Chris Christie's election year tax proposal - a 10% refund on your property taxes

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Christie's plan calls for households earning up to $400,000 to receive an income tax credit equal to 10 percent of their property tax bills to be phased in over four years and capped at $10,000.

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He did not say what the tax cuts would cost or how the state would pay for them, making no mention of the state’s 9.3 percent unemployment rate, which is above the national average of 7.7 percent.

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Assembly Speaker Sheila Oliver (D-Essex) said many of Christie's proposals have no funding source.

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Assembly Budget Chairman Vincent Prieto (D-Hudson) called the move “pandering” that would go nowhere.

“The Assembly leadership has made it very clear they would consider a tax cut that was paid for responsibly, but Gov. Christie zealously protects tax breaks for the mega-rich and mismanaged the state budget into a massive shortfall,” Prieto said in a statement. “So despite Gov. Christie's pandering, not a single thing has changed."

http://www.nj.com/politics/index.ssf/2013/04/christie_revives_tax_cut_and.html