New Survey: Jersey’s 2 Percent Property Tax Cap is Working

The latest New Jersey League of Municipalities Legislative Priority Survey finds most Mayors believe the state’s new 2 percent property tax cap is doing what it’s supposed to - hold the line on property taxes.

In the survey, 29 percent of Mayors indicated their town’s final tax levy increased 2 percent this year– with exclusions for debt services, capital expenditures, pension and health benefit costs and emergencies.

In addition, 19.3 percent of Mayors reports property tax increases between 1.5 and 1.99 percent, and 18 percent said their tax increase was under 1 percent.

When asked what actions they took to control costs, the Mayors said they did a number of things, including sharing services, using a higher percentage of surpluses, deferring Capital improvements and increasing fees.

Bill Dressel, the Executive Director of the League, says the last thing Mayors want to do “is increase property taxes and reduce public services…we’re seeing everything is on the table…really, they’re walking a tightrope."

This is the 13^th year the League has conducted a Mayor’s survey. About a hundred Mayors from across the Garden state responded.