City of Elizabeth $20 Annual Rent Cap Question
What does this measure do?
Supports: Housing Affordability
Elizabeth would limit each yearly increase in rent-controlled homes to the smaller of 3% or $20 in monthly rent. Renters in those homes would pay no more than that added amount each month; city taxes would not change.
Proposed by: Citizen petition by the Freelizabeth campaign of the North Jersey Democratic Socialists of America
Tenant organizers from the North Jersey Democratic Socialists of America, a left-wing political group. They want the old $20 cap on yearly rent increases back and say the city caved to big landlords.
Source: jerseyvindicator.org
A YES vote means
Restore the $20 ceiling on each yearly increase in monthly rent, alongside the 3% cap. Renters in covered homes would pay the smaller increase; city taxes would not change.
A NO vote means
Keep the current 3% limit without the $20 ceiling. Renters in covered homes could face yearly increases in monthly rent above $20 when 3% is higher.
Source: elizabethnj.org