NJ Taxes (1) History

S2019 calls for a 6.4% increase in taxes in New Jersey for the fiscal year ending June 30, 2019. We will examine many of these taxes individually but first, numbers that show taxpayers getting…

  • some breaks (except for sales taxes and primarily due to federal aid) in 6 budgets prior to Christie,
  • gouged (except for corporations) under 7 Christie budgets, and
  • gouged at record levels (except for sales taxes which he did want to raise) in Murphy’s first budget.

 

 

FY18 Appropriations Bill:

 

FY11 Appropriation Bill:

FY05 Appropriations Bill:

 

 

3 responses to this post.

  1. Posted by skip3house on July 5, 2018 at 5:30 pm

    For a good understanding…..just triple the NJ State Income Tax, drop all the rest, including residential school property taxes, and Stand Back !

    Reply

    • Posted by dentssdunnigan .. on July 5, 2018 at 5:53 pm

      They could use a formula for property taxes based on a individuals income with a divisor or multiplier with a one yearly lag for local budget purposes …it would be income based which would be the most fairer for all …

      Reply

  2. Posted by boscoe on July 5, 2018 at 5:59 pm

    I’m a bit confused here. Are you basing “increases in taxes” on the DOLLAR AMOUNTS of tax revenue expected in each of those years? If so, that is invalid. Not only were tax laws changed during that period, there also happened to be a lengthy recession in the middle. So what is the baseline for “gouging”? Also, the numbers you are using appear to be based on “anticipated revenues,” which are the estimates made a year in advance when the budget is signed . They are not audited year-end actual receipts that appear in the CAFR. And some other things as well, too boring to go into.

    Reply

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