TRENTON, N.J. – The Assembly passed a measure (A2972/S1298), sponsored by Assemblywoman Aura Dunn, that allows municipalities to include the amount saved through shared services on property tax bills. The bill now goes to the governor for his signature.
“The bill would allow fiscally responsible towns to show taxpayers how they are saving local tax dollars through shared services,” said Dunn (R-Morris). “Our residents pay the highest property taxes in the nation and deserve to see any savings they can get.”
The state has permitted shared services since the 1970s, which has led to hundreds of successful arrangements, according to Department of Community Affairs. The agreements reported to DCA since 2011 have resulted in savings totaling more than $28 million.
“Taxpayers would more easily be able to understand the efforts, or lack of efforts, that their elected officials have taken to reduce or control their tax burden,” said Dunn. “This bill provides taxpayers with some transparency. When they can see results that truly improve their daily lives, it transcends politics and gets us back to good governance.”
Under the legislation, towns can list the number and type of shared services entered into by the municipality, a breakdown of the amount saved from each of the shared services, and the total savings within tax statements.
The measure passed the Senate by a 37-0 vote in June.