Joined: 09 Oct 2007
|Posted: Mon Jan 21, 2013 9:26 pm Post subject: property tax rewards for shopping locally
|Innovative program to give Bayonne residents property tax rewards for shopping locally
By Anthony J. Machcinski/The Jersey Journal
on January 21, 2013 at 8:00 AM, updated January 21, 2013 at 10:25 AM
Mayor Mark Smith
Bayonne residents may soon be given a way to reduce property taxes while spurring the local economy.
Mayor Mark Smith announced that his administration will present a proposal for a “Shop Bayonne Card.”
“We are very excited about this proposal,” Smith said. “This will be a win-win for the people of Bayonne.”
If approved in time, the Shop Bayonne Cards would be mailed to every city resident around March 1 and allow residents to save money on their taxes while contributing to the local economy.
City spokesman Joe Ryan said local participating businesses would decide on the amount of savings residents would receive for using the card.
Residents who use the card would either receive a discount on property taxes or a rebate check for the savings. Participating merchants would decide what percentage they want to give off the purchase price, money which would then be transferred into a special property tax reduction fund.
Renters and others who do not pay property taxes would have the option of receiving the discount in the form of an annual rebate check, according to the plan. Card users can check their accounts online at any time, officials said.
“Bayonne stores and professional services need to increase their numbers of customers and Bayonne property owners want to reduce their tax bills,” Smith said. “This will achieve both goals.”
Residents would need to pre-register the cards at www.propertytaxcard.com. The card system has been used in other municipalities, including Marlboro.
Smith said he has high hopes for the program.
“The Shop Bayonne Card will produce great economic benefits for consumers and businesses alike,” Smith said. “I would like to encourage all Bayonne shoppers and businesses to participate in this great new program.”
The Urban Enterprise Zone would need to make an agreement with the card company, which would then recruit local merchants for the program, according to Ryan.
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