A multi-year tax appeal settled for the commercial and hotel space at Carriage City Plaza yielded a combined refund of $85,000, a reduction of about 12.5 percent of its tax bill over the four disputed years.
A St. Georges Avenue auto center won a tax appeal that slashed more than a quarter off its property tax bill for last year.
City Council is scheduled to hold a public hearing and final approval of the 2017 municipal budget during its combined conference and regular meeting tonight, starting at 7 p.m. The $54-million spending plan, which projects an average municipal tax increase of $81, was introduced at the April 24 regular meeting.
Payments In Lieu Of Taxes (PILOTs) more than doubled in last year’s municipal budget, eclipsing $2 million after three new projects were added to the tax rolls. The spending plan for 2017 anticipates $1.3 million after the expiration of one five-year PILOT.
City Council is scheduled to vote on a $140,000 Special Improvement District (SID) budget for 2017 during its combined conference and regular meeting on June 12.
City Council introduced a 2017 municipal budget on Monday night that estimates an average tax increase of about $81, or 2.4 percent, on the average Rahway home.
City Council is expected to introduced the 2017 municipal budget at its next regular meeting, April 24.
Rahway’s overall assessed value is about 7 percent off since the recession with assessed values of apartments and industrial properties heading in opposite directions while commercial assessments are almost back to pre-recession levels.