New Jersey Gov. Jon S. Corzine said property tax rebates for homeowners and renters could become a casualty of the faltering economy.
Asked whether he’d consider cutting rebates to help balance next year’s budget, Corzine said he could offer no guarantees amid a dismal economic forecast and projected state budget deficit of between $2.5 billion and $4 billion.
“We’re hopeful that we will be able to sustain it, but I can’t promise anything in this environment,” Corzine said Tuesday after attending the dedication of the state’s World War II Memorial across the street from the Statehouse.
Corzine’s comments came after last week’s announcement by New York City Mayor Michael Bloomberg that $400 per homeowner rebates there would be discontinued.
Corzine expressed concern over the worsening economy, but said New Jersey is in better shape than some other states because lawmakers cut $600 million in actual spending from the previous year’s budget.
Those cuts included slashing the rebate program by $500 million. Under the scaled-back rebate program, households earning up to $100,000 received rebates averaging $1,115, the same as last year. Households between $100,000 and $150,000 got an average of $665 after getting $960 last year. Those between $150,000 and $250,000 got nothing after getting $745 last year. Renter rebates dropped from as much as $350 to $80.
(Source: 1010WINS)
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2 Responses
I thank the people who bought homes they could not afford, using the “interest only” deal. You had a hand in destroying our economy. Do you know that a depression is almost upon us? Are you sleeping well at night?
Are there any honest, unselfish people left in the world? People who work hard for their money and get paid on the books? Are there people who pay their taxes every year without cheating the government (& the people) to receive money they don’t deserve? Are there people NOT abusing government benefits like food stamps, wic, and medical assistance, taking away from those who really need it?
I had a teacher some years back, who had many money problems. She and her husband worked hard everyday to support their growing family. They still had negative in their bank, but these people still found a way to give Tziddakah.
So the next time you attemp to get out of paying for taxes, or cheat the government in other ways, just know that you are also cheating and hurting your fellow Jews.
I don’t see how applying and qualifying for a mortgage is selfish and dishonest… it is the bank’s job to assess creditworthiness, not the applicants! …although I am also against all the bailouts…!