Senator Phil Haines a member of the Senate Budget and Appropriations Committee issued the following statement regarding Governor Jon Corzine’s approval of legislation that will impose higher property taxes on middle-class New Jersey property taxpayers:
“This new law eliminates the ability of municipalities to control suburban ’sprawl’ by entering into regional contribution agreements (RCAs). This reckless mandate will undoubtedly raise property taxes on every municipality in the state in order to pay for the rising of tide of traffic, congestion and infrastructure costs being forced on them by misguided bureaucrats and legislators in Trenton.
“Burlington County will be hit especially hard. Communities in Legislative District 8 will be compelled to pay higher property taxes in order to construct as many as 4, 100 new units of affordable housing, while receiving little in the way of aid from Trenton in order to pay for them.
“In addition to eliminating RCAs, this bill imposes a new tax on commercial development that will strangle the creation of new job-producing ratables in municipalities throughout South Jersey. This will only accelerate the unprecedented six-year flight of jobs and investment from this state. This bill, which is estimated to cost $18 billion, will be a drag on our economy that will last well into the next decade.”
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November 17, 2008
