Re: Mayor Fulop Signs Executive Order Dedicating 10% to Future Tax Abatement Payments to JC Public schoo

Posted by Stringer on 2017/4/6 11:37:22

Jersey City will share tax abatement revenue with schools

By Terrence T. McDonald | The Jersey Journal
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on April 06, 2017 at 11:27 AM, updated April 06, 2017 at 11:33 AM

JERSEY CITY -- Jersey City public schools will get a portion of the revenue the city receives from long-term tax abatements under an executive order issued by Mayor Steve Fulop yesterday.

Ten percent of the annual service charges collected from long-term tax breaks -- otherwise known as payments in lieu of taxes -- will be directed to the public-school district. The executive order applies to all future market-rate residential, hotel, commercial and industrial tax abatements. ... h.html#incart_2box_hudson

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