The New Jersey League of Municipalities and the New Jersey Conference of Mayors sent a joint letter to the Senate and Assembly Budget Committees urging the State Legislature to fully fund the Energy Tax Receipts Property Tax Relief Act in the SFY25 budget. While we appreciated the $150 million in Municipal Aid Relief that was included in the SFY24 budget, it is long past due to fully fund the Energy Tax Receipts.
The continued diversion of dedicated energy tax receipts to the state has jeopardized critical property tax relief funding. Municipalities have made difficult choices when funding was reduced and have been forced to reduce staff, cut or reduce services, and find other ways to keep budgets balanced. This much-needed funding can be used to support municipal budgets, providing funding for critical needs in our municipalities.
It is well past time for the diversion by state officials of this municipal funding intended for local property tax relief to end. Municipal governments currently are facing stark financial challenges and difficulties, including the dramatic hikes in healthcare premium costs for employees, huge pension increases, skyrocketing costs for solid waste and recycling collection and disposal, increased insurance costs, newly mandated state environmental costs, and much more—all driving costs that will ultimately be borne by property taxpayers without relief.
Please take action. If you have not done so already, please reach out to your State Senate and Assembly representatives urging funding in the SFY2025 budget to fully restore Energy Tax Receipts.
Contact(s): Mike Cerra, Executive Director, mcerra@njlm.org, 609-695-3481, x120 and Andrew LaFevre, Legislative Analyst, alafevre@njlm.org, 609-695-3481, x116.