Van Drew Bill Providing Tax Relief In Communities With Preserved Land Approved by Senate

TRENTON – Legislation sponsored by Sen. Jeff Van Drew (D-1st) to increase payments from the state to municipalities with land preserved through the Garden State Preservation Trust and, by doing so, provide tax relief to residents in those communities was approved Monday by the Senate.
“We want to make sure that towns are preserving farmland and open space, so that we can maintain the quality of life that is created by having an abundance of green spaces,” stated Van Drew in a release. “But we also have to make sure that the loss in tax revenue resulting from the preservation of property does not create an overwhelming burden on residents. This bill is designed to provide tax relief in communities with preserved farmland and open space.”
The bill (S301) would restore funding cut in the FY2011 budget to payments in lieu of taxes (PILOTS) provided by the state to municipalities with open space preserved through the Garden State Preservation Trust. The FY2011 cuts reduced the appropriation for the program by one-third and eliminated payments to municipalities that received less than $5,000 in the previous fiscal year.
The bill appropriates $3.4 million from the General Fund to the Department of Community Affairs for distribution to eligible municipalities. The funding would bring the program back to its FY 2010 level of $9.824 million.
The bill was approved by a vote of 39-0. It heads to the Assembly for consideration.