Revenue from Payments In Lieu Of Taxes (PILOT) increased last year by 30 percent, about $845,000, and this year’s municipal budget anticipates another increase of 26 percent, or almost $720,000.
Continue reading A closer look at PILOTS in 2024 municipal budget
Two downtown developments of more than 300 units recently secured refinancing.
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.
Happy New Year everyone. Here’s a review of the top 10 most popular posts on RahwayRising.com during 2020:
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
City Council extended a Payment In Lieu Of Taxes (PILOT) from 15 to 30 years for Metro Rahway, a 116-unit building on Campbell Street.
Recent downtown development projects have a mixed bag when it comes to reaching Payments In Lieu Of Taxes (PILOT) levels anticipated in their original financial agreements.