Now that the Assembly has approved a $2 billion program of property tax credits, the New Jersey homeowner tax dilemma might be on its way to a resolution. Supporters say the measure will cut property taxes by as much as 20 percent for almost three quarters of all New Jersey homeowners. It will also limit future property tax increases to 4 percent a year. Still, some New Jersey residents fear they won't benefit even if the tax cuts do go into effect and others say they are completely doubtful that any type of tax cut will go into effect. The tax reform package also includes the appointment of a state comptroller to oversee spending and pension reform. The Senate will meet next week to consider the tax cut and cap, and possibly the amended pension reform bill.

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