The state Assembly will vote on a plan to lower the property tax cap to 2 percent on Monday, the leader of the lower house said today.
“We know that the residents of this state want to see tighter restraints put on their property taxes, but we also know our work is far from finished,” said Assembly Speaker Sheila Oliver (D-Essex) in a prepared statement. “This will be a strong step, but concerns about how schools will fit the costs of special education services so vital to many children are among the many areas that will need to addressed going forward.”
The state Senate voted to approve the plan — reached as a compromise between competing plans from Gov. Chris Christie and Senate President Stephen Sweeney (D-Gloucester) — this morning. The Assembly had been the wild card, as Oliver refused to join Christie and Sweeney at a press conference Saturday announcing the compromise.
Oliver now says she supports the plan, which would allow towns to exceed the cap for pension and health insurance costs, debt payments and states of emergency.
The voting session is scheduled for 10 a.m.
