New Jersey S1807 requires municipalities to share certain payments in lieu of property taxes with school districts and informs counties, school.
New Jersey S1807 revises laws governing property tax exemptions. It mandates that municipalities share certain payments in lieu of property taxes (PILOTs) with school districts, unless the municipality has entered into an agreement with an urban renewal entity and school districts to provide special projects. The bill also requires municipalities to inform counties, school districts, and the Department of Community Affairs (DCA) when considering and approving property tax exemptions, and when entering into negotiations for agreements with school districts and urban renewal entities.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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