February 23, 2011
RE: Property Tax Relief Funding Certifications and Other Budget Info Posted
The Division of Local Government Services has posted municipal property tax relief (so-called, “State Aid”) certifications on its website, along with other important budget information. The Division should also soon be distributing a Local Finance Notice Number 2011-8, which will include this information. Visit their website at: http://www.state.nj.us/dca/lgs/ and see the links under “Hot Topics.”
The Local Finance Notice also states:
The budget proposal continues the Best Practice Inventive program to encourage municipal officials to adopt a range of “best practices” as an incentive to receive a full payment of Consolidated Municipal Property Tax Relief Aid (CMPTRA) and Energy Tax Receipts (ETR) State aid. In order to receive the final five percent payment, a municipality will have to certify that it meets a variety of best administrative, financial management, or operational practices. The budget proposes that withheld funds be reallocated as rewards to municipalities that establish exceptional scores. Additional Best Practices information will be released in the next few weeks.
We will keep you posted of any further developments.
Very truly yours,
William G. Dressel, Jr.