At the same time, more mature communities throughout the state were forced to raise their property taxes, often more severely, to compensate for the loss of investment, jobs and residents to newer areas. This problem is bigger than any single community can overcome on its own. And it s a no-win game for those that try. Mature communities forced to raise property taxes drive away new and existing investment, and have to raise taxes further. Newer communities that try to stave off property tax hikes by courting additional low-density development find themselves on a treadmill without end.
New Jersey can deal itself a new hand.
Another option is tax sharing. The idea of municipalities combining a portion of their local taxes into a shared regional pool already exists in the New Jersey Meadowlands, and is also used in regions within New York, Maine, Ohio and Minnesota. Subscribe to NJFuture Facts and Issues NJFuture Facts and Issues is published twice monthly via email. To subscribe, simply fill in your name and email address, then press the Subscribe button. All rights reserved.