(Bloomberg) -- New Jersey Governor Phil Murphy and his wife reported their 2018 income as $2.2 million, their lowest in at least nine years, according to their joint federal tax returns.
The figure was one-third of their reported 2017 income. The couple’s highest adjusted gross was $7.3 million in 2015, according to data made available to reporters for examination at the governor’s Trenton office.
Murphy and his wife, Tammy Snyder Murphy, had careers at Goldman Sachs Group Inc., from where he retired as a senior director to become U.S. ambassador to Germany. A Democrat, he took the governor’s seat in January 2018.
About $2.1 million of income was from dividends and capital gains. The Murphys’ effective tax rate was 37.07%, compared with 32.83% a year earlier, according to summaries provided by the governor’s staff. In 2018, the Murphys made about $833,000 in federal and state tax payments.
The couple paid $210,749 in property taxes on the family estate on the Navesink River in Middletown. They also own homes in Germany and Italy.
Tammy Murphy donated period furnishings with a declared of $93,976.68 to the Drumthwacket Foundation, operator of the state-owned governor’s official home in Princeton, which Murphy uses mostly for ceremonial purposes.
The acquisitions, 56 auction lots in all, are to remain at the mansion after Murphy leaves office. They included king-size bedding d at $900; a $2,600 tufted settee in need of new upholstery; a $650 pair of blue and white Delft dining plates; and several wingback chairs and other seating.
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