Christie Warns Residents of Post-Storm Tax Hikes

Gov. Chris Christie warns residents in storm-damaged towns that their property taxes are likely to rise.

One of the exemptions in the state's 2 percent tax cap law is emergencies like Superstorm Sandy.

Christie says towns can maximize their federal reimbursement for storm cleanup costs by contracting with a state-approved firm.

But he says storm-related costs that aren't reimbursed by FEMA will likely be passed along to taxpayers.

The governor says residents in hard-hit towns will help rebuild their towns by paying higher taxes.

(Copyright 2012 by The Associated Press. All Rights Reserved.)