TRENTON, N.J. – Municipalities will now be able to include the amount saved through shared services on property tax bills under a new measure (A2972/S1298) signed into law this week and sponsored by Assemblywoman Aura Dunn and Assemblyman Parker Space.
“This law 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,” said Dunn (R-Morris).
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 deserve to know how their elected officials are using their money,” said Space (R-Sussex). “With the nation’s highest property taxes, our towns need to do a better job at finding savings and when they do, they should be able to show residents how they are benefitting.”
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.
Assemblyman Hal Wirths (R-Sussex) cosponsored the legislation.