Assembly Panels Approve Pair of Webber Property Tax Relief Bills

WASHINGTON, D.C. – (RealEstateRama) — A pair of bills targeting New Jersey’s property tax crisis, sponsored by Assemblyman Jay Webber, advanced from Assembly committees today. A-312 mandates the publishing of comprehensive property tax data on the Division of Local Government Services website, and A-302 provides direct relief for property taxpayers from energy tax receipts.

“Property taxes in this state have been the highest in the nation for too long. They affect everyone in every phase of life, from families with kids, to seniors in retirement, to young people just starting out and trying to buy a home,” said Webber (R-Morris, Essex, Passaic). “Reining in property taxes must be our number one priority, and today we are making progress on solving the problem.”

The Assembly State and Local Government Committee passed Webber’s bill (A312) shining a spotlight on the state’s untenable property tax burdens. The bill requires the publication of a summary of property tax data for the current year and the 10 preceding calendar years; details about the property tax levy for the previous year in every county, municipality, school district and fire district; and the average residential property tax bill for each municipality in New Jersey.

“This bill is about transparency and accountability,” said Webber. “People know their property taxes are too high, but this information, published for public consumption on the internet, lets them understand how their towns stack up against their neighbors’, and makes it easier for them to hold accountable their elected officials and demand smaller, more affordable government.”

Webber’s second bill, A-302, provides direct relief to property taxpayers and was approved by the Assembly Appropriations Committee. The measure increases money to municipalities from the energy tax receipts program, and prevents towns from simply spending those monies by requiring them to subtract the additional aid from its adjusted tax levy. The result is a direct reduction in the property taxes. Phased in over a five-year period, the bill results in more than $330 million in property tax relief.

“This bill actually does something Trenton hasn’t done in years: it directly cuts property taxes. We have much more to do to attack the property tax problem in our State,” said Webber. “But today, we are taking two steps in the right direction.”

Assemblyman Webber’s extended comments about A-302, appearing in an opinion piece, are available here: http://www.app.com/story/opinion/columnists/2016/02/05/nj-energy-receipts-tax/79873508/

A detail of estimated tax relief per municipality is attached.

A-302 Implementation

 

Year 1: $67,425,727-(20%)

Year 2: $134,851,453-(40%)

Year 3: $202,277,180-(60%)

Year 4: $269,702,906-(80%)

Year 5: $337,128,633-(100%)

 

Data specific to municipalities in Legislative District 26:

 

Municipality FY17 +20% FY18 +40% FY19 +60% FY20 +80% FY21 +100%
Essex County
Fairfield Borough

$100,918

$201,837

$302,755

$403,674

$504,592

North Caldwell Borough

$38,335

$76,670

$115,004

$153,339

$191,674

Verona Township

$69,525

$139,050

$208,574

$278,099

$347,624

West Caldwell Township

$86,672

$173,344

$260,016

$346,688

$433,360

Morris County
Butler Borough

$67,332

$134,665

$201,997

$269,330

$336,662

Jefferson Township

$109,004

$218,008

$327,012

$436,016

$545,020

Kinnelon Borough

$47,425

$94,850

$142,274

$189,699

$237,124

Lincoln Park Borough

$52,910

$105,821

$158,731

$211,642

$264,552

Montville Township

$135,127

$270,254

$405,380

$540,507

$675,634

Morris Plains Borough

$52,599

$105,197

$157,796

$210,394

$262,993

Parsippany-Troy Hills Township

$270,981

$541,781

$812,672

$1,083,562

$1,354,453

Rockaway Township

$90,941

$181,883

$272,824

$363,766

$454,707

Passaic County
West Milford Township

$137,678

$275,357

$413,035

$550,714

$688,392

Total

$1,259,447

$2,518,667

$3,778,070

$5,037,430

$6,296,787

 

Data specific to Morris, Essex, and Passaic counties:

 

County FY17 +20% FY18 +40% FY19 +60% FY20 +80% FY21 +100%
Essex County $7,679,576 $15,359,152 $23,038,728 $30,718,304 $38,397,880
Morris County $3,020,244 $6,040,488 $9,060,731 $12,080,975 $15,101,219
Passaic County $3,438,636 $6,877,272 $10,315,907 $13,754,543 $17,193,179
 
Total $14,138,456 $28,276,912 $42,415,366 $56,553,822 $70,692,278
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