Public land and other under-sized lots have generated more than $75,000 for Franklin Township, but apparently the real revenue stream could come from the taxes generated on the land.
The Gloucester County Times reports 20 bidders submitted bids in October for public land and under-size lots. According to the report, Franklin Township began selling off the parcels of land that weren’t needed last year to help supplement the township budget.
Township business administrator Michael DiGiorgio tells the Gloucester County Times the real impact on the budget will be the taxes collected on the lots.
The Gloucester County Times says the sale of the land offers the township three benefits; the revenue of the sale, the tax revenue and the decrease in the township’s reserve of uncollected taxes.