Thursday, August 8, 2019

Atlantic City's County Tax Increase Explained

FACT:            
The county amount to be raised by taxation in Atlantic City DID NOT INCREASE, but instead has DECREASED by $1.4 million.

FACT:            
Atlantic County credited Atlantic City more than $78 MILLION over 11 years that ended with the PILOT legislation.

FACT:            
The tax credit to Atlantic City DECREASED by $6.9 MILLION in 2019, a decrease of 96%.

FACT:            
Atlantic County COLLECTS LESS from Atlantic City’s non-casino taxpayers, but the city pays more because its tax credits have decreased as a result of the PILOT.

FACT:            
The PILOT REMOVED $3 BILLION from the tax base.

FACT:            
The PILOT EXEMPTS THE CASINOS from the tax increase that must be paid by ALL ATLANTIC CITY NON-CASINO property owners.

FACT:            
Atlantic City was the ONLY ONE of the 23 municipalities to support the PILOT. Atlantic County and the bipartisan Mayors Association did not support it, and sued in Superior Court and won a settlement of more than $30 million.

FACT:            
Atlantic County cautioned this “DAY OF RECKONING” would come and warned city and state officials to PREPARE FOR IT.

County News