January 6, 2005 | Read Time: 1 minute
New Jersey loses nearly $90-billion a year in potential revenue because nonprofit organizations and governments there are not required to pay property taxes, according to a new report.
The property of most of the state’s nonprofit groups and governments is located in a few cities, depriving those communities of a significant amount of taxable land, said the report, published by New Jersey Policy Perspective, a Trenton nonprofit organization that studies public policy.
The report suggests that regions of the state pool their property-tax revenue so that entire areas, rather than single cities, bear the burden of the hospitals, universities, churches, governments, and other tax-exempt groups that operate within their borders.
The report, “Free New Jersey: The Burden of Property Tax Exemptions,” is available online at http://www.njpp.org/reports.html.
