McKEON, BARNES & BURZICHELLI: SIGNING OF BILL CAPPING PROPERTY TAXES AT 2 PERCENT ANNUALLY JUST A START

(TRENTON) – Assemblymen John McKeon, John Burzichelli and Peter Barnes on Tuesday welcomed the signing of a flexible and statutory 2 percent cap on annual property tax increases, but said the plan itself is not a solution to New Jersey’s property tax woes.

McKeon, Barnes and Burzichelli sponsored the Assembly’s initial cap legislation (A-3065), which was conditionally vetoed by the governor and approved by the Legislature.

“This flexible and statutory plan is far different from what the governor first proposed,” said McKeon (D-Essex). “Still, I think everybody realizes this is not a perfect bill, so we must resolve to work together to make additional changes to, among other things, protect children with special needs. Then we must work toward the systemic reforms that need to go in place.”

“This plan is a key step in the right direction for New Jerseyans who for too long have been looking for some stability when it comes to property taxes, but it’s not a solution,” said Barnes (D-Middlesex). “This plan at least builds on the work and ideas of many of my Assembly Democratic colleagues and provides a framework for further reform to benefit taxpayers.”

“We’ve come a long way from what the governor initially sought, and we will have to keep working hard to bring about more expansive changes that will benefit property taxpayers,” said Burzichelli (D-Gloucester/Salem/Cumberland). “New Jerseyans desperately need real tax relief, so we will continue working to push forward other concepts in the months ahead.”

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