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Governor Christie Launches Cap 2.5 Property Tax Savings Calculator

• Monday, June 21, 2010
• Tags: Property Taxes

Trenton, NJ - Continuing to demonstrate the significant, long-term impact of Governor Christie's Cap 2.5 Reform Agenda on New Jersey's highest-in-the-nation property taxes, the Office of the Governor today launched a new online database that calculates the effect of a 2.5 percent property tax cap for every municipality in the state over the last 10 years. This new resource, available as a page on the Governor's website, allows New Jerseyans to view information on property taxes in their community and displays what the savings would be today if Cap 2.5 were in place 10 years ago. 

A hard 2.5 percent cap on increases in the property tax levy in the form of a constitutional amendment would provide New Jerseyans stability in their property taxes from year-to-year that is not subject to change without the voters' approval and can't be waived at the whim of future governors or legislatures.  As the new database makes clear, putting Cap 2.5 on the ballot would ensure New Jersey families consistent and reliable relief from unsustainable and unaffordable property tax increases.

Cap 2.5 will provide a real, long-term solution to the property tax crisis in the Garden state, and finally bring the tax relief families and businesses in New Jersey have long needed.

New Jerseyans can access property tax information on all 566 New Jersey municipalities including average property tax figures from 1999, average property tax figures from 2009, and the average annual increase in their property tax bill since 1999, and how much lower that figure could have been under the Christie Reform Agenda.

Press Contact: Michael Drewniak 609-777-2600