Tenafly Open Space Tax Fund Up For Vote

Tenafly Open Space Tax Fund

In line with the times and in order to try and alleviate some of the financial burden of Tenafly’s tax payers, the Borough Council is proposing a new referendum to be added on the Nov. 8 general election ballot that would freeze funding for the Open Space Trust Fund for two years, providing Tenafly residents with a slight tax relief.

The Open Space Trust Fund is a 10 year plan that was first enacted by Tenafly residents in the November 2005 general election to aid in the conservation of open space.  The fund already has approximately $1.7 million, according to Councilman Barry Hoing.

The fund is financed by collecting  one cent for every   $100 of assessed property value, in order to fund the purchasing of recreational or conservation areas.  Read more