“Governor Christie’s Cap 2.5 Reform Agenda provides much-needed tools to control costs and deliver real, permanent property tax relief,” said Mannington Township Mayor Ernest Tark. “Solving the property tax crisis in New Jersey is an important step in making our state affordable for families again and a home for economic growth. I’m proud to join the other mayors from around the state who are supporting the Governor’s Reform Agenda and calling for the legislature to act on these reforms immediately.”
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 brings the running total of mayors statewide supporting the Governor’s reform for real property tax relief to 182, 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.