Noticeably absent from today's press conference was Assembly Speaker Sheila Oliver (D-Essex), whose support remains in question
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There was an air of conviviality in the air during a press conference where Gov. Chris Christie spoke about the property tax compromise. Lt. Governor Kim Guadagno, Senate President and Steven Sweeney joined him in his office at the Statehouse in Trenton for the announcement. TRENTON — Gov. Chris Christie and top legislators unveiled this afternoon a new proposal to cut in half New Jersey's current property tax cap.
The agreement represents a series of compromises from both parties. It would limit property tax increases to 2 percent a year, lower than the current 4 percent cap and lower than previous proposals from Christie and Senate President Stephen Sweeney (D-Gloucester).
It would also decrease the number of expenses exempted from the cap, from 14 to four. Those four exemptions are pension benefits, health benefits, capital expenditures and certain emergencies. An exemption for spikes in school enrollment will remain in place.
A key feature of the proposal is allowing local residents to vote on whether to increase taxes higher than the cap allows. Currently this is handled by a local finance board, but if the proposal is adopted, the only way the cap could be exceeded would be with the approval by a majority of local residents.
"This reaches all the core principles everyone has been talking about," Christie said.
Standing with Christie today at the press conference in the governor's outer office were Lieutenant Governor Kim Guadagno, Senate Minority Leader Thomas Kean (R-Union), Assembly Minority Leader Alex DeCroce (R-Morris) and Sweeney.
"They said it couldn't be done," Sweeney said. "Well, we proved them wrong, governor."
Notably absent was Assembly Speaker Sheila Oliver (D-Essex), whose support remains in doubt.
"The speaker has not been part of any closed door deal," spokesman Tom Hester said in a statement. "As the speaker has said repeatedly, we will thoroughly vet any proposal."
Still, Christie remained confident about the plan's prospects in the Legislature.
"They're going to be clamoring to vote for this," he said. "Part of what this is all about is putting aside ego and getting stuff done."
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Senate Minority Leader Tom Kean Jr., joined Lt. Governor Kim Guadagno, Senate President Steve Sweeney, Gov. Chris Christie and Assembly Minority Leader Alex DeCroce to announce the property tax compromise. The proposal will take the form of a conditional veto. That means Christie will modify the Democrats' 2.9 percent cap bill already approved and send it back to the Legislature for reconsideration on Tuesday. Senate President Stephen Sweeney (D-Gloucester) pledged to advance the legislation on Thursday.
If the Senate approves the legislation, it will be sent to the Assembly for a vote. If it passes there, the governor then has to sign it into law.
The proposal unveiled today is the result of three days of high-level Statehouse wrangling during a special joint legislative session called by the governor to force a showdown over property tax reform.
Democrats and Republicans have previously been at odds over the structure of property tax limits. After Christie on Thursday said he would accept a statutory limit on local property tax increases -- by law rather than by constitutional amendment -- the sticking points remained the exemptions to the cap.
Sweeney has said it does not make sense to include costs beyond a town's control -- such as energy costs and health care -- while Christie described those type of exceptions as the holes in a "swiss cheese" policy. Sweeney previously questioned why the percent increase was not lower than 2.5.
Essex County Executive Joseph DiVincenzo, a key supporter and close adviser to Oliver, said he had been on the phone with her, Christie and Sweeney pushing for the deal. The non-constitutional cap, along with other reforms, would help local governments trying to keep property tax increases down, he said.
He said he expects all the pieces to come together quickly.
"All we need now is just to see a press conference with the three of them standing there," he said, referring to Oliver, Christie and Sweeney. "This is a great deal for New Jersey. I'm totally supportive of it. There's no question I support this deal. I've been telling them that. It's got to get done."
By Lisa Fleisher, Chris Megerian and Josh Margolin/Statehouse Bureau
More coverage:
• N.J. Assembly Speaker has not agreed to Christie, Senate 2 percent property tax cap deal
• Gov. Chris Christie, N.J. Senate leaders reach deal on 2 percent property tax cap
• After day of impromptu meetings in Trenton, fate of proposed property tax cap remains unclear
• N.J. Assembly panel requests more time, testimony to consider Gov. Christie's tax cap
• Special N.J. legislative session kicks off property tax cap showdown
• Gov. Chris Christie's prepared speech to the Legislature