Property the Difficulty of Reforming Research Paper

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Although Daggett's proposal is harsh, the next governor should consider instating this measure, or a similar type of proposal.

The reason for high property taxes in New Jersey is multifaceted. In theory, property taxes are supposed to be equal in the aggregate: "Equalization as between individual properties within a municipality is an ongoing function. It is an important concern since its aim is to stimulate a continuous striving to ensure each individual parcel of property bears its just share of the property tax burden," but the rise of high-cost properties in districts with a substantial middle class population have made this goal of proportionality elusive (Short and simple, 2009, NJSLOM). In recent years, the poor and middle class have assumed a disproportionately large burden of supporting local budgets relative to the value of their property in the state.

While a more equitable balancing of the tax burden by creating more affordable housing might be the best long-term solution, in the short-term, relief is required to ensure individual's incomes are not primarily devoted to property taxes, and to make New Jersey a desirable place to live once again.

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Property tax rebates or relief have been the main solution to the problem of high taxes. However, when the state has fiscal problems rebates are often the first items to be sacrificed, as a cost savings measure. Thus, while the guaranteed approach to tax relief through mandated limits on state spending proposed by Daggett only addresses part of the problem of why property taxes in New Jersey are so high, without such a limitation upon spending, the state is unlikely to be able to extricate itself from financial difficulties in the future. Property axes will escalate higher as other sources of revenue shrink and home values will plummet further as people attempt to leave the community, in an attempt to escape the high rate of taxation.

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