Assembly OKs measure that would give many NJ homeowners property tax cut
A major property tax cut passed in the state Assembly 71 to eight Monday night. The measure would give many New Jersey homeowners a 20 percent property tax cut. It would also restrict future property
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Jan 30, 2007, 3:44 AM
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Updated 6,468 days ago
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A major property tax cut passed in the state Assembly 71 to eight Monday night.
The measure would give many New Jersey homeowners a 20 percent property tax cut. It would also restrict future property tax increases to 4 percent a year. Governor Jon Corzine (D-NJ), though, is cautioning that Garden State taxpayers shouldn't expect property tax increases to immediately hold to 4 percent.
The measure is slated for Senate consideration on February 5. Meanwhile, the Assembly is considering other major property tax bills, including the creation of a state financial comptroller and a BRAC-style commission to recommend consolidation.
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