Posted on: February 24, 2021
On Tuesday, February 23, Governor Murphy delivered the annual budget address. The Governor’s proposed $44.8 billion budget will guide the State’s spending through the next (FY 2022) fiscal year. While the full details of the Governor&a...
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Budgeting
Posted on: December 14, 2020
On Wednesday, the Local Finance Board approved the proposed Division of Local Government Services 2021 Calendar Year (CY) Budget extensions. The revised CY 2019 Budget deadlines follow:
Mayor/Council Faulkner Act (Executive) budget transmission to the gove...
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Budgeting
Posted on: October 16, 2020
On Monday, the Assembly State and Local Government Committee will hear A-2991. This legislation will clarify the telecommunications industry's corporate tax responsibilities, and shield local taxpayers from the costs of endless tax court litigation.&n...
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Budgeting
Posted on: September 21, 2020
An agreement has been reached by Governor Phil Murphy and Legislative leaders on an income tax rate hike (from 8.97% to 10.75%) on earnings in excess of $1 million. The higher rate currently applies to income over $5 million. Announcing the agreement, Gov...
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Budgeting
Posted on: September 14, 2020
The League of Municipalities’ position on the Governor’s proposed FY 21 budget has been presented by League President Jim Perry and League Executive Director Mike Cerra to the members of both the Senate Budget and Appropriation Committ...
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Budgeting
Posted on: September 11, 2020
Yesterday, both the Senate Budget and Appropriations Committee and the Assembly Budget Committee began their review of Governor Murphy’s proposed State Budget for FY ’21. That budget needs to be enacted by the end of this month, and it...
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Budgeting
Posted on: August 9, 2020
The Division of Local Government Services issued Local Finance Notice 2020-17 summarizing the Energy Tax Receipt and CMPTRA payment program for CY 2020 and SFY 2020 extension budgets. The Energy Tax Receipt and CMPTRA August 1 installment payment was 45% ...
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Budgeting
Posted on: July 6, 2020
On Monday, the Legislature passed and the Governor signed the Supplemental Appropriations bill that will permit state spending to bridge the gap between the usual end of the Fiscal Year, on June 30, and this year’s final day, September 30.
This b...
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Budgeting
Posted on: June 26, 2020
Because of the extension of the State’s current Fiscal Year for an additional three months, the Legislature must pass and the Governor sign a Supplemental Appropriations bill by midnight, June 30. On Thursday, June 24, Assemblywoman Eliana Pinto...
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Budgeting
Posted on: June 18, 2020
The League has launched the MunisAreEssential campaign in response to budget shortfalls local governments are experiencing due to the COVID-19 pandemic, and is encouraging local officials to contact their state and federal legislators to support ...
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Budgeting
Posted on: June 4, 2020
Could different contract provisions increase efficiency in your fire services? Is there a way to provide more effective policing, while lowering costs? And how much do your neighbors pay for police and fire protection? The answers to these questions can h...
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Budgeting
Posted on: May 29, 2020
Yesterday in Trenton, the Assembly Budget Committee heard testimony from the nonpartisan Office of Legislative Services’ Budget and Finance Officer, Frank Haines, and State Treasurer, Elizabeth Maher Muoio, regarding Governor Murphy’s ...
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Budgeting
Posted on: May 29, 2020
Yesterday Governor Murphy signed into law A-4157, which extends the statutory deadline to file a property tax appeal from May 1, 2020 to July 1, 2020 and provides the County Board of Taxation until September 30, 2020 to render a decision on a tax...
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Budgeting
Posted on: May 18, 2020
On Thursday the Assembly passed by a vote of 57-20 A-3971 which authorizes the issuance of “coronavirus relief bonds” by municipalities and counties. Specifically, A-3971 permits municipalities to issue bonds for the loss of revenue an...
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Budgeting
Posted on: May 8, 2020
Yesterday the Senate Budget Committee released S-2387, which extends the statutory deadline to file a property tax appeal from May 1 to July 1 and provides the County Board of Taxation until September 30 to render a decision on a tax appeal. The deadline ...
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Budgeting
Posted on: April 28, 2020
Governor Murphy has issued Executive Order 130, which permits a governing body to adopt a resolution extending the grace period for the May 1 property tax payment. The grace period cannot go later than June 1, 2020. A copy of the resolution must be filed ...
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Budgeting
Posted on: April 27, 2020
For the past several weeks we have been receiving numerous inquiries regarding the upcoming 2nd Quarter Property Tax payment. To date, there has been no administrative or legislative action to extend the May 1 property tax payment date. We have issued an ...
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Budgeting
Posted on: April 24, 2020
The Division of Pensions and Benefits sent a reminder notice to all Certifying Officers reminding them that the annual pension contribution grace period for payment for both Public Employee’s Retirement System (PERS) and Police & Fire Retire...
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Budgeting
Posted on: April 17, 2020
Yesterday, your League Officers – President Jim Perry, Committeeman, Hardwick; First Vice President Janice Kovach, Mayor, Clinton; Second Vice President Bill Chegwidden, Mayor, Wharton; and Third Vice President Sue Howard, Mayor, Monmouth Beach ...
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Budgeting
Posted on: April 15, 2020
As we approach the May 1 property tax deadline, we would like to advise you of options currently available to you to assist property owners facing fiscal challenges.
N.J.S.A. 54:4-67 permits municipal governing bodies to establish the rate of int...
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Budgeting