School, Municipal Representatives Criticize Property Tax Cap Deal Reached In Trenton

trentonTeachers union, school board and municipal representatives this evening said a plan to lower the state’s property tax cap to 2 percent would hamstring local governments, but they had varying concerns. The plan, a compromise reached between Gov. Chris Christie and Senate Democrats, would tighten the limit on property tax increases, lowering the cap from 4 percent to 2 percent and limiting exceptions to pension, health care, debt payments, natural disasters or rising school enrollment. The current policy allows local governments to ask the state to go over the cap for a number of reasons — including for costs deemed necessary for the “health, safety or welfare” of the community. The Assembly Democrats have not signed on, saying they need more time to vet the proposal. Both houses need to approve legislation. Full story in Star Ledger.

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