Corzine’s initial funding cuts could cost Jackson $45,000

Jackson, NJ – The Consolidated Municipal Property Tax Relief Act aid has been withheld in December by Governor Jon Corzine.   A letter sent to municipal comptrollers alerted municipalities of the withholding “as the governor, treasurer, and the executive branch agencies develop a plan for maintaining the constitutionally required balance in the state budget,”

In all, $20 million promised to towns, which have balanced their budgets off figures promised by the state has been withheld, and some fear it could be a permanent withholding as the Corzine grapples with a $1 billion budget deficit.   The deficit comes as a result of eight years of Jon Corzine’s leadership, a former Wall Street executive, managing the state’s finance in the same fashion that has brought financial turmoil to the entire nation.    

High risk investments, bad business deals, out of control spending and ureasonable demands from public workers unions have drained the state’s economy.

How does the $20 million dollar “IOU” affect Jackson?  According to Jackson Township mayor Mike Reina, the township could stand to lose $42,354.50.