Jersey City, We Have A Problem.

Jersey City has been estimating the cost of its abatements incorrectly for at least eight years, and the impact to conventional taxpayers could amount to millions of dollars. Here’s the problem: Jersey City has been under-counting the number of (a) residents and (b) public school students that will eventually live in each abated building.  The City has been using … Read more

What Does 1.88 Students Look Like?

On Wednesday night, the City Council approved an 80-unit abatement in downtown Hamilton Park.  Here are some of the specs on the property: located at 9th & Brunswick in downtown Hamilton Park a community the abatement will extend for 20 years contain 80 units, including 20 3-bedroom units and 35 2-bedroom units 1.88 kids from the building will attend the … Read more

Tax Abatements 401: The Transparency Issue

In his 2010 report, “A Programmatic Examination of Tax Abatements,” NJ Comptroller A. Matthew Boxer highlighted numerous weaknesses with abatements.  One issue he touched upon was transparency.  He stated, “Information concerning abatement[s]…is not published in a transparent manner or centralized location, making it difficult to impossible for the public to compare, calculate the effect of, … Read more

Tax Abatements 101: A Basic Overview

Mayor Fulop signed his abatement policy into effect by executive order on December 24, 2013.  The policy was a clear departure from his campaign pledge, which included the promise to allocate abatement revenue to a “dedicated, non-discretionary account for education funding.”  This prompted me to question: how effective is the new abatement policy, and what impact will it have … Read more