PolitickerNJ Wire Feed
(NUTLEY) - Assemblyman Ralph R. Caputo recently introduced legislation that would help New Jersey municipalities absorb the devastating impact to property tax rates that occurs when a major business pulls up stakes and relocates out of the town or the state.
The "Corporate Disinvestment Property Tax Relief Act" (A-3807) stems in large part from the June 2012 announcement by the drug maker Roche to end their 80-plus year presence in Nutley, a move that cost New Jersey nearly 1,000 jobs and has denied Nutley $9 million in property taxes - almost 10 percent of what the municipality collects annually.
"When a business, like Roche, announces they're moving their U.S. headquarters out of state, the number of potential jobs lost gets all the attention," said Caputo (D-Essex), a Nutley native. "What gets overlooked is the serious financial, property tax impact such moves have on the towns that host these businesses. That needs to change."
To read more, please visit the New Jersey General Assembly Democratic Office Web site.
Majority Press Office
Mocked by Bridget Ann Kelly and David Wildstein last year in a text message exchange, Democratic Party/Latino activist Cid Wilson is now the butt of a joke on the Conan Show.Read More >
Days Since Last Christie Press Conference (Jan. 9)
Bridget Anne Kelly’s attorney says lawmakers rushed to judgement An attorney for former top Gov. Chris Christie administration official Bridget Anne Kelly filed paperwork arguing his client shouldn’t have to comply with a legislative subpoena. The documents, filed by Kelly attorney Michael Critchley, argues lawmakers rushed to judgment...
By Suzanne M. Walters When unions representing local police and firefighters cannot agree to new contract terms with local governments, State law mandates that the parties submit to binding arbitration. A third-party referee, then, sets the... Read More >
"I can talk to folks on the corner, and I can talk to people in the boardroom." - Newark Mayoral candidate Ras Baraka- PolitickerNJ.com
Press releases are submitted by PolitickerNJ users, not by staff. They do not represent the viewpoint of PolitickerNJ.com.