TRENTON - Governor Jon S. Corzine today released a video message to the people New Jersey detailing his request that the legislature allow local governments to defer 50 percent of their current pension contributions in order to avoid double digit property tax increases that some local governments have already planned.

The deferral will ease local governments budget by approximately $540 million during this time of economic crisis. The governor made clear that any savings from this deferral must be used to stave off property tax increases and that the long term health of the pension fund is sound.

The video is available on the governor’s website at:

http://www.state.nj.us/governor/news/photos/2008/200811.shtml

Or on YouTube at:

http://www.youtube.com/watch?v=_5jzvD4tWyo

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Photos from Governor Corzine's public events are available in the Governor's Newsroom section on the State of New Jersey web page, http://www.nj.gov/governor/news/