To the Editor:
When real estate developers pay less than their fair share in property taxes, the rest of us pay more than our fair share in property taxes to make up for the lost revenue.
The Great Hopewell Township Corporate Give-Away just got even greater if you are multi-billion (that’s with a “B”) dollar corporate real estate developer US Homes Corporation, also known as Lennar, also known as US Homes at Hopewell Urban Renewal, but not so good for you if you are a Hopewell Township taxpayer.
Call it the Township Give-Away that the Township Committee just keeps on giving-away.
At the Township Committee meeting, on Monday, July 30, Mayor Kuchinski’s Democrat majority, with Republican John Hart dissenting, voted to give a property tax break to the real estate developer of the Zaitz Tract behind ShopRite. For the first 5 years of their 30 year property tax break, the developer will be required to pay only 66 per cent of their fair share of property taxes. For the next 5 years, they pay only 75 per cent of their fair share of property taxes. Then, for the next 20 years, they still do not pay their full fair share of property taxes by receiving a one-half of one per cent tax break.
Previously, in December, 2017, Mayor Kuchinski signed off on selling the Zaitz Tract, which was purchased by the township for over $5 million, to U.S. Homes for $24,000. While it sounds unbelievable, you may read the “AGREEMENT FOR PURCHASE AND SALE OF REAL ESTATE by and between TOWNSHIP OF HOPEWELL, a Municipal Corporation of the State of New Jersey, Seller or Township, And U.S. HOMES CORPORATION D/B/A LENNAR, a Delaware corporation, Purchaser,” dated December 11, 2017, for yourself on the township website.
Reminds me of Native Americans selling Manhattan Island to Peter Minuit for $24.00 worth of trinkets, but at least they did not give the Dutch a tax break.
Harvey Lester, Titusville, NJ