Senate President Steve Sweeney and Majority Leader Loretta Weinberg will hold a town hall meeting at Teaneck’s Society Thursday night to discuss property tax relief for New Jersey's middle class.
Democrats unveiled a proposal earlier this year that would reduce the property tax burden of state residents earning less than $250,000 a year by 10 percent, according to a news release. Renters would receive $200 per year after a full phase in of their plan.
“Our previous town halls have been successful because we have been able to share information and hear concerns in a civil and courteous manner, even when there was disagreement. These meetings have become a great way to provide details on our plan and to hear directly from the public on what they think and what is impacting their lives,” Weinberg said in the release.
“Under the plan, a family earning the state's median income of $69,811 with property taxes at the state average of $7,758.20 would save $775.82 under the Senate proposal,” the release said. “Under the governor's proposed income tax scheme, they would save just $97.78; meanwhile a millionaire would get a $7,265.75 tax break and those earning $3 million would save $25,200 a year.”
The town hall will be begin at 7 p.m. at 687 Larch Avenue in Teaneck, Thursday May 10.