“Because we prioritized long-term fiscal stability and acted to fix these broken systems, taxpayers and local governments are now seeing immediate savings this year. Municipalities, counties, school districts and all local governments will now have these savings to fund critical services, keep teachers in the classroom, and provide property tax relief,” Governor Chris Christie said. “By focusing on the big issues facing our state and daring to touch the third rail of politics, we are making huge strides in easing the property tax burden on our people and making our state affordable again. The results for local government and overtaxed families will be immediate and lasting.”
The Governor’s comprehensive set of reforms means critical savings for state and local governments and real property tax relief for New Jerseyans.
Beginning this year, New Jersey’s taxpayers will enjoy these substantial savings over the next three decades because of the Governor’s historic campaign to reverse two decades of neglect of the state’s pension funds.
A savings breakdown of Fiscal Year 2012 pension cost savings for each local government in New Jersey – municipalities, counties, school districts and other local government units – can be accessed at the Department of Treasury’s website here: http://www.state.nj.us/treasury/pensions/epbam/exhibits/pdf/2012-pers-comparison-revised-78.pdf