NJ governor’s race: Where Ciattarelli and Sherrill stand on taxes

article

NEW JERSEY - Taxes remain one of the top concerns for voters in New Jersey, a state long known for some of the highest property taxes in the nation. Both gubernatorial candidates — Republican Jack Ciattarelli and Democrat Mikie Sherrill — have released plans aimed at lowering costs for homeowners and businesses, though their approaches differ sharply.

Jack Ciattarelli’s plan

Republican Jack Ciattarelli responds to questions during the first general election gubernatorial debate with Democratic opponent Mikie Sherrill, Sunday, Sept. 21, 2025, in Lawrenceville, N.J. (AP Photo/Noah K. Murray)

Ciattarelli’s platform centers on broad tax reform. He proposes capping property taxes at a percentage of a home’s assessed value, reducing the state’s Corporation Business Tax by one percent per year for five years, and consolidating personal income-tax brackets. He has also said he wants to make student-loan interest tax-deductible.

Ciattarelli has rejected claims that he would raise taxes, arguing instead that his plan would make the state more competitive for families and employers.

Key points from Ciattarelli’s platform:

• Cap property taxes at a fixed percentage of a home’s assessed value to make homeownership more affordable.
• Expand the Senior Freeze program to provide greater property-tax relief for older residents.
• Cut the Corporation Business Tax (CBT) by one percentage point per year over five years to attract and retain employers.
• Lower income-tax rates for all taxpayers and consolidate existing brackets.
• Ban new taxes on home improvements to reduce homeowner costs.
• Make student-loan interest tax-deductible to ease financial pressure on graduates.
• Limit state budget growth to no more than the rate of inflation and reduce total state spending by 30%.

Mikie Sherrill’s plan

WESTVILLE, NEW JERSEY - OCTOBER 11: Democratic candidate for New Jersey Governor Mikie Sherrill speaks to a crowd alongside Minnesota Senator Amy Klobuchar, in Westville New Jersey on Saturday, October 11, 2025. Sherrill is set to square off against ((Photo by Matthew Hatcher/Getty Images))

Expand

Sherrill has said she wants to ease property-tax pressure on middle-income homeowners by expanding rebates and credits. According to Sherrill's "Affordability Agenda," her tax proposals include:

• Child Tax Credit: Expand New Jersey’s Child Tax Credit to cover more families and increase the benefit amount.
• Earned Income Tax Credit: Broaden eligibility and raise the value for working-class residents.
• Caregiver Tax Credit: Create a new state credit for people who care for aging or disabled family members.
• Sales Tax Holiday: Reinstate the back-to-school sales-tax holiday to reduce seasonal costs for families.

Sherrill has framed her plan as a way to keep families in the state and help local economies grow, positioning affordability as the defining issue for New Jersey’s next governor.

Why you should care:

New Jersey consistently ranks among the most expensive states for both property and business taxes. Analysts say the next governor’s approach could determine whether the state continues its current spending trajectory or pursues structural reforms to attract new investment.