By David Madden

MARLTON, NJ (CBS) — Less than 24 hours after winning the GOP Gubernatorial nomination, New Jersey Lieutenant Governor Kim Guadagno kicked off her fall campaign with a stop in Burlington County, to talk property taxes.

Guadagno met with Evesham Township Mayor Randy Brown and selected homeowners around a kitchen table in Marlton to discuss her plan to not just keep those taxes in check, but to lower them.

Her plan calls for what she’s termed a “circuit breaker”, a plan already in place in a few states like Massachusetts and Illinois.

It would establish a cap of 5% of a household’s annual income that could be used to pay for school property taxes.

img 2978 Kim Guadagno Begins Fall Campaign For NJ Governor In Burlington County

Kim Guadagno (2nd from left) sitting with Marlton homeowners. (credit: David Madden)

“I think it’s also something that has to get done right now because, think, while we work towards a new school funding formula, it’s going to take too long,” Guadagno told reporters after the session.

Guadagno is calling for a performance audit to identify some $1.5 billion in cost reductions to pay for the plan.

“We haven’t done a full-court analysis of what New Jersey’s employees are doing for 30 years,” she added. “The last time it was done was with Governor Kean. Let’s do it again.”

And if she hasn’t lowered those taxes in her first term, Guadagno says she won’t seek a second term.

Asked about a potential running mate, she expects to make that decision by mid-July.

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