Your Immediate action is needed to advocate for full funding of the Energy Tax Receipts Property Tax Relief Act in the SFY25 budget.
As budget negotiations are ongoing to complete the Fiscal Year 2025 state budget by the June 30 deadline, your Senator and Assemblymembers need to hear directly from municipal elected officials that full funding of the Energy Tax Receipts Property Tax Relief Act in the SFY25 budget is critical to municipal fiscal health.
As we noted last week, the New Jersey League of Municipalities and the New Jersey Conference of Mayors sent a joint letter to the Senate and Assembly Budget Committees urging the State Legislature to fully fund the Energy Tax Receipts Property Tax Relief Act in the SFY25 budget.
While we appreciate, and strongly advocated for, the $150 million in Municipal Aid Relief that was included in the SFY24 budget, it is long past due to fully fund the Energy Tax Receipts as these are municipal funds that are being utilized by the State at the expense of municipal budgets intended for local property tax relief.
The continued diversion of dedicated energy tax receipts to the State has jeopardized critical property tax relief funding. Municipalities have made difficult choices when funding was reduced and have been forced to reduce staff, cut or reduce services, and find other ways to keep budgets balanced. This much-needed funding can be used to support municipal budgets, providing funding for critical needs in our municipalities.
Please take immediate action. If you have not done so already, please reach out to your State Senate and Assembly representatives urging funding in the SFY2025 budget to fully restore Energy Tax Receipts.
Contact(s): Mike Cerra, Executive Director, mcerra@njlm.org, 609-695-3481, x120 and Andrew LaFevre, Legislative Analyst, alafevre@njlm.org, 609-695-3481, x116.