Without comment from the public or its members, City Council on Monday night unanimously adopted a 20-year Payment In Lieu Of Taxes (PILOT) for The Gramercy.
Continue reading City Council approves Gramercy 20-year PILOT
Tag Archives: taxes
Gramercy PILOT would shave $100k off tax bill
A proposed PILOT for The Gramercy would stipulate an annual fee of $78,000, about twice as much as the properties currently generate in taxes but about $100,000 less than what the completed project might pay.
Continue reading Gramercy PILOT would shave $100k off tax bill
A closer look at 2016 municipal budget
Three new Payments In Lieu Of Taxes (PILOT) to the city and higher foreclosure registry fees should boost city revenues by some $652,000 in the 2016 budget.
30-year PILOT considered for The Gramercy
The developer of a 43-unit East Cherry Street project has requested a 30-year Payment In Lieu Of Taxes (PILOT) to be considered by City Council.
City Council introduces 2016 municipal budget
Municipal taxes would rise by about $39 on the average property under a municipal budget introduced by City Council.
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Industrial property wins tax appeal again
An Elston Street industrial property won another round of tax appeals, this time for the tax years 2014 and 2015, resulting in about a 22-percent refund on its property taxes.
Essex Street industrial property wins tax appeal
An Essex Street industrial warehouse on the outskirts of downtown won a tax appeal totaling about a quarter of its tax bill for two years.
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Rahway among towns challenging its hospitals
Rahway is among a dozen towns in the state challenging the amount of the property tax-exemption of hospitals within their borders.
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