VIDEO: With Gov. Chris Christie’s signing of a landmark property tax cap bill Tuesday, New Jerseyans will get to decide if their towns and school districts can go beyond the law’s limits to spend extra cash on everything from hiring police officers to buying a new trash truck. The 2 percent ceiling, lauded by Christie and lawmakers as a turning point for fiscal discipline, will force towns and schools to limit property tax collections like never before.
But taxpayers will have to wait until next year before any of these sweeping changes actually take effect.
The caps won’t have an impact on residents’ tax bills this year because town and school budgets have already been passed with the existing 4 percent limit. And state officials are still hammering out the details on exactly how voters will get to make their voices heard.
“It’s time to put it in the hands of the people,” the Republican governor said, flanked by supporters at a firehouse in Hamilton Township. “The more voter involvement we have in these kind of things, the better off we’re going to be.” Read more in Star Ledger.
| N.J. Gov. Christie signs 2 percent property tax cap bill |
Bogus! There are exemptions for many things, like covering health care costs. This is not a cap at all – it’s a feel-good, smoke and mirrors bill to keep us quiet.
My decision? OK. All double-dippers get laid off. Non-essential people get laid off. No one in a PART TIME position gets ANY benefits (retirement, pension, health care, etc.) All NEW pensions go to a 401K. All NEW health care – get your own, like in the private sector.