(To read more on the debt and equity markets, click here.)

ISELIN, NJ-New Jersey's state constitution will probably be changed, said Assemblyman John Burzichelli (D-Gloucester). Eliminating the uniformity clause requires such a constitutional change, and currently keeps businesses and residential homes taxed similarly.

Changing the uniformity clause would allow more of the tax burden to be put on commercial property owners and their tenants. It requires a change to the state constitution, which has not been done since 1947.

Burzichelli discussed the state government plans at a NJ-NAIOP meeting this week, titled New Jersey's Economic Growth Challenges. Burzichelli is aware of the CRE industry's opposition to the change, but there are only so many ways to balance the budget."It's hard to get government to stop spending," Burzichelli says. "Everybody thinks the waste is somewhere else."

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