NJ lawmakers look to curb property taxes
(AP) - The Assembly budget committee isconsidering legislation that would lower New Jerseys property taxcap levy.
The proposal would limit annual property tax growth to 2.9percent. The current cap is 4 percent.
New Jersey League of Municipalities executive director BillDressel says he can't support a tighter cap unless arbitrationawards and other personnel costs are also limited.
Gov. Chris Christie wants a 2.5 percent cap written into thestate constitution that would require voter approval. Christie'scap could be exceeded only by the approval of two-thirds of voters.
The Senate budget committee advanced the 2.9 percent capproposal earlier this week. No hearings have been scheduled onChristies proposal.