New Jersey Assembly Democrats:Schaer, Caride, Eustace & Lagana Call Veto of Bill to Protect Homeowners from Greater Tax Burden Another Missed Opportunity

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Schaer, Caride, Eustace & Lagana Call Veto of Bill to Protect Homeowners from Greater Tax Burden Another Missed Opportunity

(Trenton) - Assembly Democrats Gary Schaer, Marlene Caride, Tim Eustace, and Joseph Lagana (all D-Bergen, Passaic) issued a joint statement expressing their disappointment in the Governor's decision to absolute veto their legislation (S-762/A-3328) that would have protected homeowners against increases in property taxes as a result of recent changes to the federal flood maps:

Assemblyman Gary Schaer:
"This is truly unfortunate for the residents of Bergen and Passaic counties. What we did not want was for the increases on municipal rates to be translated into higher property taxes for homeowners. With the third highest property taxes in the country, we should not overlook any opportunity to protect residents from a greater tax burden."
Assemblywoman Marlene Caride:
"This was an opportunity to help the many families still struggling to rebuild in the aftermath of Sandy by warding off significant increases in property tax due to recent FEMA map changes. The Governor's veto of this legislation only adds more to an already full plate for these struggling families in certain areas, especially for residents in Bergen and Passaic areas."
Assemblyman Tim Eustace:
"Our legislation would have helped to alleviate NJ homeowners' increased property tax burden caused by recent changes to flood mapping. Reinforcing this tax levy cap would have protected homeowners, particularly in the Bergen and Passaic county region but also homeowners throughout the state."
Assemblyman Joe Lagana:
"The absolute veto of the legislation will have consequences that will affect many of New Jersey's communities. It leaves homeowners in the newly designated flood areas susceptible to higher property tax increases. For counties such as ours, Bergen and Passaic, residents would have been protected from any potential increased tax burden levied by municipalities. The Governor's decision to not take decisive action to protect homeowner's in these areas is extremely disappointing."
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