Princeton U Settles Tax Dispute For $18.2 mil

Princeton University has agreed to pay $18.2 million over the next several years to settle claims brought by a group of local residents that the university was improperly claiming property tax exemptions on facilities that actually are used as money-making enterprises.

The university announced the settlement, which will end five years of litigation, on Oct. 14. A trial had been scheduled to begin Oct. 17 in New Jersey Tax Court.

The settlement funds will be used to defray property taxes of local residents, which run an average of $16,000 a year, and to help provide housing for the town’s poorer residents, the university said in a statement.

The university will pay $2 million this year into a fund to be established to lower property taxes, and then $1.6 million a year for the following five years, according to the statement.

More HERE

 


Here are some other tax appeal sites I found for you to browse. Thanks for visiting njpropertytaxappeal.net.

Princeton U Settles Tax Dispute For $18.2 mil
Princeton U Settles Tax Dispute For $18.2 mil
My property tax is too high. i purchased my condo for $102000 and ...
How to appeal property tax and house value assessments - MSN ...
Ruling Lets Atlantic Yards Seize Land - New York Times
Eugenio Corbeau on HuffingtonPost
Rising revenue ups pressure to undo budget cuts - USATODAY.com


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