As expected, Gov. Christie conditionally vetoed the Legislature's 2.9 percent property tax cap. A conditional veto means the Legislature doesn't have to start over with a new bill. This comes on the heels of an agreement reached over the weekend between Sen. Steve Sweeney and Christie for a 2 percent cap with more exceptions that Christie would have had in his proposed 2.5 percent property tax amendment.The Governor's Office said in announcing the veto that it adheres to "three critical principles necessary to drive down property taxes – significantly lowering the property tax cap, eliminating exceptions that make the cap irrelevant and giving the public a voice in deciding when – or if – to allow the cap to be exceeded."
“Now is the time to act, not hesitate. The stakes are too high for New Jersey families who are struggling to make ends meet and fighting to stay in their own homes to delay any longer in providing real, meaningful property tax relief,” Christie said.
