Porous cap can't solve a tax crisis by ProQuest


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.

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 Porous cap                                                                                                                                                                                                  ®

 can’t solve
                                                                                                                                                                                    June 28, 2010

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 a tax crisis
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       We were pleased when
 Chris Christie introduced his                                                                                                                                         PubliSheR
 plan to put forth a constitutional                                                                                                                                    thomas F. curtin tcurtin@njbiz.com
 amendment that would put a
 hard 2.5 percent cap on prop-
                                                                                                                                                                       DiReCTOR OF SAleS
 erty tax increases. if adopted,                                                                                                                                       Mark cialdella mcialdella@njbiz.com
 any amount above that number                                                                                                                                          SeNiOR ACCOuNT exeCuTive
 would need voter approval.                                                                                                                                            Penelope spencer pspencer@njbiz.com
       That’s great news for busi-                                                                                                                                     ACCOuNT exeCuTiveS
                                                                                                                                                                       susan alexander salexander@njbiz.com
 nesses, which would welcome any
                                                                                                                                                                       ryan boyd rboyd@njbiz.com
 measures that rein in the onerous                                                                                                                                     samantha d’amore sdamore@njbiz.com
 tax that’s among the highest paid                                                                                                                                     craig Fallon cfallon@njbiz.com
                                                                                                                                                                       joe Malone jmalone@njbiz.com
 in the nation. an observer might
 think residents would be excited
 about this, too; new Jerseyans,                                                                                                                                       eDiTOR
 though, are spoiled by “services”                                                                                                                                     sharon Waters swaters@njbiz.com
 like expensive beach badges and                                                                                                                                       DePuTY eDiTOR - NeWS
                                                                                                                                                                       joe st. arney jarney@njbiz.com
 pothole-strewn roads, and are in

                                         Adding competition could be
                                                                                                                                                                       DePuTY eDiTOR & RePORTeR
 some cases protesting the gover-                                                                                                                                      beth Fitzgerald bfitzgerald@njbiz.com
 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 mshapiro@njbiz.com

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