Freeholder Candidates say Tax Relief will come from more DevelopmentI read this headline in today’s Atlantic City Press and just was stunned. Have they not learned ANYTHING from what has happened to the rest of the state?????
This part of the article says it very well!!
"The county budget has nearly doubled in the past four years, rising to more than $80 million after bipartisan budget votes by freeholders. During that time, county coffers ran flush as increased commercial development brought in new tax dollars. However, most municipalities didn't necessarily see financial relief in actual tax dollars during that time. With property values rising, equalization ratios used to determine towns' county tax rates dropped. The result has been that, despite the slow drop of the county apportionment rate, county taxes have risen nearly every year".
Have these folks ever hear of the "ratables chase"
If not here is former Governer Christie Todd Whitman to tell you.
"The ratables chase is the propensity of some local governments to pursue additional property tax revenue through land development, or the addition of tax ratables. Unfortunately, without proper planning these actions frequently result in the addition of services required to support this development which cost more than the revenue generated. The end result is less open space and higher property taxes for the entire community."
I hope the candidates can come up with more holistic and comprehensive solution or our children will have to live in sprawl and higher taxes
