|March 3, 2008
Funding Cut Updates
We understand that the Division of Local Government Services is hard at work on a Local Finance Notice for calendar year budget municipalities and on determining preliminary funding numbers, pursuant to the Governor’s recently proposed budget. As soon as the Division completes this work, which could be later today, the Notice and funding numbers will be e-mailed to key local appointees and others on the appropriate e-mail lists. They will also be posted on the Division’s website at: http://www.state.nj.us/dca/lgs/.
With the prospect of massive municipal property tax relief funding cuts, from various sources, looming, the League is planning a series of briefings on different aspects of the crisis.
We have already forwarded notice on the first briefing, which will focus on those approximately 300 communities with populations under 10,000 that face severe cuts in Consolidated Municipal Property Tax Relief Act (CMPTRA) funding. The aggregate cuts for these municipalities will be around $37 million. League
WE ARE CURRENTLY ARRANGING FOR KEY ADMINISTRATION OFFICIALS TO ATTEND OUR SECOND BRIEFING, WHICH WILL FOCUS ON THE IMPACT OF THE PROPOSED CUTS ON MUNICIPALITIES WITH MORE THAN 10,000 RESIDENTS. Once details are finalized, we will invite Mayors, governing body members and key appointed officers of the approximately 250 more populous municipalities, adversely affected by the under-funding or elimination of key municipal property tax relief programs.
Very truly yours,
William G. Dressel, Jr.