Tax changes advance – a little bit

0 Comments | Philadelphia Inquirer, The, January, 2007 | by Elisa Ung and Jennifer Moroz

New Jersey's property-tax overhaul inched forward yesterday, with the Senate approving the creation of a panel to recommend town mergers, subject to voter approval, and a measure that requires public officials convicted of corruption to give up their pensions. But Senate Democrats were one vote short of approving another major bill that would create a state comptroller watchdog to root out waste in government.

Senate President Richard J. Codey predicted it would be approved Thursday. Lawmakers are still crafting the centerpiece of the effort: a politically popular 20 percent tax credit or rebate for most households, paired with an equally unpopular 4 percent cap on local tax increases. That legislation will likely be introduced Thursday and voted on next week. After mayors...