21 May: Madden Legislation Provides Tax Breaks For Security Enhancements

TURNERSVILLE, NJ – The Senate Community and Urban Affairs Committee today passed S-324 – legislation sponsored by Senator Fred Madden which would allow the owner of a commercial, industrial or apartment property to apply for an exemption from taxation on the value added from any new security enhancements made to the property.

“This legislation provides incentives for property owners to make necessary security enhancements,” Madden (D-Gloucester, Camden). “The changes will help prevent criminal activities from occurring on the property grounds.”