The New Jersey State League of Municipalities has recently echoed what Senator Oraho has been saying – that a failure to fund the NJ Transportation Trust Fund would result in rising property taxes.
…the TTF would gain the resources to invest $2 billion a year for 10 years to repair, upgrade and maintain the state’s roads, bridges, tunnels and railways. The plan will, also, double funding to $400 million annually for counties and municipalities, which will help hold down property taxes at the same time local roads are improved.
This is vitally important funding for New Jersey counties and municipalities as it helps fund hundreds of infrastructure projects around the state. NJ’s municipalities are responsible for over 60% of the state’s road network (with county government responsible for another 22%).
Even with the tax increase (23 cents), the resulting 37.5 cent per gallon tax would still be lower than New York, Connecticut, and Pennsylvania. These out of state drivers already pay 30% of gas tax receipts and will continue to do so as long as gas in New Jersey is less expensive and pumped by gas station attendants.
Without NJ TTF, the burden of maintaining local roads would fall squarely on NJ homeowners, and the state’s 2% cap on property tax increases would not stop it.
Senator Oroho said it succinctly when he said,
“a tax paid by those who use the roads (including those out-of-state) is fairer than a property tax increase to fund the repair and maintenance of roads and bridges.”
Please support better roads and bridges and prevent dramatically rising property taxes by supporting NJ TTF and sharing this with your social network.
