Open Space Taxes: The Tax-smart Strategy
August 10, 2002• (0) Comments
Taking building lots off-market through strategic Open Space spending turns out to be “tax smart” municipal thinking.
Peapack-Gladstone voters will have a chance this fall to approve an advisory referendum authorizing an increase in the Borough’s Open Space Tax rate from two cents per hundred dollars of assessed valuation to three cents. The increase, if approved, would contribute approximately $60K per year to the Borough’s Open Space Trust Fund while adding just one cent to our current municipal property tax rate.