Which properties have Jersey City's most lucrative tax abatements?

By Terrence T. McDonald | The Jersey Journal The Jersey Journal 
August 11, 2015 at  8:52 AM

$30.6 million.

That's how much 10 Jersey City properties with long-term tax breaks would have paid more in taxes last year if the city had billed them at the normal rate.

The figure comes from the city's user-friendly budget, a new document meant to offer taxpayers an easier way to learn how their money is spent.

Overall, the document says the city's 146 tax-abated properties would have paid about $80 million last year under normal taxation.

Ten private properties alone — six office buildings and four residential towers, all along the lucrative waterfront — would have paid about 40 percent of that total. Portside Towers, overlooking Liberty State Park, represents the biggest disparity: the city raked in $2.4 million from Portside last year, $5.7 million less than it would have received under normal taxation.

Read more:  http://www.nj.com/jjournal-news/index ... t_lucrative_jersey_c.html

Fulop to Ciattarelli: Thanks for Speaking up for the First Time in 25 Years

In a possible dry run of a 2017 D v. R statewide collision, Jersey City Mayor Steven Fulop slapped back at a criticism leveled at Jersey City by Assemblyman Jack Ciattarelli (R-16).

“Jersey City had a tax reduction last year and just today we will adopt a budget without a tax increase,” Fulop Spokeswoman Jennifer Morrill said. “Jersey City has led the state in job creation just as we had a credit upgrade last year. Nevertheless, we are excited that after 25 years in elected office, Ciattarelli finally decided to speak up on an issue. We look forward to hearing about his next policy stance in the year 2040 as directed by a new generation of Republican officials.”

Both Fulop and Ciattarelli are routinely discussed in their respective party circles as 2017 gubernatorial candidates.

Read more at Fulop to Ciattarelli: Thanks for Speaking up for the First Time in 25 Years | New Jersey News, Politics, Opinion, and Analysis Follow us: @politickernj on Twitter | PolitickerNJ on Facebook

GOP Assemblyman Ciattarelli targets Jersey City

In a potential 2017 precursor to a general election for governor, a Republican lawmaker aimed today to unhorse the hard-charging Democratic Mayor from Hudson County.

On the heels of an attack earlier this year by an Assembly colleague and doing his own part to muddy Jersey City Mayor Steven Fulop, Assemblyman Jack Ciattarelli (R-16), said Jersey City losing $80 million in property taxes due to tax abatements exemplifies a broken school funding system.

The assemblyman from Hillsborough noted that Jersey City’s abatements or payments-in-lieu-of-taxes (PILOT) are long-term tax breaks given to developers, allowing them to pay a fixed amount instead of the normal property tax rate. The city shares five percent of the PILOT revenue with the county. Most times, the school district receives very little or nothing.

Read more at GOP Assemblyman Ciattarelli targets Jersey City | New Jersey News, Politics, Opinion, and Analysis Follow us: @politickernj on Twitter | PolitickerNJ on Facebook

JERSEY CITY TAX ABATEMENTS MANIPULATE SCHOOL FUNDING SYSTEM AND UNFAIR TO NEW JERSEY TAXPAYERS

July 28, 2015 by RealEstateRama 

Assembly Republican Jack Ciattarelli, R-Somerset, Hunterdon, Mercer and Middlesex, said Jersey City losing $80 million in property taxes due to tax abatements is a prime example of how the school funding system is manipulated. A recent news report revealed the lost property taxes.

WASHINGTON, D.C. – July 28,  2015 – (RealEstateRama) — Assembly Republican Jack Ciattarelli, R-Somerset, Hunterdon, Mercer and Middlesex, said Jersey City losing $80 million in property taxes due to tax abatements is a prime example of how the school funding system is manipulated. A recent news report revealed the lost property taxes.

Jersey City’s abatements or payments-in-lieu-of-taxes (PILOT) are long-term tax breaks given to developers, allowing them to pay a fixed amount instead of the normal property tax rate. The city shares five percent of the PILOT revenue with the county. Most times, the school district receives very little or nothing.

“This report reveals the tip of an iceberg that is vast and mostly underwater,” said Ciattarelli. “Short-term property tax abatements, under very special circumstances, may have their place. What’s happening in Jersey City and elsewhere is crony capitalism at its worst and an injustice to all New Jersey taxpayers.

“Jersey City can afford to siphon property tax revenues from their schools because the state provides such large subsidies,” stated Ciattarelli. “In Jersey City, the state contributes 60 percent of its school funding. This subsidy is so overly generous that local taxpayers pay only 15 cents on the dollar for their schools. -

See more at: http://newjersey.realestaterama.com/2 ... html#sthash.vPcfO7nl.dpuf

Tax-abated Jersey City properties would pay $80M more in normal taxes, report says

By Terrence T. McDonald | The Jersey Journal The Jersey Journal
July 26, 2015 at  4:40 PM

JERSEY CITY — The 100-plus city properties with long-term tax breaks would have shelled out $80 million more if they were taxed normally in 2014, according to the draft of a new city budget document obtained by The Jersey Journal.

The additional money the tax-abated properties would have paid range from $5.7 million for the Downtown apartment complex Portside Towers, completed in 1994, to $263 for the 45-unit Summit Heights, which opened near the Union City border in 2010, the document shows.

In all, Jersey City collects $119,230,890 from 146 payment-in-lieu-of-taxes (PILOT) agreements, compared to $198,589,915 the city would collect if the properties were billed in full in 2014. Sixteen of the properties on the list pay more via their PILOT agreements than they would under normal taxation.

Read more:  http://www.nj.com/hudson/index.ssf/20 ... sey_city_tax_abateme.html