New Jersey Says No to Increased Property Taxes

Business Week:

The New Jersey Assembly will likely pass an annual limit on property-tax increases announced by Senate Democrats and Governor Chris Christie, lawmakers said.

Assembly Budget Committee Chairman Louis Greenwald, a Democrat from Cherry Hill, said his panel will debate the tax cap today and may vote on it in coming days. The full Senate is expected to approve the measure tomorrow.

“We will have the votes but there are people who feel this is not yet finished, myself included,” Greenwald, a Democrat from Cherry Hill, said in an interview. “Our goal is to move forward with this as expeditiously as possible.”

Christie, a Republican who took office Jan. 19, and the Democrat-led Legislature announced an agreement July 3 on the plan to rein in the state’s property taxes, which are the highest in the U.S. at an average of $7,281 in 2009, up 72 percent since 1999.

It is sort of sad when they have to impose limits on their own behavior like that, scared to death that they and their colleagues will be entirely unable to resist looting the state taxpayer.

The Curious Capitalist has some interesting info on what taxes look like around the country starting with $11 cigarettes in New York.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.