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thebruns t1_je11llz wrote

Dont most of the large buildings have 30 year tax exemptions?


jersey-city-park t1_je13dls wrote

Yes and no. Long story short JC hasnt given out a tax abatement since 2016, terminated some abatements agreements in 2020, and most vary in length from 5 years to 30


el_tigrox t1_je14ydt wrote

Some claim it, others have it. A lot of the newer buildings don’t have tax abatements partly because Fulop and others worked to stop the practice in some parts of the city.

All I know is Equity Residential has been caught lying about Portside Towers and they continue to be antagonistic to anyone that questions them in their buildings.


JeromePowellAdmirer t1_je1bqvp wrote

What is this? A pair of comments with actual facts about the city tax abatement program instead of randomly generated nonsense? Mind blown


el_tigrox t1_je1cgdx wrote

Human checking in! You can actually look at tax abatement data and information here - it's a couple years old, but will give you a good look at what's out there:


So if your building claims that they are raising because taxes went up - double check here to make sure that's true!


JeromePowellAdmirer t1_je1cmh4 wrote

The "taxes" excuse is the laziest one the apologists have. For some reason they never seem to explain why landlords in places the taxes didn't go up also raised rents.