Ten Good Things About the FY2010 Budget
Provides significant property tax relief to all New Jerseyans.
The FY 2010 Budget provides much needed property tax relief. More than one-half of the Budget is dedicated to property tax relief, and one-third to aid to school districts to offset educational support which would otherwise be raised through local property taxes. Funding for the Homestead Rebate Program makes it possible to deliver rebate checks with an average of $1,300 to senior citizens and $800 for non-senior households with incomes below $75,000. Over his four budgets, Governor Corzine has provided nearly $7 billion in direct property tax relief to New Jerseyans, which is approximately 35 percent greater than any previous administration.
Offers record-high levels of property tax relief to seniors
More than 500,000 senior homeowners will receive a rebate of about $1,300, while more than 100,000 senior tenants are eligible for a maximum rebate of $860. The Budget also provides seniors with added relief by fully funding and expanding the property tax freeze program. This Budget makes it possible for almost 170,000 seniors to receive Senior Freeze checks, which will average nearly $1,300. Lastly, the Senior and Disabled Citizens’ Property Tax Deduction program is funded at $19.5 million in FY2010 to continue the $250 property tax deduction for income eligible seniors and disabled citizens. In total, the FY 2010 Budget preserves Homestead Rebates for more than one million households, including all seniors.
Avoids budgetary bedlam experienced in California and other states
Presented with the most difficult economic times that New Jersey – indeed this entire nation – has faced in generations, Governor Corzine and the Democratic Legislature produced a balanced state budget on time and with substantial property tax relief. In concert with his partners in the Legislature, Governor Corzine has come up with a workable budget under the most trying circumstances any state has faced, avoiding draconian cuts to safety net programs and services and without relying on far-reaching increases in broad-based taxes. The Budget was completed the right way – with transparency, public participation and broad input.
Dramatically cuts spending
The FY2010 Budget is $1.8 billion less than Governor Corzine’s first budget. Reductions were made in about 850 – about 36 percent -- of the 2,400 line items in the budget; about $4.5 billion in cuts or reductions are against base budgets or projected growth. The budget cuts more than $500 million from the state government bureaucracy.
Increases direct funding for schools by nearly $280 million to $8.8 billion
No district Receives less funding than it did in FY 2009, and 171 districts will receive increases, mostly five percent increases. The increase in school funding ensures students have access to needed resources and helps to reduce growth in property taxes. Over four years the Corzine Administration will have provided $43 billion in support of education, which is nearly 30 percent more than the previous administration and nearly 80 percent more than the last Republican administration.
Makes college more affordable
The Budget imposes a three-percent cap on increases in tuition and fees at the Senior Public colleges and universities. Also, funding for Tuition Aid Grants (TAG) is increased by about $34 million. TAG will provide more than 57,000 awards in the new budget year to the State's neediest students, an increase of nearly 3,500 over FY09 levels. The Budget also makes it possible for more than 10,000 county college students to receive part-time TAGs, a 2.6 percent increase over FY 2009. The Budget also preserves level funding for the Educational Opportunity Fund, which provides financial and program support to over 19,000 needy college students from disadvantaged backgrounds. New Jersey’s public colleges and universities will maintain matching support for EOF programs at last year’s level.
Preserves access to health care
The Budget also eliminates health care premiums charged to economically disadvantaged children in the NJ FamilyCare program and maintains $605 million in funding for Charity Care. Despite the difficult times, the Budget maintains current eligibility criteria and copayment levels for Medicaid programs.
Increases funding for mental health services
The Budget provides $274 million to the Division of Mental Health Services, including a $3.5 million increase for community-based services for the mentally ill. Also, $72 million is provided in the Divisions of Mental Health and Developmental Disabilities for community-based services to address the U.S. Supreme Court’s Olmstead decision.
Protects services for the most vulnerable
The Budget provides energy assistance via $71 million in funding for the Lifeline program, which subsidizes natural gas and electricity bills for low-income residents and a $5 million increase in funding for an energy assistance referral program. The Budget preserves funding for programs that support New Jersey’s veterans including veterans’ nursing homes and other support services. Also, $12.4 million of funding is provided to serve clients on the Division of Developmental Disabilities Community Services Waiting List. To meet rising caseloads, the Budget provides $459 million in state and federal funding for cash assistance programs for individuals, childless couples, families, and the disabled, an increase of $42 million.
Returns a tax amnesty windfall to taxpayers
The Budget includes more than $525 million in unanticipated revenue from the most successful tax amnesty program in New Jersey history. The program made it possible to maintain property tax rebates for working families.
