New Jersey Bill To See More Tax Allocation To Atlantic City

• New Jersey lawmakers are deliberating a bill to divert some tax allocation to the benefit of Atlantic City.
• Mayor Marty Small believes the city should see more funds from the taxes imposed by the state.

ATLANTIC CITY, N.J. – A new bill made its way through the New Jersey Senate on Thursday meant to move a 1.25% tax on sports wagering from Casino Reinvestment Development Authority to Atlantic City.

This bill would further establish Atlantic City as the main hub for sports betting in New Jersey.

Taxation Reallocation

The intended effect of Bill S854 is for the diverted 1.25% tax to be used for tax relief on local properties.

According to the bill’s sponsor, Senator Troy Singleton, this would result in roughly $2 million a year for Atlantic City to use.

“This is literally giving money back to taxpayers,” said Singleton. “If we’re serious about affordability, here’s an opportunity.”

Atlantic City’s Mayor, Marty Small, has voiced his dissatisfaction with the allocation of fund from the taxation on his city.

“Everyone in this room, and there are about 25 of us, can drive to Atlantic City,” Small said. “Once we park our car, that’s parking tax. We go to the bar and buy a drink, that’s luxury tax. We go into our room, that’s the room tax. We go to a late-night show, that’s luxury tax again. Then we make a sports bet; that’s sports betting tax. Guess what the residents of Atlantic City get from our stay?” he asked. “Zero. When are we going to get our slice of the pie?”

Mayor Small also pointed out that although sports betting is taxed by New Jersey, Atlantic City sees nothing from this.

“When the bill (legalizing sports gaming) first passed in 2018, the only municipality or township left out of benefiting from sports gaming was Atlantic City,” said Small, who was in Trenton to speak in favor of the bill. “Make that make sense.”

The bill is facing opposition, however, from State Senator Vincent Polistina, who claims a “global discussion” of Atlantic City’s future is necessary before changes are made to the money earmarked for the casino reinvestment agency.

The legal sports betting bill has made some headway, but still has to be approved by the full Senate and Assembly.

News tags: Atlantic Ciy | Bill S854 | Marty Small | New Jersey | Troy Singleton | Vincent Polistina