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t1_iyavrz9 wrote

And if you use PILOT program for pretty much any other development other than residential multi family properties, offices, industrial or retail tax revenues not going to school budget really has no impact since they aren’t creating additional costs by sending kids to the school like Multifamily properties. That’s unless you fall for ever developers pitch that no kids live in apartment buildings and they are just millennials wanting studio apartments

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t1_iyawjxv wrote

Drifting wood… not sure where you got your facts from. 10% of Pilot payments go to schools not 0%. https://www.nj.com/hudson/2017/04/jersey_city_will_share_tax_abatement_revenue_with.html The reason that Pilot payments were sometimes higher than what would be paid normally was because JC maintained a low regular property tax rate. (Other than the last two years.)

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t1_iyax36z wrote

Fulops executive order only applies to future abatements. Hence my comments about us paying the price for years (decades really) of financial mismanagement. For school tax revenues that is. Not the municipal budget which receives the PILOT revenues

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