And then the people who already own houses and condos get screwed-
here's how. A 2 br 2 bath unite in North Beach just sold for about
$380,000 I think. So, us owners of similar units not in a brand new
ocean front building have to price way under that to sell. Now, if the
city further abates taxes and the builders abate maint, crap! our
values just dropped from say 350-370 to 2 something bc we don't have
abatements on either
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "oakdorf" <oakdorf@> wrote:
> >
> > MORE TAX ABATEMENTS- here's how.
> >
> > Basis for this.
> >
> > Within the redevelopment zone, the city is supposed to receive
> > payments of up to I thought around $SEVEN MILLON as new units were
> > constructed (sold and occuppied). I think the city received around
> > one or two million so far. Not sure what the next mark was for
> > payment. I think Dan or Werner may recall.
> >
>
> The 500th or 600th C of O. Taxes on the other hand are not paid until
> the units are SOLD.
>
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