Assemblyman Paul Moriarty had the following published on www.newjerseynewsroom.com:
“New Jersey recently struck a crucial blow in what will no doubt be a lengthy battle to once and for all slay runaway property taxes. As a prime sponsor of this historic, bipartisan effort to cap annual property tax increases at 2 percent, it was gratifying to see it signed swiftly into law.
“In all fairness, this is actually the crucial second blow we have struck, one that builds upon the demonstrable success of the 4 percent cap passed by Democrats in 2007. Since this first cap was instituted, property tax increases dropped dramatically from an average of more than 7 percent annually to 3.3 percent. That was progress, but clearly it wasn’t enough…”
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