New Jersey Governor Chris Christie has announced the launch of a new web page, “Cap 2.5: Real Property Tax Relief Now,” on his official website, http://www.state.nj.us/governor.
The web page will serve as a resource for information on Governor Christie’s proposed amendment to the New Jersey State Constitution.
The web page features a video message from Governor Christie, footage from town hall meetings and a detailed fact sheet on Cap 2.5. In addition, visitors can find a list of mayors who have voiced support of the proposed amendment and the option to sign a petition in support of Cap 2.5.
Cap 2.5, the centerpiece of Governor Christie’s reform agenda, is a constitutional amendment creating a 2.5% cap on the increase in the property tax levy by municipal, school and county taxes and a 2.5% cap on spending for State government operations.
Under Governor Christie's proposal, the property tax levy cap allows for adjustments in the event a municipality adds new ratables, and provides a single exclusion from the cap: debt service payments.
Please visit Governor Christie’s Cap 2.5 web page at http://www.state.nj.us/governor/cap/ and check for updates on the Cap 2.5 Facebook page or on Twitter under #cap2andahalf.