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New Jersey
Annual tax revenue change: -0.3%
Jan.-Mar. 2008 tax revenue: $6.410 billion
Annual home value change: -1.15%
The state's economic slump is due to the weak housing market and rising inflation. The state legislature this week passed a $32.8 billion budget that is $600 million less than the current budget. New Jersey plans to trim the budget by offering early-retirement incentives for state employees and through attrition.
