“When revenues fell, the last item we cut was property tax relief. Now that we have recovered some lost revenues, the first thing we will restore is property tax relief. This money belongs to the taxpayers, and we’re going to give it back to them in property tax relief.”
Governor Jon Corzine announcing the better than expected success of theTax Amnesty program. The additional revenues will now be used to off set property taxes
See the video anouncement below
In this video press release, Assembly Speaker Joseph J. Roberts, Jr. (D-Camden), Assembly Majority Leader Bonnie Watson Coleman (D-Mercer) and Assembly Budget Committee Chairman Louis D. Greenwald (D-Camden) discuss Governor Jon S. Corzine’s announcement that the state’s tax amnesty program has exceeded revenue projections.
According to numbers from the state Department of Treasury, the program has collected more than $600 million – $400 million over initial projections – and represents the largest single tax amnesty program executed by any state.
The Democratic leaders said they are committed to using the money for property tax relief.