Unstoppable Chris Christie does it again, capping property taxes

New Jersey Gov. Chris Christie (R) scored another in a series of major political victories, signing a bill capping the growth of property taxes and municipal spending at 2% annually. The bill replaces the Garden State’s previous cap, at 4%, which the governor assailed as ineffectual due to 14 exemptions that allowed local governments to virtually ignore the law. The new cap, which Christie pushed the Democratic-controlled legislature to enact, requires municipal councils to get approval from the voters before going over the lower limit.

The bill is the result of a compromise between Christie and Senate President Steve Sweeney (D-Camden). Christie had proposed a 2.5% cap as part of a package of 33 bills, which he dubbed a “toolkit” for local government to get skyrocketing spending and property taxes under control. Christie’s proposal would have amended the state constitution to include the 2.5% limit and mandated the approval of a supermajority of 60% of voters for a local council to exceed the cap, with debt service as the lone exception.