Press Release

KYRILLOS: PROPERTY TAX PLAN MAY HURT NEW JERSEY’S MUNICIPALITIES

Release Date: Apr 26 2007

 Property Tax Plan May Hurt New Jersey’s Municipalities

Senator Joe Kyrillos, (R-Monmouth/Middlesex), issued the following statement in response to media reports that Moody’s Investors Service believes the recently enacted property tax caps and credit program will cause fiscal problems for New Jersey’s 566 municipalities.


“The Moody’s report offers more evidence that last year’s property tax session was a failure and a missed opportunity to embrace real reform that would permanently lighten the property tax burden.             

New Jerseyans deserve more than what they’re getting from their leaders in Trenton.  The credit-cap act isn’t ‘landmark’ legislation but just more of the same from people who benefit from the status quo. 

The Majority needs to stop relying on 'press-release’ reforms that everyone sees through. We should take this report as a wake-up call and enact real change. It is imperative that we introduce a plan that actually produces lasting reform and proves Moody's wrong in their assertions.�

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Contact:

Courtney A. Fagan, 732-671-3206