New Jersey Budget Analysis
Comparing campaign promises to state and local fiscal realities for the 2025 gubernatorial race.
Property Tax and Inflation
Comparison of historical property tax growth and inflation
Jack Ciattarelli Budget Summary
View full analysis- 62% reduction in property tax through universal application of 1% cap of assessed value
- Across-the-board 30% reduction in expenses (before impact of new expenses)
- $18.7B annual increase in combined state and local budget deficit
- Projected loss of 19,000 teaching positions as property tax revenues decline
- Projected 9,100 fewer police and firefighters due to municipal shortfalls
- $4.8B reduction in Medicaid (NJ FamilyCare) funding
Mikie Sherrill Budget Summary
View full analysis- $853M annual increase in state budget deficit
- $584M in tax reductions for families with grade school and Pre-K children
- $251M additional expenses to expand Pre-K and school meal programs