Legislators Release Property Tax Reform Recommendations

The four joint legislative committees that have been studying ways to reduce New Jersey’s highest-in-the-nation property taxes released 98 specific recommendations for reform on November 15. The one receiving the most attention would reduce the property tax bill of a majority of homeowners by 20 percent in the first year. In total, the recommendations appear to have the potential to increase efficiencies and reduce costs.

New Jersey Business & Industry Association (www.njbia.com).