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Article: New Jersey Governor's Plan Won't Impact Property Tax Much, Business Groups Say.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 30, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Bob Cullinane, Asbury Park Press, N.J. Knight Ridder/Tribune Business News
Apr. 30--The so-called "millionaire's tax" on New Jersey's wealthiest residents proposed by Gov. McGreevey yesterday will have little impact on New Jersey's onerous property-tax rate structure, representatives of several business organizations said yesterday.
"It's a missed opportunity," said Patrick J. O'Keefe, chief executive officer of the New Jersey Builders Association, of the governor's plan to distribute the $800 million projected to be raised by the tax hike as rebates to lower-income residents.
"If (McGreevey) wanted to directly impact property taxes, ...
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