Atlantic County Officials Require Financial Relief for Taxpayers

DespitethefactthatAtlanticCityauthoritiesaretryingtheirbesttoprovidethestrugglingcasinosaswellastheunemployedcasinoworkerswithrelevantcompensations,theirdecisionsmettheoppositionoftheAtlanticCountycommunities。

AccordingtoAtlanticCountyrepresentatives,thefinancialaid,intendedtohelptheremainingcasinos,isdefinitelynotbeneficialtothetaxpayerssotheyrequiredtheAtlanticCityauthoritiestoreconsiderhelpingthemalongwithrelievingtheproblematiccasinos。

LastTuesday,Dec。

30th,theBoardofFreeholderspassedaproposalandrequestedtheLegislaturetomakesurethatthedecisionforhelpingthecasinoindustrydoesnotharmthetaxpayers’well-beingandtheirfinancialconditionisgivenadecentamountofattentionwhenitcomestotheimplementationofareliefbill。

Mereweeksago,NewJersey’sgamblingofficialsannouncedthattheeightremainingcasinosontheterritoryofAtlanticCitywillbeallowedtopaysmallerannualtaxes。

However,AtlanticCounty’sBoardofTaxationraisedthequestionaboutthetaxeshomeandbusinessownerswillbesupposedtopay。

Theyconsiderthetaxrelief,providedtothecasinos,tobeakeyfactorforincreasingthetaxespaidbytheresidentsofAtlanticCounty。

Accordingtotheresolution,senttotheLegislature,anytaxreliefprovidedtothecasinoindustrywouldseverelyaffectthelocalresidentsandbusinessownersunlesstheyareequallycompensatedorinotherwords,providedwithparticulartaxreliefalternatives。

TheassemblymanChrisBrownissaidtobeinchargeofintroducingabill,supposedtoprovidelocalresidentsandbusinesseswithataxrelief。

Nevertheless,theboardhasnotbeennotifiedforsuchaproposalyet。

OnceBrownintroducestheproposal,thetaxesAtlanticCityresidentsareobligedtopay,willremainthesameforthenextfiveyears。

Inotherwords,alltaxableproperties,includingcasinos,willpaythesameamountofmoneytheypaidin2014,until2020。

ThechangeisbelievedtohelpAtlanticCityfinancialmattersandcasinosinparticular。

ItisimportanttonotethattheproposalthatistobeintroducedbyBrownhasnothingincommonwiththetaxesprogram,presentedbySteveSweeney,theSenatePresident。

AccordingtoBrown,Sweeney’sproposalisnotgoingtoprovideAtlanticCounty’sbusinessesandresidentswithanybenefits。

Onthecontrary,itisbelievedtobeprettyunfavorable。

WhilethebiggerAtlanticCity-basedvenueswillreceiveataxreliefamountingto$10millionperyear,theownersofpropertiesinthecountywillhavetopaysignificantlyhighertaxes,which,insomecases,couldreachupto$9millionannually。

You may also like...