You’ve heard this one before: New Jerseyans pay the highest property taxes in the country. But some municipalities are trying to reduce the property tax burden on their residents through a discount card program, and data shows the idea is picking up steam.
“It’s a win-win for the local residents as well as the local businesses in town,” said Hector Cabezas, a councilman in Glassboro, which rolled out a property tax card program in 2014. “If we can save a few tax dollars here and there,” said Cabezas. “It adds up.”
When you make a purchase at a participating business, you present the property tax card to get a discount. But you don’t get the discount on the spot; you pay full price. Instead, the business sends a percentage of the sale to the town, which then subtracts it from your property tax bill.
In Glassboro, residents have saved $26,500 in property taxes since May, according to local officials.
Mayor Michael Mignogna, who set up a property tax card program in Voorhees two years ago, said there is no downside for residents to partake in the program – only the extra step of identifying a participating business.
According to Mignogna, 7,000 residents and 50 businesses take part in the 2-year-old program in Voorhees, which has saved homeowners about $100,000 in property taxes.