Goya Tax Abatement
Attack on Tax Increase
Stormy Hearing over Tax Increase
Hundreds Protests
Question the need for a Revaluation
Revised Tax Deal for the Old Medical Center
Crystal Point Abatement
Crystal Point Ad
Journal Square
Editorial on Abatement
1 to 4 Families Pay the Taxes
Taxes have risen 84.87%, really 85% in five years in Jersey (2005-2010) on the municipal portion. But this tax increase only affects the 1 to 4 property owners. It has no impact on senior citizens buildings, rent-controlled properties, or luxury waterfront properties with their tax abatement. Public housing has not paid any taxes, not even abated taxes since the early 1960's. Public housing has a special deal that allows the deduction of water and other utilities before the city is paid. When those costs increased, the city stopped receiving revenue.
Elected politicians count on voters who are not burdened by taxes to get elected. If they pack the city with affordable or abated luxury housing, politicians can ignore the small owners who pay full taxes. Our government would be out of business if everyone who is a voter is affected by property taxes. While everyone has the privilege to vote, not everyone is saddle with the burden of paying for local school, or county government.
Why Abatements Hurt Taxpayers
The county, not the city strikes the tax rate. The city's ratable is $5.9 billion. An abatement is not part of the ratable. $2.6 billion is exempted from the ratable base that is not school, public, or church properties. These abated properties are a combination of luxury, commercial, and affordable housing. Since taxes are services, no one should be exempted especially since everyone is given the privilege of voting. Taxes would be lowered for everyone if the $2.6 billion were added to the ratable base.
Bonding Debt
Jersey City has $913 million in gross bonding debt. Part of that is $66 million for water debt. United Water makes the profit, but the public pays the bills. United Water contract should not have been extended.