“Congratulations to New Jersey’s long suffering taxpayers. Thanks to an effective, bipartisan effort between the state’s governor, Assembly and Senate, New Jersey home owners will now benefit from a welcome and much needed two percent cap on their property taxes with limited exceptions that puts final authority to exceed the cap in the hands of the taxpayers themselves. The new cap, which will be signed into law today by Republican Governor Chris Christie, passed the Democratic Legislature overwhelmingly, with a 73-4 vote in the Assembly yesterday, and by a 35-3 margin in the Senate last week.

“Passage of the tax cap was fair, fiscally responsible, and in the best interest of New Jersey families. Unfortunately, we New Yorkers are still waiting and suffering needlessly. Whereas New Jersey’s elected officials have found a way to put aside partisan sniping and election-year opportunism for the greater good of their state, New York officials have yet to come together to bring relief to our own constituents — this despite the fact that three out of four New Yorkers support a property tax cap.

“Our elected officials in Albany need to take a similar stand against runaway property taxes, and I am calling on the leaders of the Senate and Assembly to commit to taking an up or down vote on a property tax cap before the November elections. Every legislator in Albany should publicly state where he or she stands on this critical issue so that voters know who supports property tax reform. Increased State spending is not property tax relief, no matter how Albany politicians spin it during an election year. Spending increases lead to higher property taxes, which is why I vetoed $600 million in Legislative additions to the State’s education budget.

“I want to commend New Jersey’s Governor Christie, Senate President Steve Sweeney, Minority Leader Tom Kean, Assembly Speaker Sheila Oliver and Minority Leader Alex DeCroce for putting their political differences aside to bring real property tax relief to New Jersey families.

“Now it is time for a similar agreement in New York, where families have waited long enough for property tax relief. And if Albany fails to deliver once again, those New Yorkers may be forced to look to two of our neighbors now – New Jersey and Massachusetts – to find the property tax relief they deserve here.”