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The Lakewood Scoop · Aug 12, 2026

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FIRST REPORT: State Rejects Lakewood’s Waiver Request To Raise Property Taxes Above The Cap Threshold During a hearing this morning, the New Jersey Local Finance Board rejected Lakewood Township’s request for nearly $12.9 million in additional property tax revenue above the state’s statutory cap, TLS has learned, with board members raising concerns about the township’s recurring reliance on cap waivers and the sustainability of its spending. The board voted 4-3 against Lakewood’s request for an appropriations cap waiver totaling $12.9 million. The request was intended to allow the township to raise and spend more property tax revenue than otherwise permitted under New Jersey’s municipal tax levy and appropriations limits. Lakewood officials told the board that the township faced significant financial pressures after losing millions of dollars in state funding that had helped offset expenses in prior years. READ MORE ⤵️ Click here to join the official TLS Community:

*FIRST REPORT: State Rejects Lakewood’s Waiver Request To Raise Property Taxes Above The Cap Threshold* During a hearing this morning, the New Jersey Local Finance Board rejected Lakewood Township’s request for nearly $12.9 million in additional property tax revenue above the state’s statutory cap, TLS has learned, with board members raising concerns about the township’s recurring reliance on cap waivers and the sustainability of its spending. The board voted 4-3 against Lakewood’s request for an appropriations cap waiver totaling $12.9 million. The request was intended to allow the township to raise and spend more property tax revenue than otherwise permitted under New Jersey’s municipal tax levy and appropriations limits. Lakewood officials told the board that the township faced significant financial pressures after losing millions of dollars in state funding that had helped offset expenses in prior years. READ MORE ⤵️ https://thelakewoodscoop.com/news/first-report-state-rejects-lakewoods-waiver-request-to-raise-property-taxes-above-the-cap-threshold/ ~~~ Click here to join the official TLS Community: https://chat.whatsapp.com/GGwlPaiG0d49MJTRLfHVPN ~~~

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