Revises calculation of maximum allowable annual increase to county tax levy.

This bill revises New Jersey's rules for how much counties can increase their annual tax levies. It sets a new limit of 2.5% or the cost-of-living adjustment (whichever is lower) on county tax increases, applying to all counties and their constituent municipalities. Exceptions allow counties to exceed this limit for specific needs like capital projects (e.g., building roads), debt payments, emergencies (like natural disasters), or federal/state matching funds. The change clarifies existing rules to prevent counties from exceeding the cap except for these legally defined purposes.