80% luxury and 20% affordable in one place sounds like an oxymoron.

The five year is standard, 20% each year. However, longer abatements (15 plus years or more) have different terms. Some abatements do pay more at year 16 but every abatement is truly different. As an example, the city will not know what it will receive from Journal Square for five years. That particular abatement is allowing the developer to recoup a lot of expense. Mr. Byrne, the city clerk is suppose to put all abatements on-line. I don't know if it happened. But you can also call the tax assessor office and ask about the terms on a particular property.
Yvonne

Do you know if the increase is always evenly spread out?

for example, 5year 20% a year, 15yr 6.6%, and 30 year 3.3% etc..

will give jersey city tax assessor office a call? be nice if they can find the full details.

thanks

It depends on the agreement. On a five-year abatement the increases are 20% each year unitl 100% in five years. However, former Mayor Schundler gave generous abatements for luxury condos that lasted from 15 and 20 years. My suggestion, call the tax officer in city hall and ask about the terms of the abatment. Some abatements were even longer 30 plus years, if project was tied into affordable housing 80% luxury and 20% affordable).
Yvonne

For properties (non-condo) that has a tax abatement with an annual increase in tax each year until the end of the abatement. Does anyone know how NJ determines how much to increase each year for said property? is there a place to find that out. The property is still in construction. thanks