The FY 2010 Budget provides much needed property tax relief. More than one-half of the Budget is dedicated to property tax relief, and one-third to aid to school districts to offset educational support which would otherwise be raised through local property taxes. Funding for the Homestead Rebate Program makes it possible to deliver rebate checks with an average of $1,300 to senior citizens and $800 for non-senior households with incomes below $75,000. Over his four budgets, Governor Corzine has provided nearly $7 billion in direct property tax relief to New Jerseyans, which is approximately 35 percent greater than any previous administration.
Offers record-high levels of property tax relief to seniors
More than 500,000 senior homeowners will receive a rebate of about $1,300, while more than 100,000 senior tenants are eligible for a maximum rebate of $860. The Budget also provides seniors with added relief by fully funding and expanding the property tax freeze program. This Budget makes it possible for almost 170,000 seniors to receive Senior Freeze checks, which will average nearly $1,300. Lastly, the Senior and Disabled Citizens’ Property Tax Deduction program is funded at $19.5 million in FY2010 to continue the $250 property tax deduction for income eligible seniors and disabled citizens. In total, the FY 2010 Budget preserves Homestead Rebates for more than one million households, including all seniors.
Avoids budgetary bedlam experienced in California and other states
Presented with the most difficult economic times that New Jersey – indeed this entire nation – has faced in generations, Governor Corzine and the Democratic Legislature produced a balanced state budget on time and with substantial property tax relief. In concert with his partners in the Legislature, Governor Corzine has come up with a workable budget under the most trying circumstances any state has faced, avoiding draconian cuts to safety net programs and services and without relying on far-reaching increases in broad-based taxes. The Budget was completed the right way – with transparency, public participation and broad input.
Dramatically cuts spending
The FY2010 Budget is $1.8 billion less than Governor Corzine’s first budget. Reductions were made in about 850 – about 36 percent -- of the 2,400 line items in the budget; about $4.5 billion in cuts or reductions are against base budgets or projected growth. The budget cuts more than $500 million from the state government bureaucracy.
Increases direct funding for schools by nearly $280 million to $8.8 billion
No district Receives less funding than it did in FY 2009, and 171 districts will receive increases, mostly five percent increases. The increase in school funding ensures students have access to needed resources and helps to reduce growth in property taxes. Over four years the Corzine Administration will have provided $43 billion in support of education, which is nearly 30 percent more than the previous administration and nearly 80 percent more than the last Republican administration.
Makes college more affordable
The Budget imposes a three-percent cap on increases in tuition and fees at the Senior Public colleges and universities. Also, funding for Tuition Aid Grants (TAG) is increased by about $34 million. TAG will provide more than 57,000 awards in the new budget year to the State's neediest students, an increase of nearly 3,500 over FY09 levels. The Budget also makes it possible for more than 10,000 county college students to receive part-time TAGs, a 2.6 percent increase over FY 2009. The Budget also preserves level funding for the Educational Opportunity Fund, which provides financial and program support to over 19,000 needy college students from disadvantaged backgrounds. New Jersey’s public colleges and universities will maintain matching support for EOF programs at last year’s level.
Preserves access to health care
The Budget also eliminates health care premiums charged to economically disadvantaged children in the NJ FamilyCare program and maintains $605 million in funding for Charity Care. Despite the difficult times, the Budget maintains current eligibility criteria and copayment levels for Medicaid programs.
Increases funding for mental health services
The Budget provides $274 million to the Division of Mental Health Services, including a $3.5 million increase for community-based services for the mentally ill. Also, $72 million is provided in the Divisions of Mental Health and Developmental Disabilities for community-based services to address the U.S. Supreme Court’s Olmstead decision.
Protects services for the most vulnerable
The Budget provides energy assistance via $71 million in funding for the Lifeline program, which subsidizes natural gas and electricity bills for low-income residents and a $5 million increase in funding for an energy assistance referral program. The Budget preserves funding for programs that support New Jersey’s veterans including veterans’ nursing homes and other support services. Also, $12.4 million of funding is provided to serve clients on the Division of Developmental Disabilities Community Services Waiting List. To meet rising caseloads, the Budget provides $459 million in state and federal funding for cash assistance programs for individuals, childless couples, families, and the disabled, an increase of $42 million.
Returns a tax amnesty windfall to taxpayers
The Budget includes more than $525 million in unanticipated revenue from the most successful tax amnesty program in New Jersey history. The program made it possible to maintain property tax rebates for working families.
