The governor’s tool box is empty:
· Of 33 proposals, 22 bills were introduced.
· Of the 22 bills, 15 were certified as needing fiscal notes.
· So only two-thirds of the bills even have a fiscal impact, meaning one-third would have absolutely no impact on property taxes.
· Of the 15 bills, fiscal information from the administration was received on three.
· Of these three, one showed state savings of $140,000 annually and indeterminate potential local savings. one showed additional state revenue of $440,000 and one showed additional state costs of up to $331,000.
· Thus, the fiscal information provided by the Christie administration on ‘toolkit’ measures shows a net state savings/revenue increase of up to $288,000.
· Keep in mind that property taxes fund local government, not state government.
· OLS did fiscal estimates on three additional bills. Of these, one is cost neutral, one showed indeterminate potential local revenue gains and one showed indeterminate potential state and local costs and an indeterminate potential restraint of growth rate in property tax levies.