TRENTON – Gov. Chris Christie offered Democrats a compromise yesterday in the battle over property tax cap proposals.
Christie had originally called for a constitutional amendment to limit annual tax increases to no more than 2.5 percent, but yesterday he told lawmakers that he would accept a cap set by law instead.
The Legislature had already passed its own 2.9 percent property tax cap bill, but it allows more exceptions to the cap than Christie’s proposal and the governor does not support it.
“The job is not complete,” Christie told lawmakers. “In the past decade, local government spending has grown 69 percent. And property taxes have grown 70 percent. This is not a coincidence, it is a cause.”
Christie has called another special session of the full Legislature today, but Democrats have scheduled committee hearings on various property tax relief measures. Democratic lawmakers plan to study proposals over the summer and wait until fall before passing any legislation.
“We’ve seen the pitfalls of rushing policy, so we will do this the right way,” said Assembly Speaker Sheila Y. Oliver (D-Essex/Passaic.)
Chrisite hopes to see action sooner. “The time has come for a bipartisan solution to the single-most important issue facing our citizens – ending, once and for all, a thirty-year cycle of escalating property taxes. We cannot delay any longer,” he said.
Connect with NJTODAY.NET
Join NJTODAY.NET's free Email List to receive occasional updates delivered right to your email address!