A Republican lawmaker (and a GOP frontrunner Ted Cruz made bacon on a gun today in his bid to show he's ready to lead) has called Jersey City's lost $80 million in downtown tax credits as "crony capitalism."
Assemblyman Jack Ciattarelli, R-Somerville, said the $80 million lost in Jersey City property taxes is unfair to the rest of the state's taxpayers, who fund a large portion of the city's school district.
Jersey City's schools are pretty much in state receivership and the Assemblyman makes a good point, up to a point. As much as Johnny wants to call this crony capitalism or as he's mentioned before, while these downtown deals walk the line of patronage there's another part of the equation needed to prove it. Still, it's not right. Said Ciattarelli, "Short-term property tax abatements, under very special circumstances, may have their place. What's happening in Jersey City and elsewhere is crony capitalism at its worst and an injustice to all New Jersey taxpayers."
Now of course the current Fulop Administration, clearly spooked by this tax revelation and the Assemblyman's contentions, in their responses try to have it three ways. First this was all Healy's idea. He did most of what Steve Fulop thus far has been taking credit for at ribbon cuttings and what not. Sticky wicket indeed Then, not so much is being lost as the PILOT payments are spread around Yada yada zzzzzzzzz. Right, which is why schools suffer so:
The city keeps a large share of PILOTs but it splits normal property tax revenue with the county and the school district.
So Jersey City tax breaks we all pay for in the long run go to the county. Perfect. Just where they should go, riiiight? Where does that money go?
That third way? Throwing up your hands when your candidates don't win and stop worrying about the schools.
Anyway you slice the city's hackneyed response to Assemblyman Ciattarelli's claims it hurts because it's mostly right.
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