Township Manager Scott Carew introduced a new program currently used by only one other municipality in the entire state to council. A representative from the “Property Tax Card Program” brought Carew up to speed at a recent South Jersey League of Municipalities meeting.
For participating municipalities, the company issues every household in the township a credit card like item that can be swiped at participating retailers in Moorestown Township. Participating retailers will donate two percent of each dollar spent in its store to a “tax property relief” pool, which will then be distributed to Moorestown taxpayers at the end of the year.
Carew said, for instance, that a Moorestown Township resident enters a participating store and spends $100. They swipe their card, and $2 automatically enters the tax relief pot.
The theory is that participating retailers will see an increase in sales and visitors, while township taxpayers will see a break in their taxes.
Carew said Marlboro Township is the only municipality in the state currently signed up for the program and he will monitor the program as it moves forward.
Council members agreed to host a representative from the program in January to learn more about the initiative.
