Dedicates Annual Revenue of an Amount Equal to a Tax Rate of 1% Under the State Sales Tax for Property Tax Reform
New Jersey Ballot Measure - Public Question 1
Election: General Nov. 1, 2007 (General)
Outcome: Failed
Categories:
Housing and PropertyTaxes
Summary
INTERPRETIVE STATEMENT This constitutional amendment provides that an amount equal to the annual revenue derived from a tax rate of 1% imposed under the New Jersey Sales and Use Tax Act shall be annually dedicated in a special account in the Property Tax Relief Fund and annually appropriated for property tax reform.
Measure Text
Do you approve the amendment of Article VIII, Section I of the Constitution of the State of New Jersey, to provide for the annual dedication and annual appropriation of an amount equal to the annual revenue derived from a tax rate of 1% imposed under the New Jersey Sales and Use Tax, exclusively for the purpose of property tax reform, through a special Property Tax Reform Account established in the constitutionally dedicated Property Tax Relief Fund?
Resources
Source