TRENTON – The Senate approved legislation today sponsored by Senator Jeff Van Drew that would allow local library boards to transfer surplus funds to the local municipality in order to provide property tax relief to homeowners.
“This bill will provide much needed property tax relief to towns that are desperately trying to stay underneath the 4% cap while maintaining services,” said Senator Van Drew, D-Cape May, Cumberland and Atlantic. “Unfortunately, State law can mandate an annual increase in library funding far beyond what is needed, preventing our towns from efficiently and fairly using tax dollars.”