Archive for Tag: property tax exemption

Wirths bill allowing long-term tax exemption for low-income housing advances

TRENTON, N.J. –The Assembly voted 77-0 to advance a bill (A2536), sponsored by Assemblyman Hal Wirths, to allow municipalities to accept payment-in-lieu-of-taxes for state or federally-subsidized low-income housing beyond the term of the housing project’s mortgage. The town of Sparta established such an agreement with a low-income senior housing...

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