Potential Property Rebate Program Tied to Shopping Locally

Spend more at local shops along Kinderkamack Road in Oradell in the future, and borough residents may receive up to $1,000 off their end of year tax bill. On Tuesday night, borough officials met with Carmine DeFalco who instituted a Property Tax Reward Program in his hometown of Marlboro.

The program encourages users to shop locally and receive tax credits with every purchase at participating stores. According to DeFalco, there is also the added benefit to store owners as well through an increased flow of customers.

"We launched in Malboro in September 2012 and we've seen over $200,00 spending on the card," DeFalco said. "If a restaurant offers a 10% deal and you spend $200 on a meal, you will receive a $20 tax rebate on the card."

The way the program works is that the town issues the program card, one to each homeowner or renter, who in turn must register the card online. The registration process includes submitting your block and lot number to verify your address and tax bill in town. Additional cards can be made available to larger families.

Prior to the June 1 tax bill, DeFalco and his company Fincredit Inc., will provide a compiled list of all residents who took part in the program and their respective tax credits.

If a resident has a $10,000 tax bill and earned 1,000 credits, they would pay a $9,000 tax bill for that year. The difference in the bill is supplied to the town as the credits that were earned throughout the year are deposited into a dedicated bank account for the borough so that Oradell would not lose out on any yearly taxes.

Because renters do not pay property tax bills to Oradell, they would instead be able to receive a rebate check at the end of the year for an amount equal to their tax credits earned.

"It's like a loyalty program so it doesn't matter if you pay cash or credit," DeFalco said. "You just need the business to swipe your card afterwards to receive the credit."

Businesses that participate are charged a $10 per month fee to cover the program's processing system as well as a one-time $160 fee if they chose to purchase a program specific swipe machine. 

"The program is yours and your Chamber of Commerces," DeFalco said. "You can invite any business to participate. We're looking to start in Bayonne, Caldwell, Pequannock and Highland Park soon and have received interest from Voorhees and Manalapan." 

For Oradell to take part in the Rebate Program, at least 20 to 25 businesses would have to agree to participate. Once the borough's businesses have signed on to take part in the program, the council would then pass a resolution to begin implementation.

"There are a lot of municipalities interested in the program," Councilman Tony Meo said. "I met with the Chamber of Commerce earlier today and have already gotten some great feedback from the businesses in town. Ideally, I would love to get this set up for September with back to school shopping."

To learn more about Marlboro's Property Tax Rebate Program, visit the Township's website or Shop Marlboro Facebook page.

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