The Asbury Park Press reports that the Middletown Township Committee is considering Trenton style gimmickry to plug a budget gap caused by Trenton.
According to the APP, Middletown is considering selling off 50% of future cell tower revenue for a upfront payment of $890,000. This one shot deal would partially offset state mandated expenditures; a $1.1 million increase in pension contributions, a mandated $315K increase to public library funding and $750K in severance for six police officers who retired in 2007. Additionally, Middletown would lose $635K in state aid under Corzine's proposed budget.
With political control at stake in Middletown in this year's election for the first time in decades, it is understandable that the Republican dominated committee would want to lessen the blow of property tax increases. But, this one shot deal is bad fiscal policy and bad politics. There will be an increase even with the gimmick.
Middletown, and every other towns facing increases should politically place the blame for property tax increases due to state mandates and aid cuts exactly where it belongs....on Trenton Democrats. Don't give the Trenton Democrats cover by using one shot gimmicks. They have been doing that themselves for years.
I don't vote in Middletown, but I do pay property taxes there. I'd rather have the cell phone revenues available to lessen the pain over time than to overdose on them this year and have worse pain in future years.
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I agree with you, Art. We have had almost daily solicitations from companies that want to monetize our cell tower revenue ever since we went out to bid last Fall.
One shot deals will hurt our Borough after we are out of office, and that is not good policy.
Thanks Mike. It's a great deal for the salesmen calling every day...they get an up front commission, the lawyers make their fees and the investors get a steady stream of safe income that exceeds the return on municipal debt.
It is a bad deal for tax payers who are absorbing those commissions and fees.
THE REPUBLICAN MAJORITY in Middletown is desparate for anything to make them LOOK good. The illegal methods to delay filling of the mandated revaluation is an example. The ones making money are the lawyers and the taxpayers pay the bills. The time has come to clean up some of this MESS. The PEOPLE need representation and we are not getting it from this bunch. It is disgusting to listen to the dribble that comes out of the mouths of the mayor and deputy mayor. Grow up and govern.
Art, your are right on the money with your comments. When will we see an end to budget gimmicks from desperate politicians in Middletown. Not this year apparently.
Maybe they should also tell the public how much larger the tax increase next year because of the revenue hole they have created. let's not forget the impact of the reevaluation and the FEMA insurance tax. Art,you are so good at calling a spade a spade.
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