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Council renews citywide 5-year tax-exemption authority and OKs abatement for 38 Jackson Street grocery space
Summary
The council reauthorized the municipal five-year tax exemption and adopted a separate ordinance approving a tax-exemption agreement for the grocery tenant space at 38 Jackson Street; proponents said the abatement is intended to attract a grocer to southwest Hoboken.
The Hoboken City Council voted to readopt the five-year exemption and abatement law and approved a separate tax-exemption agreement tied to Block 6, Lot 1 (38 Jackson Street) during Thursday's meeting.
During public comment, residents asked how many properties will be eligible for the 5-year exemption and expressed concern about whether abatements primarily benefit developers rather than ordinary taxpayers. "If we go for 08/20... Do we really need to have all these tax abatements?" Rosemarie Markle asked, adding that school taxes appear unaffected by such abatements.
Council members and staff clarified the two-step process: one…
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