What you need to know when negotiating tax
abatements.
tax
rate
%
county
tax .530
13.03%
county health
tax
.010
.25%
county open space
tax
.033 .81%
sub-total .057 14.09%
District school
tax
1.253 30.79%
Local municipal
tax 2.243 55.12%
Total 2004 General Tax Rate
4.069
100.00%
(per hundred of assessment)
Tax assessor
office City Of
Asbury Park July 29,2004
Would you offer 50% tax abatement? Ocean
front? Would you copy the City of Long Branch Plan? Did Asbury Park
change city tax lawyers recently? Was this lawyer sick or replaced?
Something that offers taxpayers relief? Once condos reach a certain
price, tax abatements are capped.
Hint
Local municipal
tax 2.243
55.12%
At 50% what happens to the other
5.12% Somebody please
explain
Is the developer is asking for adjustments for proprieties where the
buildings where torn down? Come to the council meetings. Ask
questions?
Will the Hotel Gardner (total assessment value $431,800) be torn
down? Do you want to pay for this $17,531.00 tax
ratable lost.
Do you know if Asbury Park will be fiscally solvent in
2005? Will a revalue kick in? Taxes up?
Come to the council meetings. Ask
questions?
