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NEW JERSEY PROVIDES TAX INCENTIVES TO RESIDENTS WHO SHOP LOCAL--NY SHOULD DO THE SAME
Release Date: September 24, 2015
NEW YORK STATE SHOULD DO WHAT NEW JERSEY HAS BEEN DOING FOR A FEW YEARS AND PROVIDE REAL ESTATE TAX INCENTIVES TO RESIDENTS WHO SHOP LOCAL
School property taxes are due on September 30. This is a suggestion that I am making to our State Legislators that could result in lower taxes.
The New York State Legislature should authorize localities in New Jersey to do what New Jersey has authorized their localities to do—provide residents with the opportunity to benefit financially if they shop local. A few years ago New Jersey authorized localities in their state to implement a shop local program that benefits taxpayers. A portion of the normal purchasing dollars spent annually on goods and services is applied against the property tax bill, thereby reducing taxes at the end of the year.
One community, Marlboro Township, initiated the program and it is a win-win! Marlboro Township development committee has initiated a Shop Marlboro program that promotes local businesses and enriches the sustainable goals of a well organized shop local campaign. There is an uptick in business and more businesses are participating.
The Shop Marlboro property tax reward program is available to all property owners with no cost to residents. When coded Shop Marlboro cards donated by Investors Bank are used at establishments that participate in the program. A percentage of each sale is applied toward the resident’s property tax bill. It is not a credit card.
During 2014 Marlboro businesses realized more than $1,000,000 in sales and residents saved nearly $65,000 on their property taxes. There are currently 50 local businesses that participate with about 3,500 residential properties registered. I have been in touch with another community –Manalapan, New Jersey and they also have reported successes with the program.
We all want our taxes to go down. This program helps reduce real estate taxes. We all want our local stores to be more successful. This initiative encourages shoppers to shop locally. I have written to the Governor, State Legislators and to our business leaders encouraging them to support this program for New York communities.
Greenburgh Town Supervisor