This sounds good but my best guess is that it is just another cruel hoax perpetrated on New Jersey taxpayers. New Jersey has long ago passed a tipping point where taxtakers are much more politically powerful than taxpayers.
North Jersey homeowners will still get a promised property tax credit this year, but there is a new hitch: Lawmakers must also approve a plan that would force towns to limit their local spending.
Governor Corzine and leaders of the Democratic-controlled Legislature announced the arrangement Wednesday as part of package of measures they say will get the now-stalled property tax reform effort moving.
Wednesday's agreement essentially ties the fate of the promised credit to a plan that caps local tax rates. Many politically powerful groups -- including the public school teachers union, local officials and municipal workers -- have opposed such caps because they essentially limit spending.