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P.O. Box 909 ● Trenton, NJ 08605-0909 ● Phone: 609.695.7600 ● Fax: 609.695.0413 ● Web: www.njsba.org/PI |
NEWS RELEASE CONTACT: Frank Belluscio (fbelluscio@njsba.org) FOR IMMEDIATE RELEASE
CAP Bill on Radar Screen
TRENTON, January 24, 2007 - Senate President Richard J. Codey is expected to introduce a bill this week that would provide property tax credits to homeowners and establish 4 percent caps on growth in school, municipal, county and fire district property taxes. “Restrictive caps on property tax increases, combined with continued under-funding of state school aid would lead to education programs cuts,” said Edwina M. Lee, New Jersey School Boards Association executive director. The legislation may reflect some of the provisions of the “super” county superintendent bill, which is stalled in the Senate. That proposal would give sweeping powers over local school district budgeting and staffing to a state official with the title "executive county superintendent." The proposed property tax cap is also expected to allow for limited adjustments for costs out of local school districts' control. The legislation would also permit over-cap ballot questions, but such questions would require a super-majority, 60 percent, for approval. In a radio broadcast Monday morning, Gov. Jon S. Corzine said that legislators’ proposals for property tax reform are contingent upon their approval of bills to establish a 4 percent property tax cap and the office of state comptroller.
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