Readington has gone backwards on municipal taxes since 2015. Residents and farms pay more. The municipal tax numbers (not including school taxes) speak for themselves:
Our ratable base has declined in the past 3 years, most notably in the commercial sector where the assessed valuation has declined by 12% since 2015. Our ratable base has declined in the past 3 years, most notably in the commercial sector where the assessed valuation has declined by 12% since 2015. The picture is worse looking back to 2014, the year before our opponent took office. Since then, we lost $58 million in assessed value. The tax burden on residential property owners has far outpaced the commercial sector under this administration as well. Taxes paid by residential property owners have increased 11% over the past 3 years; farm assessed property taxes have increased 5%. The commercial sector’s municipal tax contribution has declined 2% over the same period.
The Economic Commission we propose will bring much needed balance to our taxpayers. The Economic Commission will proactively engage with citizens and business leaders to bring the right mix of businesses to our community; businesses that will increase the quality and convenience of life in Readington without compromising its rural character.