Cap 2.5 Reform Will Provide Tax Relief To Lower Families
"In every corner of the state, in every community and in every home, the number one issue facing New Jersey families is our highest-in-the-nation property taxes," said Governor Christie. "After thirty years of abject failure, it's time to take the power away from the politicians in Trenton and put in back in the hands of the people by putting a constitutional cap on property taxes and empowering people of Lower Township with the final say over their property taxes.
"Now is the time to let the people decide and finally giving New Jerseyans the ability to have real, sustainable property tax relief. I am thankful for the support and leadership of Mayor Michael Beck in standing up for real, long-term property tax relief for the people of Lower Township."
CAP 2.5 PROVIDES REAL RELIEF FOR LOWER TOWNSHIP FAMILIES
The Cap 2.5 Reform Agenda would provide real, long-term property tax relief for families in Lower Township. In 2009, the average residential taxpayer in Lower Township paid $3361 in property taxes.
If Cap 2.5 were in place 10 years ago, property taxes would be $2670, a savings of $691.
217 mayors from every corner of the state and across political parties have endorsed the Christie Reform Agenda. A full list can be viewed on the Governor's Cap 2.5 Reform Agenda Website.
A hard cap that limits property tax increases at 2.5 percent will provide stability in property taxes from year-to-year and put the power to decide whether to exceed the cap with the people. As a constitutional amendment, it is protected from being changed or waived at the whim of future governors or legislatures. The Governor's Reform Agenda also includes a 33-bill legislative package of "tool kit" reforms designed to give local government the tools it needs to control costs, manage their budgets more effectively and work within a 2.5 percent limit on taxes.