Atlantic County Executive Dennis Levinson wants to change how casinos pay their taxes again.
After 10 years of casinos making payments in lieu of taxes, Levinson said casino properties should be taxed through a traditional assessment program, as they were for decades before the PILOT was developed.
The comments come as current PILOT legislation is set to expire this year. The original PILOT, approved in 2016, stabilized city finances at a time when the resort faced potential bankruptcy.
“The original PILOT was enacted to stabilize Atlantic City’s finances and reduce costly casino tax appeals. By all accounts, the city’s financial health has improved with consecutive tax reductions and bond rating upgrades to investment levels. In that respect, the PILOT has completed its job,” Levinson said during his county’s budget address Tuesday. “
