Vainieri Huttle & Eustace Bill Providing Tax Relief to Towns Purchasing Flood-Prone Properties Advances
(TRENTON) – An Assembly panel on Thursday approved bipartisan legislation sponsored on the democratic side by Assembly members Valerie Vainieri Huttle and Tim Eustace to provide tax relief to towns that are acquiring flood-prone homes through the state’s Blue Acres program.
“The homes at issue are being purchased by Blue Acres funds because of constant flooding and they are now coming off the tax rolls,” said Vainieri Huttle (D-Bergen). “Towns should not be left on the hook to pay county and school taxes for a home that is no longer bringing in property taxes because of a delay in processing. This is a sensible way to help beleaguered homeowners and cash-strapped municipalities.”
“This is a simple solution to allow for towns to plan correctly for next year’s budget,” said Eustace (D-Bergen, Passaic). “Towns like Saddle Brook have dealt with enough flooding problems over the past few years. They should not have to pay the consequences of higher taxes due to a technicality while we attempt to alleviate the issue for them and others throughout New Jersey.”