Repost of News Flash from New Jersey State League of Municipalities (NJLM.org)

The Division of Local Government Services recently issued Local Finance Notice 2025-12 providing guidance on recently enacted legislation regarding Payment-in-Lieu of Taxes (PILOTs).  P.L. 2025, c.91, was signed by Governor Murphy on July 8 and becomes effective on October 1, 2025. The new legislation amends the Long-Term Tax Exemption Law to strengthen counties’ ability to collect their 5% share of a Long-Term PILOT annual service charge (5% county portion). The new law requires municipal tax collectors or chief financial officer who obtain payments-in-lieu-of-taxes under “Long Term Exemption Law” to transmit county portion directly to the county. The new law only applies to annual service charges received on or after October 1, 2025. Continue Reading DLGS Issues Local Finance Notice on Recently Enacted PILOT Law