P.I.L.O.T. means ?”Peanuts In Lieu of Taxes” ?for Atlantic City casinos. Under this plan proposed by Steve Sweeney Democrats and Chris Christie Republicans, the big corporations who own the most valuable and profitable properties in Atlantic City–the casino hotels–will pay a lot less and every other property owner in the county will pay more–a lot more. ? It spits in face of Article 8 of NJ State Constitution which requires that all real estate “be assessed at same standard of value and taxed at general rate of taxing district”. Even NJ’s original charter from King Charles II in 1664 required all properties to be taxed at the same rate. ? ?Even then, people in New Jersey did not want politicians taxing their rich and power friends at a lower rate than everybody else. ?
If Atlantic City taxes are too high for casinos, the solution is to cut debt and spending so everybody pays less. ? If the richest and most powerful people in New Jersey have to pay the same high taxes as the rest of us, maybe they will work with us to get them under control.
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