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July 31, 2009

Re: Actions Relative to Loss of Business Personal Property Tax Revenue

Dear Mayor,

We have received several requests for advice for municipalities that want to take action with regard to diminishing Business Personal Property Tax revenue.  See our letter of July 28 for a full explanation of why this revenue source is shrinking and the League’s current actions.

Municipalities should consider some or all of the following suggestions.

Contact your administration staff, CFO and assessor to learn the impact of losing your business personal property tax revenue (PT-10 form).

Contact your state legislative delegation and let them know the impact of your municipality losing this revenue during this critically difficult economic period. (You can find contact information for your delegation on the Legislature’s website at http://www.njleg.state.nj.us/districts/municipalities.asp.)

Pass the enclosed sample resolution and send it to your delegation with the sample letter.

Copy the League on your correspondence.

Attend the League Annual Business Meeting Friday November 20, 2009 at the Atlantic City Sheraton to express your support for a League resolution Requesting the Legislature to Restructure and Bring Fairness to Tax and Franchise Fees Imposed on Telecommunications and Cable Telecommunications Service Providers in New Jersey.

If you or your staff have questions about this please contact Jon Moran ext. 121 or Michael Darcy ext. 116, at the League office.

 

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