Please note that data are cataloged by fiscal years -- you can switch to different years using the links below. For more info see our user guide.
New Jersey 2019 Revenue Lost to Tax Abatement Programs
Population in 2019 : not available
Concerned about the lack of disclosure? We have created institutional schematics for the implementation of GASB Statement No. 77 on Tax Abatement Disclosures in the 50 states and DC: Learn who's in charge of compliance in our ROADMAP PROJECT. You can also get a CSV file of the localities in NJ that did not make any tax abatement disclosures in their annual financial reports.
Click on the name of a program for more details.
|Program Name||Program Type||Revenue Loss|
|Angel Investor Tax Credit Program||Technology; entrepreneurship||$7,700,000|
|Business Employment Incentive Program||Job creation/retention||$50,840,000|
|Business Retention and Relocation Assistance Grant Program||Business incentive||$0|
|Economic Redevelopment and Growth Program||Debt service||$34,379,000|
|Grow New Jersey Assistance Program||Job creation/retention; capital investment||$119,445,000|
|Public Infrastructure Projects||Public infrastructure investment||$0|
|Technology Business Tax Certificate Transfer Program||Small businesses||$60,000,000|
|Urban Transit Hub Tax Credit Program||Transportation||$35,972,000|
|TABULATED STATE-LEVEL TOTAL||$308,336,000|
Tabulated localities and districts
Click on the name of jurisdiction for a list of tax abatement programs that reduced its tax revenue.
Local government reporting rate
We estimated the reporting rate among local governments for each state using 2018 and 2019 data. This is to gauge how much data is available in that state.
For New Jersey, the estimated reporting rate is as follows:
Cities/counties: 26 out of 57 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
School districts: 118 out of 597 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.