June 01, 2025
Michael Candelori/for PhillyVoice
The five New Jersey Republican gubernatorial candidates each propose various tax cuts including income tax relief, property tax caps, and corporate business tax reductions.
Republicans hoping to reclaim New Jersey's governorship are largely united on how to make the state more affordable.
They want to cut taxes.
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Though virtually all five of the GOP candidates to succeed Gov. Phil Murphy support some form of tax cut — whether through rate changes or awards to offset locally set property taxes — they differ some on the details. The primary is June 10.
State Sen. Jon Bramnick lauded a longstanding Republican proposal to adjust New Jersey's income tax brackets for inflation to combat a phenomenon called bracket creep.
GOP legislators have argued that because the state's income tax brackets are not indexed for inflation, residents' tax rates increase over time with their incomes, cutting into any gains in purchasing power.
Bramnick also suggested simplifying New Jersey's tax brackets, though he did not detail those proposed changes. He said the combined changes would produce $1,600 in annual savings for joint filers, or $1,000 for single filers.
He also proposed requiring school districts to return excess state aid to their property taxpayers, saying it would lower average residents' property tax bills by $800. State school aid, pegged for just over $12 billion in the fiscal year that begins July 1, is funded with income tax revenue.
Former Assemblyman Jack Ciattarelli likewise said he would condense New Jersey's income tax brackets, adding he would "reduce income taxes for all taxpayers" and introduce exemptions and deductions for home improvements and student loan interest. His platform provides no specifics about either plan.
Ciattarelli, who sought the governor's seat unsuccessfully in 2017 and 2021, pledged to reduce New Jersey's corporate business tax rates by five points over as many years. Currently, New Jersey taxes its businesses on non-marginal rates ranging between 6.5% and 9%, depending on net income.
Businesses with more than $10 million in income face an additional 2.5% non-marginal surcharge for what's called the corporate transit fee (which is intended to fund NJ Transit). Counting the surcharge, New Jersey has the highest state business tax rates in the nation. Without it, the Garden State's rates are the nation's fourth highest.
Ciattarelli said he would cap property tax rates to a percentage of a home's valuation. Statewide, locally set property tax rates in 2024 averaged just over 2.6%, according to Department of Community Affairs data.
Ciattarelli also seeks to reduce state spending by 30%, though it's not clear what programs he would slash to produce more than $17.4 billion in savings. Gov. Phil Murphy's budget plan for the next fiscal year calls for about $58.4 billion in spending.
Longtime radio talk show host Bill Spadea's affordability plan offers few details.
It proposes unspecified cuts to individual and business taxes and cites the large growth in spending under Murphy. Gov. Chris Christie's final budget called for $35.5 billion in spending for the 2018 fiscal year, 40% smaller than the final budget proposal of Murphy's second term.
Much of those increases can be attributed to full funding of pension payments and school aid, which together rose by $7.6 billion between Christie's and Murphy's final budget proposals.
The roughly 31% in inflation between the two budgets accounts for much of the remainder, though some budget items are not directly tied to rising prices.
Former Englewood Cliffs Mayor Mario Kranjac's tax plan focuses mainly on property taxes. He said he would seek to cut property taxes, which are locally set, by 2% in each year of his term. The average property New Jersey tax bill was $10,095 in 2024, according to Department of Community Affairs data.
He also said he would seek to cut regulations and business taxes to encourage small business growth but did not provide specifics about either proposal.
Burlington County contractor Justin Barbera has said he would seek to lower taxes for New Jerseyans without children and lower or remove them for seniors, veterans, and those with disabilities.
The details of those proposals are unclear.
New Jersey Monitor is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. New Jersey Monitor maintains editorial independence. Contact Editor Terrence T. McDonald for questions: info@newjerseymonitor.com.
