Re: Jersey City abatement vote met with mock party
Posted by stateaidguy on 2017/3/10 12:16:36
The protesters are right, the abatements do harm other Jersey City taxpayers.
Even disregarding the costs of services for new residents/workers/students, unless the PILOT fee exceeds 86% of normal taxation, Jersey City taxpayers get less of a tax offset than they would from new development brought in under normal taxation.
The only time a PILOT deal would be net-positive fiscally if if the abatement truly is a but-for factor in construction. http://njeducationaid.blogspot.com/20 ... atements-hurt-jersey.html
The only area I disagree with the protesters with is in who the victim is. PILOTs are tax fairness problem, not a school budget problem. If Jersey City PILOTed nothing what would happen is that other Jersey City taxpayers would pay less in taxes. Unless the BOE passed a larger tax levy, the schools wouldn't have a cent more.
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