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.
State:
New Jersey
Reporting Jurisdiction:
Clifton School District
Jurisdiction type
:
School district
:
Fiscal year ending In:
2019
Program name:
Long Term Tax Exemptions; Senior Citizen Nonprofit Rental Housing
Program purpose:
Rehabilitation; Affordable Housing
:
Statutory authority:
Long Term Tax Exemption Law (NJSA 40A:20 et.seq.); Senior Citizens Nonprofit Rental Housing Tax Law (NJSA 55:141-1)
:
Abating jurisdiction(s):
City of Clifton
:
Applicable taxes:
Property Tax
Method of abatement:
Payment in lieu of tax
:
Provisions for recapture:
(not specified)
:
Gross revenue loss:
$1,776,318
:
Reimbursement / offset:
$0
:
Net revenue loss:
$1,776,318
:
Type of loss:
Passive
:
Additional notes on dislosure:
Gross/net revenue losses are the sum of abated taxes from both programs.
