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 2020 Revenue Lost to Tax Abatement Programs
Click on the name of a program for more details.
|Program Name||Program Type||Revenue Loss|
|Business Employment Incentive Program (BEIP)||Technology; Job creation/retention||$45,860,000|
|Business Retention and Relocation Assistance Grant Program (BRRAG)||Business attraction/retention||$5,922,000|
|Economic Redevelopment and Growth (ERG) Program||Business attraction/retention||$62,523,000|
|Grow New Jersey Assistance Program (GROW NJ)||Job creation/retention||$133,126,000|
|Public Infrastructure Projects; Film and Digital Media Tax Credit Program; Angel Investor Tax Credit Program||Infrastructure; Film, TV, and/or media; Capital investment||$2,380,000|
|Technology Business Tax Certificate Transfer (NOL) Program||Technology||$60,000,000|
|Urban Transit Hub Tax Credit Program (HUB)||Capital investment||$86,454,000|
|TABULATED STATE-LEVEL TOTAL||$396,265,000|
Tabulated localities and districts
Click on the name of jurisdiction for a list of tax abatement programs that reduced its tax revenue.
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: 121 out of 562 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
Concerned about the lack of disclosure? Check out the roadmap on GASB 77 compliance we created for NJ. 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.
Local government / school district financial audits are posted here.