The bill would allow towns to exceed yearly spending caps on fuel costs, expenses related to trash collection and recycling and certain insurance costs.
State lawmakers are considering a bill that would allow New Jersey towns and cities to exceed a cap on spending for some items as they grapple with rising costs and dwindling federal aid — despite concerns such a move could spark higher property taxes in some places.
New Jersey state law requires that municipalities limit yearly spending increases to 2.5% or the federally determined cost-of-living adjustment, whichever is lower. This proposal would allow towns to exceed annual spending limits for fuel costs, expenses related to trash collection and recycling, and certain insurance costs.
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