Wednesday, November 18, 2015

How are those downtown abatements looking NOW?

Here comes the reval, something that has been kryptonite for Jersey City mayors since 1988. Before he even became Mayor Steve Fulop canceled the contract of a company by his own admission was 95% complete with it. He cut them off and stopped payment on the check.

Reval, where the Jersey City real estate gets reassessed at going rates, and how just about anything over three floors in the downtown area has come after 1988, well you can see the mayor shitting himself as he comes back from a Governor wannabe convention down in Atlantic City yesterday. Downtown Jersey City is gonna get hit and hit hard.

Right now there needs to be a hold on ANY vote to give abatements to Jersey City developers until AFTER the reval. We're going to need that money. The 100 million (rough estimates) left off the tax rolls downtown already are gonna crush the numbers as to what taxpayers pay.

The time to put the nuts away for winter is now (well it was 5 years ago but DUH) and stop the giveaways.

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