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Bill

S 4691

Eliminates Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid; establishes Municipal Property Tax Relief Fund.

2024-2025 Regular Session Introduced by Troy Singleton

New Jersey bill consolidates two municipal property tax relief programs into a single new fund, restructuring how aid reaches municipalities statewide.

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
#propertytax #stateaid
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Bill Summary · S 4691

Legislative bill overview

S 4691 eliminates two existing property tax relief programs (Energy Tax Receipts Property Tax Relief Aid and Consolidated Municipal Property Tax Relief Aid) and replaces them with a new Municipal Property Tax Relief Fund. The bill fundamentally restructures how New Jersey distributes property tax assistance to municipalities, consolidating previous aid mechanisms into a single fund.

Why is this important

Property tax relief is a critical issue in New Jersey, which has among the highest property tax burdens in the nation. How the state distributes aid directly affects municipal budgets, school funding, and residential affordability. Restructuring these programs could either improve efficiency or disrupt funding to municipalities currently dependent on existing aid formulas.

Potential points of contention

  • Transition impacts: Eliminating established programs risks creating winners and losers among municipalities; some may receive more aid while others lose funding they've relied on for budgets
  • Fund design details: The bill doesn't specify how the new Municipal Property Tax Relief Fund will allocate money—whether it uses the same formulas, changes eligibility criteria, or shifts resources between regions
  • Energy tax revenue: Eliminating Energy Tax Receipts aid could affect municipalities that depend on this specific revenue stream, particularly those in areas with energy production or transmission infrastructure

Compiled from official sources — confirm details with the bill’s official record.

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