Residents who shop at certain local businesses in their municipality would be eligible for cash rewards as part of a property tax reward program created under legislation sponsored by Assemblyman Nicholas Chiaravalloti (D-Hudson) that was signed into law Wednesday by Governor Phil Murphy. The new law (formerly bill A-4806) received final legislative approval in March, passing the Assembly 72-0 and Senate 37-0.
The law authorizes property tax reward programs structured as local merchant loyalty initiatives. The programs will provide cash rewards to municipal residents and employees, people who work in the municipality, and residents of other municipalities who choose to participate in the program when they buy goods or services from businesses in the town that agree to provide cash rewards. The program will be run by a private entity designated by the municipality.
Shoppers will use a rewards card to make purchases at participating businesses and rewards will be calculated as a percentage of the total sale. The business will pay for the rewards earned by customers, plus a separate administrative fee for the program’s operator.
On June 1 each year, the operator of the program will provide the municipal tax collector with a list of property owners who participate, as well as their rewards earned between May 1 and April 30. The total dollar value will be subtracted from the resident’s property tax bill. Participants who do not live in the municipality will receive a rebate check.
The law also validates existing property tax reward programs.
This law is part of a legislative package based upon recommendations from the coronavirus recovery Economic Advisory Council established by Assembly Speaker Craig J. Coughlin. The council’s charge was to provide input and ideas to the State Legislature to guide New Jersey’s economic recovery from the COVID-19 pandemic.
Assemblyman Chiaravalloti released the following statement on the new law:
“Municipalities across New Jersey have found a way to do the impossible; encourage residents to support local businesses, while at the same time lowering their property taxes. Businesses do more business. Shoppers know every dollar they spend at participating local stores and restaurants will lower their property tax bill. It’s common-sense solutions like this that will boost New Jersey’s economic recovery from the COVID-19 pandemic-induced recession and ease its burden on small businesses and hardworking families.”
Scary enough that big tech knows your every move. Now we have the municipalities and tax clerks too. That can be a nice piece of change on a car or expensive household furniture, appliances, etc. Food and clothes are exempt. You gotta love paying for other people’s stuff.
Stupidest thing i’v ever heard . What we all should be concerned with is HOW our tax money is spent by whom and for what !
Just more socialist redistribution and over government Insane. If you have extra money from property taxes… don’t charge everyone. Lower everyone’s tax burden. Where do they get off collecting from some and not others… and taking extra and then giving it back to the people they ant for doing what they want to incentivize. Sickening.