https://www.abouttanzanitejewelry.com/news/new-jersey-lawmakers-waiting-on-atlantic-city-tax-plan/ Latest Casino and Gaming News Wed, 11 Mar 2015 17:01:45 +0000 hourly 1 https://wordpress.org/?v=6.4 https://www.abouttanzanitejewelry.com/news/new-jersey-lawmakers-waiting-on-atlantic-city-tax-plan/#comment-1250 Wed, 11 Mar 2015 17:01:45 +0000 https://www.abouttanzanitejewelry.com/news/?p=27806#comment-1250 The bill has a big flaw. It only includes 8 casinos currently open. New casinos coming online would not be part of this bill and instead be subject to the high property tax cost that has doomed AC. Examples would be the Revel and the Chelsea. So although it stabilizes AC, it could be improved upon by having the total pilot amount stay the same but each individual casino PILOT amount adjusted annually based on all the casinos including new casinos that open in AC. If more casinos came in, it would lower each casinos PILOT tax amount encouraging growth, investment and jobs in AC. Hopefully, they can modify it. Otherwise, just appeal the property taxes annually. Borgata got an $80m plus refund from a tax appeal. Property taxes are still too high even with appeals though.

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