But shared services often yield savings only on a case-by-case basis at the local level rather than statewide, said Rutgers’ Pfeiffer, while Ciattarelli’s proposal for an alternating property tax rate could run afoul of the state constitution.
“You can’t give some people a lower rate than other people,” Pfeiffer said. “You have to assess everybody at the same standard.”
“What Trump and Congress did at that point was dramatically increase the standard deduction but decrease the amount you could deduct for state and local taxes,” said Marc Pfeiffer, a senior policy fellow at Rutgers University’s Bloustein School of Planning and Public Policy, who studies local government in New Jersey.
“What Trump and Congress did at that point was dramatically increase the standard deduction but decreased the amount you could deduct for state and local taxes,” said Marc Pfeiffer, a senior policy fellow at Rutgers University’s Bloustein School of Planning and Public Policy, who studies local government in New Jersey.
The Republican tax plan in the U.S. House would raise the cap for the state and local property tax deduction from the current $10,000 to $30,000 for families making up to $400,000. That’s according to legislation released May 12 by the Republican-led House Ways and...