Energy Tax Receipts Tax Relief Fund Restoration Update
Earlier this week, the League of Municipalities and the New Jersey Conference of Mayors sent a joint letter to Assemblyman Verrelli, Chair of the Assembly State and Local Government Committee, respectfully requesting that S-330 be re-assigned to the Assembly State and Local Government Committee and S-330 and A-3804 be posted for a hearing in a timely manner.
A-3804/S-330, which would restore distributions to municipalities from the Energy Tax Receipts Property Tax Municipal Distribution Program (ETR) over two years and require additional funding to be subtracted from the municipal property tax levy, is the first major step in addressing property tax affordability.
The League has long advocated the restoration of this funding. With news that the State’s fiscal picture is remarkably strong and expected revenue far exceeds projections, now is the time to restore Energy Tax Receipts. We suggest you to reach out to your Assembly representatives urging them to support A-3804. And if you have not done so already, please consider adopting the sample resolution calling for the swift passage and signing of S-330. Also, please use the 2021 ETR Impact Calculation individual sheet. Simply insert the annual amount of ETR funding your municipality received and the sheet will update to reflect the shortfall over time. We suggest you share this information with your residents, Assembly and Senate representatives, and Governor.
The time has come to restore to local budgets the millions in property tax relief that have been annually diverted to meet State needs.
· Mike Cerra, Executive Director, email@example.com, 609-695-3481, x120.
· Lori Buckelew, Deputy Executive Director & Director of Government Affairs, firstname.lastname@example.org, 609-695-3481, x112.