AC Casino Tax Appeals To Increase Residential Tax

Posted by Peter Jordan in new jersey tax appeals , onMay 24, 2012

As witnessed in AC, as more commercial industries file assessment appeals, tax burdens will by necessity shift to residential homeowner's to compensate for resulting budget shortfalls.

Will homeowners also experiences a curtailment of local services?

That's almost guaranteed.

From The Atlantic City Press:

City Council agrees to lower Atlantic Club's assessed value by $378 million
Press of Atlantic City
That brings Atlantic City's ratable base down to $17.7 billion from $20.4 billion, a drop during the past year or so of $2.7 billion, or 13 percent, due to tax appeals. As a result, other property owners will pay a higher proportion of the tax levy …
Can Revel Save Atlantic City?The Atlantic Cities

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