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Tax Software At a time when budget shortcomings are once again threatening the state's schools and municipalities, an effort to change New Jersey's reliance on property taxes may be gaining steam. Yesterday, state Sen. John Adler, the Democratic co-chairman of the Senate Judiciary Committee, announced his panel will hold a hearing next week on a new bill calling for a constitutional convention.

In addition to extending the lower tax rate on capital gains and dividends through the year 2010, the House's reconciliation bill includes a host of expiring tax provision that are widely supported by lawmakers from both parties. Among its many provisions, the House bill would extend the research and experimentation tax credit, the state and local sales tax deduction, the Archer Medical Savings Accounts, and tax incentives to revitalize the District of Columbia.

Software Tax If approved by the full Legislature and Gov. James E. McGreevey, a convention would examine different ways of paying for public schools, local and county government.

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Every Landlord Tax Deduction Proponents say the convention would be limited to tax reform issues and any measures recommended would not be allowed to increase the total amount of tax revenue collected.

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Tax Help Adler said he has the votes to send the legislation to the full Senate.

Lawmakers in Washington are struggling to find a fix to the Alternative Minimum Tax "problem, " class taxpayers to pay an additional tax only intended for the very wealthy. The lawmakers' trying to keep people never intended to be subject to the tax from having to pay it, while still collecting the revenue anyway. More on this story.

Help Tax The senator made his announcement at a State House news conference attended by a wide variety of civic and advocacy groups backing the move for a convention.

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Ernst Ernst Guide Guide Tax "We believe a constitutional convention is our best means of ensuring a substantial debate that won't be encumbered by partisan politics," said Louise Murray of the League of Women Voters.

Tax Return The bill, sponsored in the Senate by Adler, R-Cherry Hill, and Sens. Leonard Lance, R-Clinton, and Robert Martin, R-Morris Plains, calls for a constitutional convention to reduce New Jersey's dependence on property taxes.

Return Tax An identical bill is being sponsored in the Assembly by Assemblymen George Geist, R-Gloucester Township, and Joseph Roberts, D-Bellmawr.

Guide Guide Master Master Tax The bill has drawn opposition from some Republican lawmakers who say a constitutional convention could lead to creation of a statewide property tax to pay for schools.

Tax Preparation "A statewide property tax system would impose a financial hardship on homeowners in many rural and suburban communities," said Sen. Leonard Connors, R-Surf City.

Preparation Tax Adler said he is not deterred from pushing for the convention at a time when New Jersey is in the midst of a budget crisis and tax collections that fund state government have been well below expectations.

Employer Tax Guide "When things are good you don't need to talk about change," he said. "Things aren't so good right now. I think we have to talk about how to make things better. There is a short-term budget crisis. There is a long-term property tax crisis.

Tax Services "We'll get through this budget crisis, and we will work on the longer-term crisis, a chronic problem of property taxes," Adler said. "This is the time. Any year is the time to deal with this."

Services Tax Adler declined to say what tax changes he would like to see from a constitutional convention, saying he was focused on the process rather than the eventual outcome.

Master Tax Guide George Vallone, a member of the New Jersey Coalition for Property Tax Reform, said his group favors raising the state income tax and lowering or eliminating property taxes.

Tax Attorney Former state Sen. Bill Schluter, R-Pennington, who unsuccessfully sought last year to get a convention approved, praised Adler for pushing the bill.

Attorney Tax "This is an issue where the people are ahead of the politicians," said Schluter, who attended the news conference. "It's something that needs to be done, and I am glad to see it moving."

Guide Law Tax He conceded that a constitutional convention is an unusual step but said there is ample historical precedent.

Tax Accountant "When people are naysayers and they say a convention is unusual, (the question is) how did this country get started?" Schluter asked. "It got started in 1787 with a constitutional convention. They compromised on slavery . . . and other things, and they came through with a very, very good product. I envision the same thing for a property tax convention."

Accountant Tax In New Jersey, property taxes raise about $14 billion each year, with half earmarked for schools and half for county and municipal government.

Circular Employer Tax Guide New Jersey property taxes are among the highest in the nation, and the system has been criticized as unfair to the elderly and people on fixed incomes.

Income Tax Under New Jersey law, Adler's bill would have to be approved by the Senate and Assembly and signed by the governor by Aug. 27 for there to be a referendum on the November ballot asking if there should be a constitutional convention in April 2003.

Us Master Tax Guide If that ballot question is approved, voters would go to the polls in March to elect delegates to the convention. Any changes recommended by the convention would be placed on the November 2003 ballot for final voter approval.

Property Tax By Mark Perkiss
Trenton Times - 5/24/2002

Topic: Sprawl

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