“Governor Christie’s Cap 2.5 Reform Agenda provides the necessary steps required to rebuild our state,” said Jackson Mayor Michael Reina. “I admire Christie’s bold move to cap property taxes, showing that New Jersey is working for its people, and not the other way around. I support the Christie Reform Agenda and ask that Mayors around the State make the same decision. It is time to give our tax-payers a well deserved break.”
Legislative committee approval for the Cap 2.5 constitutional amendment is needed before the first week of July in order to meet the deadline for the bill to be moved to the floor and approved for placement on the ballot and consideration by the voters in November. Governor Christie is urging the Assembly and Senate leadership and legislators of both parties to work with him in putting this critical government reform before the voters for approval this November.
Today’s announcement follows the release of 81 mayors from Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union and Warren counties for the Governor’s Reform Agenda, bringing the running total of mayors from around the state supporting the Governor’s reform for real property tax relief to 138, and growing.
On May 10th, the Governor outlined a sweeping 33-bill reform package to solve New Jersey’s property tax crisis and control spending at every level of government. The centerpiece of the plan is Cap 2.5, a constitutional amendment creating a 2.5 percent cap on property tax increases.
Property taxes have grown an astonishing 70% over the last ten years, resulting in an average annual property tax bill of $7,281 on New Jersey families – the highest rate in the nation. Cap 2.5 will halt the astonishing growth in property taxes while the Christie Reform Agenda will give towns and school boards the tools needed to control spending to make Cap 2.5 both realistic and achievable.