Gov. Christie Issues CV of Prop Tax Cap Bill
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Cap Compromise Moves Forward
July 7, 2010
Gov. Chris Christie July 6 conditionally vetoed S-29/A-3065 (Sweeney / McKeon). The conditional veto formalized a compromise reached on July 3 with Senator Sweeney.
In his veto message, Christie outlined changes worked out in a deal with Senate President Stephen Sweeney (Gloucester) (Governor & Senate President Reach Cap Compromise July 3, July 3). Specifically, a 2 percent cap on property tax increases with exceptions for healthcare costs, pension costs, rising school enrollment, debt service and capital expenditures and emergency allocations. The compromise to 2 percent — down from Christie’s 2.5 percent and Sweeney’s 2.9 percent — allows for more exceptions than the governor had wanted and fewer than the Senate president had sought.
Under the proposed cap, local governments would only be allowed to raise property taxes 2 percent a year, giving them a key pass for rising pension and health care costs, debt payments, rising school enrollment and states of emergency.
Schools and towns would have to ask voters for approval to raise taxes above the limit, with a simple majority needed for approval.
The governor's original proposal was for the Legislature to put a question on the ballot in November that would create a constitutional amendment capping property tax growth at 2.5 percent, exempting only payments for debt service, unless local voters wanted to exceed it. But Christie and Sweeney both made concessions in the agreement announced July 3, the third day of a contentious special legislative session following passage of Christie's $29.4 billion budget.
"I remain convinced that a constitutional amendment imposing a cap on increases in tax levies by local government units will provide the surest means to rein in skyrocketing property tax costs," Christie wrote today. "However, the Legislature has sent me Senate Bill No 29 with its 2.9% cap and numerous exceptions. Through the recommendations contained in this conditional veto, we can achieve a hard 2.0 percent statutory cap with direct voter involvement."
The amended bill will have to pass both houses of the Legislature to become law. Sweeney predicted a landslide when the Senate votes July 8.
Assembly Speaker Sheila Oliver (Essex), who was not involved in Saturday's deal, said July 6 that the Assembly will not stand in the way of the compromise but she wanted to discuss additional concerns with Christie (Assembly Speaker Will Not Block 2.0 Property Tax Compromise, July 6). The Assembly Budget Committee is scheduled to examine the 2 percent cap at a meeting July 7.