Sweeney: Interest Arbitration Will Pass Senate

Monmouth County Freeholder Serena DiMaso, Keansburg Deputy Mayor Jimmy Cocuzza, Congressman Frank Pallone and Senate President Steve Sweeney talk before Sweeney's Town Hall Meeting in Keansburg. Pallone was not impressed.

Monmouth County Freeholder Serena DiMaso, Keansburg Deputy Mayor Jimmy Cocuzza, Congressman Frank Pallone and Senate President Steve Sweeney talk before Sweeney’s Town Hall Meeting in Keansburg. Pallone was not impressed. Click for larger view.

Senate President Steve Sweeney told MMM today that he expects a key provision of New Jersey’s 2%  property tax cap that is set to expire on April 1 to be extended.

The interest arbitration provision of the property tax reforms passed with bi-partisan support three years ago caps arbitration awards in government labor disputes to 2%. Since they’ve been implemented the average arbitration award resulted in salary increases for local government employees to 1.86%–the lowest in 20 years. The provision will expire on April 1 unless extended by legislation.

“It’s my bill,” Sweeney said, “I’ll pass it next week.”   Ask if the arbitration cap would become permanent or extended with another sunset provision, Sweeney said, “That’s what we’re working on now.  I’d just assume we done with it, but we’ll get the best we can.”

Sweeney said that while negotiating the original property tax reforms that he favored a 0% cap. “That would force municipalities to, if not consolidate, to share, to share services.”

Sweeney spoke to MMM after his sparsely attended Town Hall Meeting at the Bayshore Senior Day Center in Keansburg this afternoon.

 

Posted: March 20th, 2014 | Author: | Filed under: NJ State Legislature, Property Tax Tool Kit, Property Taxes, Stephen Sweeney | Tags: , , , , , , | 2 Comments »

2 Comments on “Sweeney: Interest Arbitration Will Pass Senate”

  1. Rhoda Chodosh said at 6:41 pm on March 20th, 2014:

    This bi-partisan cap for tax reform needs to be permanent. It’s saved taxpayers thousands of dollars since Jan. 2011. Let’s hope Senator Sweeney gets this done for New Jerseyans, especially the ones hurting from loss revenue from SS Sandy.

  2. MoreMonmouthMusings » Blog Archive » The Dismantling Of Christie’s “Bi-partisan” Reforms said at 1:31 pm on March 28th, 2014:

    […] the Senate bill and because of Senate President Steve Sweeney’s comments about the cap at his Town Hall Meeting in Keansburg last week.  It turns out that was wishful thinking. MMM has learned the bills are identical and, […]