New Jersey Gambling Tax Questions Still Have an Unclear Future

New Jersey legislators are looking at a bill that would shift some sports betting taxes to Atlantic City from a state agency for property tax relief. Last month, Senator Troy Singleton introduced a bill that would redirect the 1.25% gambling tax currently paid to the Casino Reinvestment Development Authority (CRDA) to the city. The change comes around the same time New Jersey approved the PILOT bill for casino relief.

New  Jersey Continues to Shuffle Tax Dollars

The CRDA is currently using the money to market and promote Atlantic City. Instead, the bill would send the money to the city for relief from local property taxes.

Mayor Marty Small said that it would be a big win for Atlantic City’s taxpayers, who would finally be allowed to take advantage of the sports betting taking place in the city.

The bill’s fate is uncertain. It was presented on December 13, and sent to a state senate committee. A week later, the PILOT bill was approved, although it still has a tenuous future, as well.

The new bill will need to be introduced in the next legislative session next Tuesday if it isn’t advanced by the committee and approved by both houses of state Legislature before Monday’s end. The bill was not on the list of bills that was posted for voting on Thursday.

Small claimed that the city could get several million dollars annually if the measure is passed. He complained long ago that Atlantic City doesn’t share in the financial benefits of New Jersey’s national-leading sports betting marketplace.

Atlantic City Continues to Morph

In a press conference this week that lasted over two hours, Small and a few of his aides discussed which goals had been achieved since his February State of the City address. Small was proud of his accomplishments, including the demolition of Trump Plaza’s casino and the opening of ShopRite, a CRDA-funded supermarket that opened in the city.

Small said that a multi-purpose recreation center is also in the works. There are also security cameras near Atlantic Avenue and Pacific Avenues.

Small predicts that a massive $100 million indoor waterpark will open this month. However, he deferred details to Bart Blatstein, the developer, at his upcoming press conference. Small said that a “road diet” will be implemented for Atlantic Avenue, reducing it from four lanes down to two. This would make room for bicycle lanes and parking.