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.
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