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Re: Tax abatements
#4
Home away from home
Home away from home


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didn't i read somewhere (probably here) that ed had to resign b/c of some conflicting interests?

Posted on: 2008/2/6 21:10
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Re: Tax abatements
#3
Just can't stay away
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If you are a small property owner, you simply need to prove that you are increasing the size or value of your property by more than 33%. Go down to City Hall and get the necessary paperwork from Ed Tolozo, the Tax Assessor. The taxes on the improvement will be scheduled as follows:

Year 1 = 0% of equalized value tax levy of improvement
Year 2 = 20% of equalized value tax levy of improvement
Year 3 = 40% of equalized value tax levy of improvement
Year 4 = 60% of equalized value tax levy of improvement
Year 5 = 80% of equalized value tax levy of improvement
Year 6 = 100% of equalized value tax levy of improvement

In Jersey City, the equalized value tax levy is around 1.4% of actual value, which in the case of an improvement is the improvement's hard construction cost. A bill, or bills, from your contractor(s) will ultimately document this.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

If you are a large property owner, you need to get an ordinance passed which will set taxes at rates that are higher than traditional taxes and calculated as a percentage of the new property's gross income. This starts by writing one and calling the Council's Abatement Committee for a hearing on your abatement ordinance. Call the City Clerk for help scheduling, or better yet, just call a local attorney to help you. Since you are looking for advice on a bulleting board, I have to assume you are asking about the small property abatements not the large ones.

Posted on: 2008/2/6 11:54
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Re: Tax abatements
#2
Home away from home
Home away from home


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Donate generously to the re-election campaigns of Healy and most of the city council.

Posted on: 2008/2/6 5:06
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Tax abatements
#1
Quite a regular
Quite a regular


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Hi
Can anyone tell me how someone would know if they qualify for one?
Also, how much time do they have to file for one?
Thanks in advance

Posted on: 2008/2/6 2:31
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