New Jersey 2022-2023 Regular Session

New Jersey Assembly Bill A438

Introduced
1/11/22  

Caption

Requires DCA to provide certain long term tax exemption information on website.

Impact

If enacted, Assembly Bill A438 will significantly impact how municipalities report and manage long-term tax exemptions. By making this information publicly accessible, it aligns with a growing trend towards governmental transparency and accountability. Residents and local stakeholders will be able to access crucial fiscal data that affects their communities, fostering informed public discourse and participation in local governance. This legislation helps ensure taxpayers are aware of the fiscal implications of exemptions that may otherwise lack visibility.

Summary

Assembly Bill A438 aims to enhance transparency regarding long-term property tax exemptions in New Jersey. The bill requires the Director of the Division of Local Government Services in the Department of Community Affairs, in consultation with the Office of Information Technology, to establish and maintain a dedicated webpage listing all long-term property tax exemptions granted to municipalities. This webpage creation is intended to provide public access to critical information, which includes the name of the project, type of project, financial details such as payments in lieu of taxes, and assessed property values.

Contention

While the bill has the potential to improve public oversight, some stakeholders may express concerns about the additional administrative burden placed on local government services. The requirement for municipalities to consistently report and update the exemption information could be viewed as onerous, especially for smaller municipalities with limited resources. Critics may argue that the effort required to maintain this transparency could detract from other vital local services that require attention and funding.

Notable_points

Assembly Bill A438 directly supplements existing legislation surrounding long-term tax exemptions, specifically referencing P.L.1991, c.431. This legislative effort reflects an ongoing initiative in New Jersey to modernize and clarify public financial records. The bill also emphasizes the need for accessible governmental information, making it easier for residents to understand local tax policies and their financial implications.

Companion Bills

No companion bills found.

Previously Filed As

NJ S4069

Requires cost-benefit analyses for long term tax exemption, and requires DCA to create database of exemptions; requires five-year tax exemption and abatement agreements to be filed with certain county officials.

NJ A250

Requires cost-benefit analyses and local government financial impact findings for approval of long term property tax exemption; requires DCA to post Statewide database of these exemptions on its Internet website.

NJ S674

Requires cost-benefit analyses and local government financial impact findings for approval of long term property tax exemption; requires DCA to post Statewide database of these exemptions on its Internet website.

NJ A5217

Requires cost-benefit analyses and local government financial impact findings for approval of long term property tax exemption; requires DCA to post Statewide database of these exemptions on its Internet website.

NJ S3915

Requires municipalities to share certain payments in lieu of property taxes with school districts; informs counties, school districts, and DCA of certain information related to property tax exemptions and abatements.

NJ A971

Requires municipalities to share certain payments in lieu of property taxes with school districts; informs counties, school districts, and DCA of certain information related to property tax exemptions and abatements.

NJ A1107

Requires municipalities to share certain payments in lieu of property taxes with school districts; informs counties, school districts, and DCA of certain information related to property tax exemptions and abatements.

NJ S4577

Requires DCA to conduct study on local government use of financial agreements granting tax abatements and exemptions and accepting payments in lieu of taxation for redevelopment and rehabilitation.

NJ A436

Limits long term tax exemptions in municipalities with school districts receiving certain State school aid.

NJ A157

Prohibits exemption of school purposes property taxes under "Long Term Tax Exemption Law."

Similar Bills

CA AB2013

Property taxation: new construction: damaged or destroyed property.

CA AB1500

Property taxation: application of base year value: disaster relief.

CA AB245

Property taxation: application of base year value: disaster relief.

DC B25-0486

Uniform Community Property Disposition at Death Act of 2023

CA SB964

Property tax: tax-defaulted property sales.

CA SB603

Property taxation: transfer of base year value: disaster relief.

CA SB1091

Property taxation: transfer of base year value: disaster relief.

HI HB1398

Relating To Property.