« Return to search form

Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNew Jersey
Effected JurisdictionJersey City
Jurisdiction type: Municipality
Fiscal year ending In2022
Program nameVarious Tax Abatement Agreements
Program purpose: Urban Renewal
Statutory authority: Long Term Tax Exemption Law, N.J.S.A. 40A:20-1 et seq.
Abating jurisdiction(s): Jersey City, NJ
Applicable taxesProperty Tax
Method of abatement: Tax Abatement
Provisions for recapture: (not specified)
Gross revenue loss: $108,894,652
Reimbursement / offset: $104,882,151
Net revenue loss: $4,012,501
Type of loss: Active
Additional notes on dislosureReported in Jersey City CAFR. The city claims that it did not lose any revenue because it raised taxes to cover the abated amounts.
Document sourcehttps://cdnsm5-hosted.civiclive.com/UserFiles/Servers/Server_6189660/Fil...