N.J. League of Municipalities’ study says state cut $271M destined for property tax relief

TRENTON – A paper by the New Jersey League of Municipalities makes the case that the state, including both Gov. Chris Christie and the Legislature, cut some $271 million in state aid this year that would have gone toward property tax relief.

Property tax relief comes in the form of two long-time programs – the Energy Tax Receipts Property Tax Relief Program and the Consolidated Municpal Property Tax Relief Act Program, or COMPTRA, the League reported.

The paper states that over a 10-year period, the state has diverted a total of $3.4 billion from those accounts to close budget gaps.

It states that the money for property tax relief was to go into funds dedicated for that purpose.

The policy paper can be accessed by clinking the link at the website located at https://nyoobserver.files.wordpress.com/2011/09/energy-tax-paper1.pdf

During the budget committee hearings in March, league President Chuck Chiarello stressed the importance of not diverting property tax relief funds.

“Giving municipal property taxpayers all the relief they have coming to them needs to be a part of the ‘new normal,” he said.

N.J. League of Municipalities’ study says state cut $271M destined for property tax relief