New Jersey Division of Local Government Services Local Finance Notice 2021-03
Local Finance Notice 2021-03 – CY 2021 Municipal Levy Cap Referendum Procedures
This Local Finance Notice provides specific instruction and direction to municipalities operating on a calendar fiscal year considering holding a public referendum to exceed either the:
- Two (2) percent municipal property tax levy cap pursuant to N.J.S.A 40A:4-45.45 or
- One (1.0) percent appropriation cap pursuant to N.J.S.A 40A:4-45.3
Some key elements concerning Levy Cap Referendums are municipalities with Type II boards of education may hold a levy cap referendum on April 20, regardless of when their school board elections are held. Non-partisan municipalities may hold a levy cap referendum on May 11, regardless of when their school election takes place.
Local Finance Notice 2021-03
Please follow the link below to read more about these items and guidance on how your local unit can implement them: https://www.nj.gov/dca/divisions/dlgs/lfns/21/2021-03.pdf
Contact Wielkotz & Company, LLC Today
For further information on Local Finance Notice 2021-03 and its implementation feel free to reach out to Steven Wielkotz at (973)-835-7900 ext. 201 or sdw@w-cpa.com.
