New Jersey Caps Property Tax Increases

Lawmakers in New Jersey have approved a bill that will limit annual property tax increases to 2%.

The bill does allow towns and cities to exceed the limitation if voters approve.

"The new law includes exceptions for certain kinds of expenses, and also allows voters in each town or school district to exceed the limit and tax themselves more, leaving it unclear what the effective ceiling will be.

At a time when Trenton has little good news to offer, the final vote by the Assembly on Monday, 73 to 4, was a political victory for Gov. Chris Christie, a Republican, and for lawmakers of both parties, allowing them to go back to restive voters and claim a popular move."

Full Story: New Jersey Puts 2% Cap on Local Property Taxes

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.
$36.00
Book cover of Contemporary Debates in Urban Planning

Contemporary Debates in Urban Planning

Featuring thought-provoking commentary and insights from some of the leading thinkers and practitioners in the field.
$18.95