Fulop releases affordability platform

Jersey City Mayor Steve Fulop released his gubernatorial campaign’s eighth policy platform on Monday, sharing his plans to improve affordability in the state. 

The plan includes proposals to make it harder for municipalities to issue debt and reform Stay NJ, a property tax relief program for New Jersey’s seniors. The mayor also said he would bring an “abundance” mindset to housing supply and adjust how homes are valued for tax purposes. (Fulop has a separate but complementary housing plan.)

Fulop released the platform on Tuesday alongside South Orange Mayor Sheena Collum, his pick for lieutenant governor.

“Every other campaign gives you the same talking points that residents have heard for decades, with limited results,” Fulop said in a release. “This plan is about taking concrete steps that drive down costs. Being a mayor is a huge asset for the next Governor to have as experience because of the way New Jersey is structured.”

Much of the platform depends on how term-limited Gov. Phil Murphy’s term closes out: the state currently has $1.2 billion dedicated to the Stay NJ program, which would cut property tax rates for seniors by as much as 50%. But the money will only be released if the state fulfills certain obligations, including a 12% surplus in its annual budget.

Depending on whether those obligations are fulfilled, Fulop said he has two different plans for the Stay NJ program.

If the Murphy administration meets its obligations to start Stay NJ, Fulop said he would largely honor the program, but amend it to include senior renters and lower the income cap to “avoid subsidizing already wealthy homeowners.”

If the state fails to start the Stay NJ program in time for next year, Fulop said he would reform the program into a “circuit breaker” setup and limit all property taxes to an affordable level of a homeowner’s income.

“I know there are some interests that aren’t going to like what I’m saying here, because the truth is they like the way the system works for them today,” Fulop said. “However, we all know the system today isn’t working for New Jersey residents. You will never get structural change in NJ by asking nicely, so it’s time that a candidate outlined a plan to actually change the state.”

Fulop has released platforms on public safety, transportation, healthcare, government reform, and more.