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Troy Singleton

Senator
Mount Laurel, NJ

Tax Abatement Accountability

January 18, 2020/in Jobs and Entrepreneurship, Smart Government Tax Reform /by actualize

Problem

It is often challenging for local government to balance the need to repurpose blighted or abandoned lots into taxable property, while ensuring an open and transparent process for their approval and scrutiny. 

Solution

Assemblymember Troy Singleton has advocated for a transparent process for tax abatements that ensures that those finite resources are used judiciously and in the best interests of taxpayers. Singleton proposed legislation requiring municipalities to file copies of tax abatement and exemption agreements with the county chief financial officer and county counsel within 30 days of execution. This will provide a heightened level of public scrutiny over the awarding of these financial incentives. Singleton also proposed legislation requiring municipalities to share certain payments received in lieu of taxes with counties and school districts; informing counties and school district of applications for tax exemptions.

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https://newdealleaders.org/wp-content/uploads/2020/01/tile_tax_reform.jpg 300 300 actualize https://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd-300x74.png actualize2020-01-18 13:48:032020-02-03 07:27:27Tax Abatement Accountability

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