Says It Will Encourage Shared Services to Lower Cost of Government
Legislation sponsored by Senator Anthony M. Bucco providing towns an opportunity to highlight their efforts to control property taxes through shared service agreements has been signed into law.
Legislation sponsored by Sen. Anthony M. Bucco providing towns an opportunity to highlight their efforts to control property taxes through shared service agreements has been signed into law. (Pixabay)
“New Jersey residents struggle to pay the nation’s highest property tax bills, and they want to know what’s being done to ease that burden,” said Bucco (R-25). “This new law provides towns with the opportunity to show directly on property tax bills how they are using shared service agreements to produce savings for taxpayers.”
The new law, S-1298, permits a municipality to include on the tax bill a statement listing the number and type of shared services entered into by the municipality, the dollar value of the savings to the municipality from each of those shared services, and a total amount of municipal savings resulting from those shared services.
The State has allowed shared services since the 1970s, resulting in hundreds of successful arrangements.
According to the Department of Community Affairs, reported agreements have resulted in cumulative savings totaling more than $28 million since 2011.
“With nearly 600 school districts and 565 municipalities in New Jersey, the savings achieved to date through shared services represent the tip of the iceberg of what’s possible,” added Bucco. “It’s my hope that this legislation will encourage local officials to do more to lower the cost of government and give property taxpayers a better handle on what’s being done on their behalf.”
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