Jersey City Must Refund $2M From Tax Abatement Deals
Law360 (August 9, 2018, 4:06 PM EDT) -- A New Jersey state appeals court on Thursday handed down a mixed ruling to Jersey City on its conditions for awarding tax abatements for building projects, saying the municipality was wrong to demand a $2 million prepayment of anticipated service charges but right to collect about $710,700 in affordable housing contributions.
In a published opinion, a three-judge appellate panel affirmed a trial court ruling that required Jersey City to refund the $2 million to three related development entities after finding "no statutory support" under the state's Long Term Tax Exemption Law for the city to condition the tax breaks on that...
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