Point Pleasant, NJ – Residents, here, will soon be able to swipe a card at local businesses to save on their property taxes.
During a council meeting held this week, Mayor Robert A. Sabosik and Council – in their effort to bolster the local economy and provide property tax relief – introduced an ordinance to create a property tax rewards program in the Borough.
The program would provide a discount on property taxes as an incentive to shop locally at participating businesses. The program is modeled after one Marlboro Township successfully implemented three years ago.
How the Program Works
Mayor Sabosik explained the Borough would distribute a property tax reward card to residents. Then, when shopping at a participating local business, together with the normal payment for goods and services, the cardholder would also submit their rewards card. The card would then be swiped in a dedicated processing machine that Fincredit, Inc. (the managing company of the program) would provide the business.
The swipe would then result in a rebate on the sale, which would then be credited to the shopper’s tax rewards program account. Each individual business determines their own rebate amount. Rebates would then be applied to the customer’s property tax bill.
For local businesses, Mayor Sabosik emphasized that they should enjoy higher volume and increased revenue.
“Not only will the residents of Point Pleasant be able to reduce their property tax bill, but they will also be encouraged to give their business to local merchants,” Mayor Sabosik said this week. “This is a win for everyone in our community. The Council and I are placing a great emphasis on growing our local economy.” “This program should also help landlords fill their empty store fronts and attract new businesses by showing the positive stance our administration has taken to attract and promote local merchants.”
What’s Next
Mayor Sabosik and Council will soon begin to host informational sessions with local businesses and residents with the goal of starting the program as soon as possible.