thebruns t1_je11llz wrote on March 28, 2023 at 5:18 PM

Reply to comment by jersey-city-park in Tenants Fight Back As Rents Soar In Jersey City And Hoboken by mad_dog_94

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

jersey-city-park t1_je13dls wrote on March 28, 2023 at 5:29 PM

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 on March 28, 2023 at 5:38 PM

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 on March 28, 2023 at 6:21 PM

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 on March 28, 2023 at 6:25 PM

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: https://civicparent.org/2021/07/26/jersey-city-2021-budget-160-abatements-on-citys-books-visualizations-on-abatement-type-value-pilots-and-taxes-if-billed-in-full/

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 on March 28, 2023 at 6:26 PM

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.