All will be eligible to get off the tax rolls and instead make special deals with the administration for “payments in lieu of taxes”.
All could become exempt from paying school tax, county taxes.
Click on images to enlarge.
(Dr. Clinton Ives owns the train station. He charges NJT $1/year rent.)
13 Comments
What does work out their own deal mean ?
The owner/developer works out a payment agreement with the town instead of paying taxes. Barry DePeppe has a few of these agreements with the town and pays no property tax for those buildings.
What’s basis behind this . Doesn’t make sense for town that is in debt as much as Belmar ?
Redevelopment law was originally conceived to fight urban blight but is now used as just another power grab.
Why? Why would we want less taxpayers? This would lead to a tax increase for the rest of us?
more redevelopment areas = less money for Belmar public education.
The public school tax burden is shifted to regular property taxpayers.
Can we fight this , we already have referendum scheduled .
are some of these residential properties and if so how do they qualify?
In the zone. If someone wanted to knock them down and put up a commercial/residential building they would qualify.
The business zone is too large and should be completely revisited
Can we fight this , we already have referendum scheduled .
If a developer desiderate to take the “DEAL” is there a time limit associated with the completion of the project? In other words if the job isn’t totally completed by X Time does the tax holiday continue forever? I recall a certain 12th Avenue hotel never being finished, bankruptcy, unpaid water/sewer, etc
I am suprised the Home by Summer house isnt on there
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