NJ.com - Christie, Daggett Outearn Corzine In 2008

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Among the three major candidates for governor, independent Chris Daggett says he is the closest to an average New Jersey taxpayer. But his income is by no means average.

Tax returns released by Daggett yesterday show he and his wife pulled down $287,240 last year. While he earns the least of the three major candidates, Daggett's household income far surpasses the state's $66,509 household median.

Democratic Gov. Jon Corzine, a multimillionaire from his days as a Wall Street executive, reported a $3.13 million loss on his federal return, and Republican Chris Christie's returns show the former federal prosecutor and his wife, Mary Pat, earned $446,854 last year.

All three major candidates for governor filed for an automatic tax-filing extension this year, and their returns were due yesterday. Copies were provided to The Star-Ledger at the newspaper's request. It was the first time Daggett has opened his private financial records to public scrutiny, a tradition for New Jersey candidates running for statewide office.

Daggett, a former government official who is now an environmental consultant, and wife Beatrice, a real estate saleswoman, paid a total $55,805 in federal income tax and received a refund of $2,509. Beatrice Daggett earned about $56,000 of their income, Chris Daggett said.

The independent's return shows the couple gave $21,552 in charitable donations and paid $12,949 in state income tax.

In an interview, Daggett acknowledged that he, like his opponents, is wealthier than average residents "' but stressed he has always made it a priority to live the middle-class lifestyle in which he was raised.

"I've never forgotten my roots," said Daggett, who lives in Basking Ridge. "I don't live in any kind of ostentatious fashion. Did I get lucky? You bet I did."

He also said he put his wealth to good use by spending a total of $400,000 on a college education for his two daughters.

Christie's returns showed the lion's share of $446,854 in income was brought in by Mary Pat Christie, a bond broker, who made more than $292,500 in 2008. The Christies got a federal tax refund of $6,068 and gave $21,230 in charitable donations. They paid $19,908 in state tax.

Christie also reported interest income of $2,409 from a $46,000 loan he made in October 2007 to Michele Brown, his former deputy at the U.S. Attorney's Office. Christie came under fire from Democrats earlier this year when he admitted he left the loan off his tax returns and federal and state disclosure reports. Christie called it a "mistake" and an "oversight" and said he would amend the forms.

Corzine did not pay income tax last year after reporting a $3.13 million loss. Corzine takes only $1 a year from his job as governor and relies on his vast investment portfolio. He took the financial hit in the economic collapse that has also hurt state revenues and his job approval ratings.

Corzine reported a federal tax refund of $125,369. According to Corzine's state tax return, which has different rules to calculate losses, the governor actually made $55,504 last year. He owed state government $1,520 in taxes, which was billed against prior credit from 2007.

Despite his financial losses, Corzine is continuing his normal practice of paying for his campaign almost entirely out of pocket, shelling out more than $15.6 million so far.

Claire Heininger may be reached at cheininger@starledger.com. Josh Margolin may be reached at jmargolin@starledger.com.

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