City Council unanimously adopted the 2022 municipal budget during a special meeting held via Zoom on July 28 that’s expected to decrease the municipal portion of property taxes by about $3 on the average home.
Tag Archives: PILOT
A closer look at PILOT revenue in 2022 budget
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
PILOTs in the 2021 budget
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 OKs Brownstones amendment
City Council approved changes to the redevelopment agreement for Meridia Brownstones, setting a new development schedule for the project’s next phases.
Top posts of 2020
Happy New Year everyone. Here’s a review of the top 10 most popular posts on RahwayRising.com during 2020:
PILOTs in the 2020 municipal budget
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
Council extends PILOT for Metro Rahway
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.
A closer look at PILOTs
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.