Why the “rain tax” is a bad idea for New Jersey property owners

By Jason R. Rittie, Esq. By now many of you have heard about New Jersey’s proposed “rain tax.”  It is part of pending legislation known as the “Clean Stormwater and Flood Reduction Act.” Although the proposed legislation has been around for many years, previously vetoed by former Gov. Chris Christie, Gov. Phil Murphy appears to be ready to sign the legislation. If Gov. Phil Murphy signs the legislation, local municipalities and counties will be allowed to create stormwater utilities. The intent and purpose of the legislation is to allow these stormwater management utilities to control the amount of stormwater runoff and pollutants washing into New Jersey’s existing sewer systems and waterways. The legislation also proposes that the stormwater utilities be funded by fees assessed against property owners. The legislation applies to all types of residential, commercial and industrial properties. Although some Legislators state that the…

Read more detail on Recent Tax Law posts –

This entry was posted in Tax Law and tagged , , , , , . Bookmark the permalink.

Leave a Reply