Re: 'What is this, Russia?' Jersey City property owners fight developer
Posted by brewster on 2018/7/10 23:09:26
I am aware of the so called equalization rate. I almost included in my postbut figured it was common knowledge.
Ok, when you said "The rest of the city had been paying on an assessment that was a fraction of actual value." you gave the impression you thought they were paying their "fraction" assessed value but new was paying full FMV.
I don't know how abatement could be used to equalize property tax, they should only be used as they were intended to promote development of "blighted" areas. That they became expected by any developer is the problem, along with the developers greasing the pols to make it happen.
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