Re: Mayor Fulop Signs Executive Order Dedicating 10% to Future Tax Abatement Payments to JC Public schoo
Posted by hero69 on 2017/4/6 13:02:43
Jersey City will share tax abatement revenue with schools
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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.
http://www.nj.com/hudson/index.ssf/20 ... h.html#incart_2box_hudson
a good first step imo, but more can and should be done to address abbot/school funding issue.
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