New Law Encourages Sprawl, Congestion and Higher Property Taxes
Senator Phil Haines, Assemblywoman Dawn Marie Addiego and Assemblyman Scott Rudder today questioned provisions of the recently enacted legislation to revise the State’s affordable housing laws that may impose a 2.5% tax on economic development project throughout the state; a tax that will ultimately be borne by middle class property tax payers.
“At a time when the State of New Jersey needs to support economic development projects designed to revitalize our older urban centers, the response from Trenton has been to pass a law imposing new taxes on new projects,” Assemblyman Rudder said. “Thanks to the COAH legislation, the State is adding millions to the price tag of projects throughout the state.”
“Whether it’s the New Jersey Motorsports Park in Millville, the expansion of Quakerbridge Mall in Lawrence or an electric generating plant in Atlantic County, desperately needed regional economic development projects need to be encouraged, not saddled with another tax,” said Assemblywoman Addiego. “Instead of talking about urban redevelopment and smart growth projects, maybe the politicians in Trenton should stop taxing them.”
“The COAH tax highlights the absurdity of assigning higher affordable housing obligations to our urban areas, while at the same time eliminating the tool of regional contribution agreements. These agreements could have helped to finance housing construction in areas where roads and other infrastructure already exist, and thereby stave off the destruction of our rural open spaces,” Senator Haines said.
Link to Post:
http://www.senatenj.com/index.php/district8/coah-law-discourages-economic-development/1094
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August 19, 2008 - Haines, Rudder & Addiego: COAH Killing Economic Development And Job Growth
August 6, 2008 - Bateman Introduces Legislation to Refurbish New Jersey’s Affordable Housing Law
October 17, 2008 - Leading Economist Testifies COAH Tax Will Hamper NJ Job Growth
October 21, 2008 - Sen. Sean Kean Sponsors Legislation to Revise Affordable Housing Laws
October 27, 2008
