Notes From All Over

In mid-December of 2005, the NJ Assembly Environmental Committee approved a bill (A-3560) which exempts solar panels and similar equipment from property tax assessment. The bill is expected to be passed into law. Another approval (A-2342) was for a $.03/1000 gallon water tax statewide on water produced by utilities. The proceeds are expected to be $12-18 million annually and would go toward conservation projects and protection of watershed land. Seniors identify “safety” as their top reason for living in a retirement community. In the wake of Katrina, property owners can expect to pay higher premiums for flood insurance. A revised flood law will widen coverage to 500 year floodplains from the 100 year plains now. Congress will trim flood program subsidies.