On Monday, Oliver called the property-tax legislation "imperfect."
"Without question, we will have to take legislative measures to perfect this bill," Oliver said. "There are certain holes in the bill, but I think what you heard was the consensus that people in New Jersey are confronted with property taxes that are among the highest in the nation in the middle of a recession and at least people can now have some predictability."
Democrats in the Assembly expressed concerns that certain factors that towns and schools cannot control, such as special education costs and cuts to state aid, were not included among the exemptions to the cap.
Oliver said Christie "has expressed to me that his mind is open, he will give all due consideration" to requests to tweak the law.
Republicans praised the bipartisan support for the bill and Assemblyman Jon Bramnick (R., Union) said it was "clearly a historic day."
"It sends a message that the legislators are finally doing what we were sent here to do," Bramnick said.
The Assembly approved the bill, 73-4, after about 40 minutes of speeches.
The bill is an attempt to control New Jersey's rising property taxes, which average $7,300 a household.
Current law caps property-tax increases at 4 percent, with several exemptions. Christie has ridiculed the current cap as riddled with so many holes it is like Swiss cheese, although Democrats argue it has cut property tax increases from 7.0 percent in 2006 to 3.3 percent.
Christie, a Republican, originally proposed a constitutional amendment, which would require voter approval, to cap property taxes at 2.5 percent, with an exemption for debt service. Under his original plan, voters could have overridden the cap with a 60 percent majority.
