NJ Spotlight/Depleted Transportation Trust Fund Creates Fiscal Crisis for Municipalities

//NJ Spotlight/Depleted Transportation Trust Fund Creates Fiscal Crisis for Municipalities

NJ Spotlight/Depleted Transportation Trust Fund Creates Fiscal Crisis for Municipalities

Mayors in towns across New Jersey will soon get ready to draft municipal budgets with no idea how much local transportation aid they should count on receiving from the state — meaning motorists are facing either more trips on dilapidated roads or higher property tax bills to fix them.

John Reitmeyer, NJ Spotlight

There’s a good reason why the New Jersey State League of Municipalities supports a healthy New Jersey Transportation Trust Fund; money from the fund helps counties and municipalities with infrastructure. So while people are against the gas tax, there are two things that they need to consider:

  • Approximately 1/3 of gas tax revenue is paid by out of state drivers.
  • As the article suggests, municipalities may be forced to increase property taxes if the Transportation Trust Fund goes bankrupt July 1.

Read the full story on NJ Spotlight: http://www.njspotlight.com/stories/16/02/03/trenton-stalled-on-how-to-refuel-running-on-fumes-transportation-trust-fund/

By |2016-02-05T16:22:18+00:00February 5th, 2016|Infrastructure|