TRENTON — Assembly Speaker Sheila Oliver (D-Essex), who Tuesday said she would not stand in the way of a property tax cap compromise reached by Republican Gov. Chris Christie and Senate President Stephen Sweeney (D-Gloucester), formalized her support for it today. “We believe the plan to cap increases at 2 percent and provide exceptions incorporates many of our ideas...
Assembly Speaker Sheila Oliver held a press conference following Gov. Chris Christie's speech to a joint session of the Senate and Assembly in the Statehouse in Trenton last week. TRENTON — Assembly Speaker Sheila Oliver (D-Essex), who Tuesday said she would not stand in the way of a property tax cap compromise reached by Republican Gov. Chris Christie and Senate President Stephen Sweeney (D-Gloucester), formalized her support for it today.
“We believe the plan to cap increases at 2 percent and provide exceptions incorporates many of our ideas to control property taxes and is a significant change from the governor’s initial plan. The proposal has our support,” she said in a prepared statement.
The Assembly Democratic caucus met this morning to discuss the cap, and the Assembly Budget Committee is taking it up this afternoon, hearing testimony from several mayors and public worker union officials.
The proposed cap cuts in half the current 4 percent cap, making exceptions for debt service, pension and health care costs and states of emergency. Towns also could override the cap if a simple majority of voters chooses to exceed it.
The current proposal is the product of a compromise reached after Christie called a special legislative session last weekend to try to force the Legislature to take up his proposed 2.5 percent constitutional cap with exceptions only for debt service and a super majority 60 percent override. The current cap would be done legislatively, making it easier to change in the future than a constitutional amendment.
More coverage:
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• Gov. Christie issues conditional veto of property tax bill in deal with N.J. Dems
• Gov. Chris Christie, N.J. Senate leaders reach deal on 2 percent property tax cap