An Idea to Revive Ridgewood CBD : Shopping card pitched to aid property-tax payers, commerce in Pequannock
Tuesday, December 25, 2012
BY STEVE JANOSKI
STAFF WRITER
The Record
PEQUANNOCK — Shop local, save on property taxes.
That’s essentially the premise behind a new Economic Development Committee-sponsored program encouraging residents to direct their purchasing power toward boosting their hometown business community.
And the Township Council is interested in taking a look at it.
Run by the 2-year-old business solutions company Fincredit Inc., the program would seek to issue a “property tax card” to each of Pequannock’s 6,500 households that would be used like a typical store discount card, company representative Nick Campanella told the governing body this month.
Local participating merchants would honor the card, but instead of applying savings on purchases directly to the receipt, the discount would be added to the cardholder’s account.
At the end of the year, the savings would be tallied and the total amount paid to the local government by the company and deducted from the customer’s property taxes.