Well, thanks to New Jersey's wonderful legislature, it appears that any property tax reform is going to be temporary. I think the change from calling it "Property Tax Reform" to a "Property Tax Credit" is appropriate, giving its short-term nature. Sure, most people earning $100,000 or less would receive a 20-percent tax credit, but there is nothing built in to fix the problems that cause New Jerseyans to have high property taxes in the first place. Nothing's been done to keep property-tax increases down or to free up more funds for the future.
In the end, it's all just smoke and mirrors, an elaborate series of events that will get money into the voter's pockets just at there set to determine who they will support in the upcoming elections.
Here's the sketch:
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