From the Herald/Record:
Business leaders just got help in their effort to stop a property tax reform proposal that could further burden private employers.
Sen. Leonard Lance, R-Hunterdon, said he opposes changing the state constitution so that municipalities can tax business properties at a higher rate than residences.
The constitution requires all properties to be taxed at the same rate. A six-member legislative committee is studying whether that should be changed so businesses can be taxed more.Lance, the third committee member to publicly oppose the idea, said it may drive companies away from the state.
“Making New Jersey more inhospitable to business investment will only aggravate our property tax crisis,” he said.
Even though half the committee opposes the idea, it is far from dead. Another opponent, Assemblyman Louis Manzo, D-Jersey City, said legislators’ positions may shift before the committee’s final report is released in November.
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