Tag: Long-term tax exemptions

NJ Senate Committee Advances Bill to Amend PILOT Process

New Jersey lawmakers are currently considering legislation that would increase oversight over local tax abatement agreements. Senate Bill 1701 aims increase transparency regarding payments in lieu of taxes (PILOTs), particularly with respect to how they impact school funding.  As previously discussed in the Scarinci Hollenbeck Government & Law Blog, many New

NJ Appeals Court Affirms Broad Power of State Comptroller

NJ Senate Passes Long Term Tax Exemption Bill

The New Jersey Senate recently passed legislation that would make significant changes to the state’s long term tax exemption law. Notably, the bill would require applicants and municipalities to prepare cost-benefit analyses regarding the impact of a proposed long term property tax exemption. The bill (S-1991) would specifically require a

NJ Assembly Committee Advances PILOT Legislation

NJ Assembly Committee Advances PILOT Legislation

The New Jersey Assembly is currently considering legislation that would impose new obligations on municipalities that grant long-term tax exemptions. Under the proposed bill, cities and towns would be required to share funds collected under payment-in-lieu-of-taxes (PILOT) agreements with school districts. As we have previously discussed on the Scarinci Hollenbeck