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RUMANA SPONSORED BILL GIVING TOWNS
ACQUIRING FLOOD-PRONE LAND TAX-EXEMPT STATUS
APPROVED BY ASSEMBLY
Bipartisan legislation co-sponsored by Assembly Republican Whip Scott Rumana, R-Passaic, Bergen, Essex and Morris, that would exempt flood-prone properties acquired by municipalities from county, school and fire district property taxes for the following tax year, was approved by the General Assembly on Monday.
Under current law, if a municipality acquires such a property after October 1, it must pay the county, school, and fire district property taxes owed for all or the remainder of the following tax year.
“This legislation will encourage towns that chronically deal with flood-prone areas to acquire these properties without incurring an immediate tax liability,” said Rumana, who as the former mayor of Wayne is quite familiar with the issue of flooding. “There are several viable approaches to limit and deal with a town’s exposure to flooding, as well as the financial consequences and heartache faced by a homeowner. This is a common sense bill that stipulates a purchase between the town and a property owner must be mutually agreeable. The buyout program is one more way to fix the problems created by flooding that have existed for generations in our state.”
The bill, A-3362, is also sponsored by Rumana’s Republican colleagues Holly Schepisi, Jack Ciattarelli, Mary Pat Angelini, Scott Rudder, Jay Webber and Amy Handlin.
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"Assembly Speaker Vincent Prieto, a Hudson County Democrat, is balking. He claimed Tuesday that members of his caucus are divided over the measure and that his house is in no real rush – besides, even if enacted this year, the reforms would not take effect until 2017, he said. And with the growing belief that Christie could skip town to run for president, some Democrats are not eager to give him another talking point for his résumé. Christie’s plans to stump for Republican candidates in New Hampshire later Thursday only fuel that suspicion." - columnist Charles Stile- The Bergen Record
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