SCHEPISI CALLS ON GOVERNOR TO RESTORE TRANSPARENT FORMULA-BASED AID FOR MUNICIPALITIES

Schepisi
SCHEPISI CALLS ON GOVERNOR TO RESTORE TRANSPARENT FORMULA-BASED AID FOR MUNICIPALITIES
 
Today, Senator Holly Schepisi (R-39) sent a letter to Governor Murphy calling on the administration to restore the transparent formula-based aid in the FY26 budget for municipalities that was eliminated from the FY25 state budget.

An excerpt from the letter reads:

“The cut to a fair formula property tax relief program will hit municipalities and property taxpayers hard after years of high inflation. It will hit particularly hard in communities stuck in a State-run health insurance plan with its recent 16% premium increase. If your budget does not ensure income tax revenues are used solely for fair formulas as a way to restore the elimination of $150 million in fair property tax relief, there are other options.  My colleagues and I proposed billions of dollars in State budget savings, program reforms, and non-tax revenues that have not been embraced.”

You can read the full letter here.

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