News Flash Home
The original item was published from 2/24/2022 2:00:48 PM to 2/25/2023 12:00:06 AM.

News Flash

Budgeting

Posted on: February 24, 2022

[ARCHIVED] Act Now: Impact of Diversion of Energy Tax Receipts

As the State begins to consider its FY 22-23 budget, it is critical for municipalities to advocate for S-330, which will increase distribution to municipalities from the Energy Tax Receipts Property Tax Relief Fund over five years, restore municipal aid reductions, and require the additional aid to be subtracted from the municipal property tax levy. Since 2002, $14 billion in funds have been diverted from municipalities to the State’s general fund.
  
To see how much revenue has been diverted from your municipalities, please use the 2021 ETR Impact Calculation individual sheet. Simply insert the annual amount of aid 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.
  
If you have not done so already, please consider adopting the sample resolution calling for the swift passage and signing of S-330. The time has come to restore to local budgets the millions in property tax relief that have been annually diverted to meet State needs. 
 
Contact: Lori Buckelew, Deputy Executive Director, lbuckelew@njslom.org, 609-695-3481, ext. 112.

Facebook Twitter Email

Other News in Budgeting

Governor Delivers State FY 2025 Budget

Posted on: February 27, 2024

Bills of Interest Signed by Governor

Posted on: January 19, 2024

Division Issues Guidance on CY 2024 Budget

Posted on: December 21, 2023

DCA Budget Breakdown

Posted on: May 5, 2023