PROPERTY TAX REFORM NEW JERSEY, Inc. is a non-profit educational charity with IRS section 501(c)(3) status.
Contributions are tax deductible.
PTRNJ'S GOAL :
to educate NJ homeowners about a better way to deliver property tax relief.
PROPERTY TAXES ARE THE #1 ISSUE WITH NJ RESIDENTS
MUNICIPAL SERVICES ARE THE SAME FOR EACH RESIDENT, REGARDLESS OF THE HOME VALUE
PROPERTY TAXES HAVE NO UPPER LIMIT AS A PERCENTAGE OF HOUSEHOLD INCOME
A the end of the Revolutionary War in 1783, NJ needed a system of taxation to pay for Government. "WEALTH" was to be taxed.
In 1783, the only "WEALTH" was the Land owned "free and clear", and these owners were "freeholders".
In 2020, NJ changed the term "County Freeholder" to County Commissioner, to eliminate the antiquated term.
When the State income tax was instituted in 1976, all the receipts are dedicated to the "PROPERTY TAX RELIEF FUND" (PTRF)
In the NJ 2024 State Budget, the Property Tax Relief Fund is $21 Billion.
NJ residents are unaware of how their $21 Billion of their INCOME TAXES are being spent.
PTRNJ's educational mission is to show NJ homeowners about how the PTRF is being spent, and explain a progressive system of Circuit Breakers.
Currently, 21 States and the District of Columbia use a system of "CIRCUIT BREAKERS" to cap property taxes as a % of income.
Just as NJ income taxes are adjusted based on income, Property Taxes should be related to household income.
If the highest income tax rate is 10.75%, Property Taxes should NOT be more than 10.75% of Household Income.
A Progressive system of property taxes with "Circuit Breakers" would be a fairer way to assess property taxes.