New Jersey Property Taxes Get a 2% Annual Cap

By Alec Foege | Posted Jul 13th 2010 3:23PM
1 Comments ∨

Some said it would never happen in the state with the highest real estate taxes in the nation. But it did on Monday, when Garden State lawmakers installed a 2 percent limit on annual property tax increases by local communities. Maybe Bruce Springsteen will write a song about it. The new law, which allows voters in each town or school district to exceed the cap if they desire, is being regarded as a victory for New Jersey's Republican governor, Chris Christie.


Filed under: News, Economy
 

Add Your Comments


Please keep your comments relevant to this blog entry.Email addresses are never displayed, but they are required to confirm your comments. When you enter your name and email address, you'll be sent a link to confirm your comment, and a password. To leave another comment, just use that password.


To create a live link, simply type the URL(including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted - no need to use <p> or <br> tags.

Poll

Mortgage rates are at an all-time low. What's keeping you from buying?
Lender requirements are too strict. I can't qualify for a loan.5025 (39.5%)
I have to sell my current home first.4348 (34.2%)
You could bring the interest down to 0 percent -- I still couldn't afford the monthly payments.3359 (26.4%)
AOL RealEstate on Facebook