New Jersey A1246 mandates cost-benefit analyses and local government financial impact findings for long term property tax exemptions, and requires.

New Jersey A1246 amends existing law to require cost-benefit analyses and local government financial impact findings for the approval of long term property tax exemptions. This bill mandates that the Department of Community Affairs (DCA) post a statewide database of these exemptions on its Internet website. The bill ensures that municipalities evaluate whether an investment in a redevelopment project through a long term property tax exemption will generate satisfactory revenue returns.

New Jersey A1246 mandates cost-benefit analyses and local government financial impact findings for long term property tax exemptions, and requires.

New Jersey A1246 amends existing law to require cost-benefit analyses and local government financial impact findings for the approval of long term property tax exemptions. This bill mandates that the Department of Community Affairs (DCA) post a statewide database of these exemptions on its Internet website. The bill ensures that municipalities evaluate whether an investment in a redevelopment project through a long term property tax exemption will generate satisfactory revenue returns.