Kelly Phillips Erb at Forbes' Taxgirl blog recently wrote about an innovative business reward program called the Property Tax Card (PTC) that allows taxpayers to earn tax credits as they shop at local businesses. The credits can be used to offset their annual property tax bills.
Taxpayers in Marlboro Township, NJ are giving the PTC program a try. When they shop at participating businesses and swipe their PTC cards, they accrue credits based on the percentage of the amount spent. Suppose, for example, that an individual presents his PTC card when paying for a dinner for four at a participating restaurant offering a 20% rebate. The $200 check earns him a $40 property tax credit (minus processing and management fees) that is credited to his next property tax bill.
The company behind the PTC program, Fincredit, Inc., markets the program as a "win-win solution for town residents, local businesses and townships." Residents enjoy a tax break, local merchants increase their business volume, and towns help support their existing business community.
