Reckless Democrat Housing Law Will Cost Property Taxpayers $20 Million!
Senator Sean T. Kean (R-Monmouth) reacted today to media reports that the new affordable housing legislation could add as much as $20 million in higher property taxes on the residents of Wall Township, Monmouth County.
“I am deeply concerned by a media report that Wall Township faces a $20 million property tax increase due to the new COAH legislation passed this spring, ” said Kean. “Wall Township’s taxpayers already lost a combined $176,000 in municipal and school aid in the state budget. Now the new COAH law will saddle them with skyrocketing property tax bills, greater traffic congestion, less open space and more crowded schools.”
According to a media report in August 1st edition of the Asbury Park Press, municipal officials have calculated that in order for Wall Township to meet its obligation to construct 667 new affordable housing units, township taxpayers will need to pay as much as $20 million in higher property taxes in order to provide subsidies to builders, or permit the construction of thousands of market-rate units of housing, placing a “huge strain” on the township’s infrastructure and school system. “Residents who sit in traffic jams on Route 35 or watch their property taxes rise as their homestead rebate checks get cut, know that the construction of thousands of new subsidized housing units will only make things worse in Wall Township,” said Kean.
“The expensive and complex system of COAH taxes and regulations, intended to help create affordable housing are quickly obliterating the ability of middle class families to remain secure in their homes,” Kean concluded. “I agree with former Governor Byrne’s statement that ‘I’m beginning to think that we ought to rethink our housing problem and our mandates for low-income housing everywhere. Because it’s nice to have communities which have a little bit of difference to them.’”
Link to Post:
http://www.senatenj.com/index.php/seankean/coah-victim-of-the-week-wall-township/828
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