Re: Sweeney proposes slapping payroll tax on Jersey City businesses to fund schools
Posted by Ralph_Abutts on 2018/6/5 12:15:09
Gov Christie decreased the municipal appropriations budget cap to 2.5%. and a 2% tax levy cap. There are similar limits for county government and the amount of outstanding debt.
There's some limited exceptions/wiggle-room to the spending/tax cap for COLA and cap banking up to 3 years.
Before Christie, IIRC, it was McGreevy @ 4%, then 7% prior, etc. with the caps were first enacted in 1977.
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