Task force study on arbitration reform confirms law works – and is essential
Following up on his comments last week that allowing the interest arbitration law to expire on April 1st would have disastrous consequences on towns and property taxpayers, Assemblyman Declan O’Scanlon will introduce legislation on Thursday that would make the law permanent.
From January 2011, when the law took effect, to September 2013, average raises in contracts, whether through arbitration or negotiations, were 1.86 percent — the lowest in at least 20 years. O’Scanlon was a member of the task force charged with studying the effects of the law since its inception and said there is no doubt the cap has been the single most significant tool responsible for the stabilization of municipal budgets.
“The data contained in the task force report is irrefutable that the interest arbitration law works and is an essential element in helping towns control costs,” said O’Scanlon, R-Monmouth. “The cap on arbitration awards was a critical part of our 2010 reforms and was the most important tool ever enacted to bring under control the never-ending, upward pressure on property taxes and the gradual strangling of local government services. One simply cannot logically argue that we can maintain a cap on property taxes without providing this tool for municipal officials to control their largest expense categories.
Copyright 2014 MoreMonmouthMusings Posted: March 19th, 2014 | Author: admin | Filed under: Declan O'Scanlon, Press Release, Property Tax Tool Kit, Property Taxes | Tags: Declan O'Scanlon, interest arbitration, Interest Arbitration Cap, Interest Arbitration Task Force, NJ State Legislation, Press Release | 1 Comment »