The municipal budget anticipates more than $2.5 million in revenue from Payments In Lieu Of Taxes (PILOT), thanks in part to two new developments coming online and a new state law requiring a contribution from local hospitals.
Continue reading A closer look at PILOT revenue in 2022 budget
The average assessed home in Rahway is expected to see a modest decrease in the municipal portion of their tax bills under a spending plan introduced last week. Continue reading Municipal budget introduced
City Council is scheduled to hold a public hearing and final vote on a proposed $58.6-million municipal budget, which aims to raise $38.1 million through property taxes.
The proposed municipal budget for 2021 includes almost $1.8 million in anticipated Payments In Lieu Of Taxes (PILOT), with at least two new developments expected to add $190,000 this year.
City Council introduced a municipal budget on Monday night that includes no increase in the municipal portion of tax bills this year.
The Redevelopment Agency adopted a $1.41-million budget for 2021, which remained much the same from the 2020 spending plan.
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
City Council introduced a $56.7-million budget for 2020 that projects an average tax increase of $49, or about 1.37 percent.
Continue reading City Council scheduled to vote on 2020 budget