Dan,
Good point. That article I posted seemed to use all three
interchangeably. Can you tell by the article which one Long Branch
is? Could it be a combination of all 3?
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> --- In AsburyPark@yahoogroups.com, "bluebishop82"
<[EMAIL PROTECTED]>
> wrote:
> > JJ: See below. I thought LB was tax abated. Did this change?
>
>
> People use tax abatements and exemptions interchangeably, however,
> they are not the same thing. An exemption is calculated by
exempting a
> portion of the assessed value, while an abatement is an amount
> directly credited against your tax bill. While they both try to
> achieve the same end, they are not the same. Also, I find it
somewhat
> ametuerish that purportedly knowledgeable people use exemptions
and/or
> abatements with PILOT. PILOT are payments in lieu of taxes when
the
> property is TOTALLY EXEMPT from conventional taxes. That's like
the
> WTC and Times Square both situated on state property, thus exempt.
>
> While I am nitpicking, I think it is telling that some dealing
with
> this don't have a complete grasp of the concepts.
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