The PILOT, formally known as the Casino Property Tax Stabilization Act, doesn’t seem to lend much legal support to Straub’s suit.<\/p>\n
\nThe legislation, which became effective in 2016, defines a casino gaming property as “one or more parcels of real property located in Atlantic City, and any adjacent property utilized in connection with such property, upon which there is located a facility licensed to be used for casino gaming in 2014 or thereafter, whether or not in actual operation.”<\/strong><\/p>\n<\/blockquote>\nRevel closed in September of 2014 after just over two years in operation.<\/p>\n
PILOT Opposed Outside AC<\/b><\/h2>\n
While Straub is challenging the merits of TEN’s inclusion in the PILOT program, others, primarily those outside Atlantic City, believe the tax scheme violates the state’s constitution. That includes Atlantic County Executive Dennis Levinson (R) who said earlier this year that PILOT works for the casinos at the expense of area residents.<\/p>\n
Levinson, whose son Matthew heads the Casino Control Commission, has sued to cancel the PILOT arrangement. Governor Chris Christie originally promised Atlantic County that it would receive 13.5 percent of the PILOT proceeds, but backtracked on that earmark after he felt Levinson’s administration didn’t do enough to aid Atlantic City.<\/p>\n
\n“My deal with the Atlantic County executive was that he would get 13.5 percent if the county was an active participant in helping to reform Atlantic City. What services has he stepped up and said he’s willing to run?” Christie asked.<\/strong><\/p>\n<\/blockquote>\nFacing a countywide tax increase, Levinson and Atlantic County will get its day in court to argue against PILOT next month.<\/p>\n","protected":false},"excerpt":{"rendered":"
Glenn Straub, the Florida-based real estate developer who doesn’t like to play by the rules in New Jersey’s Atlantic City, has sued the state on grounds that his shuttered Revel property shouldn’t be required to participate in the Payment in Lieu of Taxes (PILOT) program. PILOT requires that Atlantic City’s casinos collectively pay the city […]<\/p>\n","protected":false},"author":42,"featured_media":61632,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,60,13,18],"tags":[],"acf":[],"yoast_head":"\n
Glenn Straub Sues New Jersey, Wants Revel Excluded From PILOT<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n