Thread by @CivicParent

1/ FYI: @JC_Gov Tax Base value now $34B, post-Reval (note: this excludes abated property). 2018 tax levy of ~$125M assumed a base of about $29B.
Applying same rate on $34B = $136,000,000. @JerseyTogether UFB is here: cityofjerseycity.com/UserFiles/Serv…
@stateaidguy @CouncilmanYun

2/ I don't understand Abatements data-doesn't make sense to me. Will call Tax Office tomorrow to inquire. Tab 6 Abatements still has $2.7B, which was pre-Reval (24% ratio) value. Monaco North building alone is still valued at $20M - same value it had in 2015. @Civic_JC

3/ Here's the "Assessments" summary from "UFB-5 Tax Assessments" tab and it shows summary of Tax Base (on left). On Right shows exempt properties incl "Other Assessments" at $11B. That's presumably the abatements (that makes sense for post-Reval value). @EllenXSimon @cjkovach16

4/ The $20.2B on Right side of spreadsheet is property in Jersey City that doesn't contribute to the school tax levy. Some of that is typical exempt property (public bldgs, religious buildings, graveyards, etc).

5/ The $11.97B in 15-F "Other Exempt" is abatements (may be other stuff mixed in...but majority if not all likely abatements). So 11.97B in property x 0.4% current school tax rate = $47.8M in school tax NOT being paid by these properties. This instead is money the city is getting

@JC_Gov @JerseyTogether @stateaidguy @CouncilmanYun @threadreaderapp #unroll