SPEAKER OLIVER STATEMENT ON 2 PERCENT CAP

(TRENTON) — Assembly Speaker Sheila Y. Oliver (D-Essex/Passaic) issued the following statement on Wednesday:

“The Assembly Democratic caucus — as it always does — had an energetic discussion about property tax reform and where New Jersey goes from here.

“We believe the plan to cap increases at 2 percent and provide exceptions incorporates many of our ideas to control property taxes and is a significant change from the governor’s initial plan. The proposal has our support.

“The 4 percent cap we implemented three years ago has had success, and we’re confident the new cap will build upon it to benefit taxpayers throughout our state.

“We will also hear testimony today during the Assembly Budget Committee about the cap. We will take all thoughts concerns into consideration as we continually look to ensure the cap remains sensible.”

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