Learning Center
Plans & pricing Sign in
Sign Out

Porous cap can't solve a tax crisis


Senate President Stephen Sweeney (D-West Deptford) last week unveiled a plan that calls for a 2.9 percent limit on property tax increases, but would exclude pension and health care costs, among others.

More Info
 Our Point of view

 Porous cap                                                                                                                                                                                                  ®

 can’t solve
                                                                                                                                                                                    June 28, 2010

                                                                                                                                                                               How to Reach Us

 a tax crisis
                                                                                                                                                                       Mailing address
                                                                                                                                                                       njbiz, 220 Davidson Ave, Suite 302
                                                                                                                                                                       Somerset, NJ 08873
                                                                                                                                                                       Phone (732) 246-7677
 sTaTehouse             CaFeTeria                                                                                                                                      Fax: editorial (732) 249-8886
                                                                                                                                                                       Fax: advertising (732) 249-8952
 workers should check legislative                                                                                                                                      Fax: oPerations (732) 846-0421
 hat racks if they find a colander                                                                                                                                     subscriPtions (866) 288-7699
                                                                                                                                                                       rePrints For article reprints, please
 missing — lawmakers have con-                                                                                                                                         contact our reprint coordinator at
 fused it for a property-tax cap.                                                                                                                                      Wright’s Reprints: 1-877-652-5295.
                                                                                                                                                                       For photos, please see
       We were pleased when
 Chris Christie introduced his                                                                                                                                         PubliSheR
 plan to put forth a constitutional                                                                                                                                    thomas F. curtin
 amendment that would put a
 hard 2.5 percent cap on prop-
                                                                                                                                                                       DiReCTOR OF SAleS
 erty tax increases. if adopted,                                                                                                                                       Mark cialdella
 any amount above that number                                                                                                                                          SeNiOR ACCOuNT exeCuTive
 would need voter approval.                                                                                                                                            Penelope spencer
       That’s great news for busi-                                                                                                                                     ACCOuNT exeCuTiveS
                                                                                                                                                                       susan alexander
 nesses, which would welcome any
                                                                                                                                                                       ryan boyd
 measures that rein in the onerous                                                                                                                                     samantha d’amore
 tax that’s among the highest paid                                                                                                                                     craig Fallon
                                                                                                                                                                       joe Malone
 in the nation. an observer might
 think residents would be excited
 about this, too; new Jerseyans,                                                                                                                                       eDiTOR
 though, are spoiled by “services”                                                                                                                                     sharon Waters
 like expensive beach badges and                                                                                                                                       DePuTY eDiTOR - NeWS
                                                                                                                                                                       joe st. arney
 pothole-strewn roads, and are in

                                         Adding competition could be
                                                                                                                                                                       DePuTY eDiTOR & RePORTeR
 some cases protesting the gover-                                                                                                                                      beth Fitzgerald
 nor’s plan to put them in greater                                                                                                                                     Nonprofits/health Care/Retail
 control of local spending.                                                                                                                                            COPY eDiTOR
       That’s given the Legislature                                                                                                                                    Meghan shapiro

                                         a boon to public investments
 the courage to advance another                                                                                                                                        STAFF WRiTeRS
 version of the colander-like soft                                                                                                                                     Martin c. daks
 cap Jon Corzine made officials                                                                                                                                        Trenton bureau/Sports and entertainment
 wear a couple years ago. sen-                                                                                                                                         andrew Kitchenman 
To top