Atlantic County Reaches Deal with State on PILOT BillLast Edited:
Atlantic County officials say they have reached a deal with the state on the PILOT (Payment in Lieu of Taxes) bill.
Atlantic County officials say they were originally promised 13.5-percent from Atlantic City's casino payments, but after the Casino Property Tax Stabilization Act was proposed at the state level, they were told they would be getting 10.4-percent, leaving it up to the taxpayers to make up for the difference.
The county filed suit against the State of New Jersey, challenging the PILOT bill, which would have caused a $4 million shortage.
On Wednesday, May 9th, Atlantic County officials announced that with help from Governor Phil Murphy, a settlement was agreed upon that provides the original 13.5-percent to the county.
The county is now waiting on the final paperwork before releasing its official 2018 budget.
SNJ Today is a Southern New Jersey news and information source that is dedicated to providing current stories related specifically to South Jersey.
Do you have community news or events? Email firstname.lastname@example.org, text SNJNews to 313131, or call 856.825.NEWS (6397).