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July 7, 2010

The average property tax bill would have been $2,114 less than today's $7,281 if a hard 2 percent cap on tax hikes had been instituted in 2001, according to a statement by the New Jersey Governor’s office that was released Tuesday. The statement was issued along with Gov. Chris Christie’s conditional veto of Senate Bill No. 29, which called for a 2.9 percent cap on new property taxes and limits the number of exceptions to 10. The legislature is scheduled to revisit the issue with a vote tomorrow.

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