefit for middle-class families with children by replacing the child tax exemption with a Child Tax Credit of up to $500 per child, about five times the current benefit, and allowing eligible families to instead take the NJ Earned Income Tax Credit if higher.
Provide a tax deduction for charitable contributions and personally paid-for health insurance premiums
Make student loan interest tax-deductible
Allow the first 36 months of mortgage interest to be tax-deductible for first-time homebuyers
Prohibit taxing the gain on the sale of a home or second home
Index income tax rates and exemptions to account for inflation, which currently pushes many taxpayers into a higher bracket, imposing “hidden tax hikes” that disproportionately hurt the middle class

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