Neighbor News
I build, I pay. Why don't they?
Cranford approves long term property tax exemption for Birchwood Developer.
On April 10, I witnessed my Townships approval of a long term tax exemption to Birchwood Developers, a private LLC who will be building 225 apartment units in Cranford. The tax exemption is also known as a PILOT, an acronym for Payment In Lieu of Taxes.
Birchwoods Payment In Lieu Of Taxes is based on only 11% of income generated from their future active rentals. Is there a minimum payment in the event that they do not succeed in filling 225 apartments? Will Birchwood's Payment In Lieu Of Taxes support the burden of sending ALL of their school aged occupants to Cranford schools? The appoximate cost of sending one pupil to school for a year is approximately $20,000.
I am a small business owner and homeowner who paid $14,694 in 2017, and it is being raised in 2018 because I have chosen to improve my property. My opinion is that everyone should pay equally and accordingly for what they choose to build, especially when what they choose to build is guaranteed increase the amount of students entering our public schools.
