The looming appeals was a leading reason New Jersey Governor Chris Christie (R) and the state legislature decided to take control of Atlantic City’s finances. The former presidential candidate said Mayor Don Guardian’s inability to settle the property tax disputes forced the state to intervene.<\/p>\n
Uncertain as to just how much property tax money Atlantic City was going to be forced to return impeded the beachfront gambling town’s financial future, Christie explained.<\/p>\n
\n“The settlements reached with these casinos are the culmination of my administration’s successful efforts to address one of the most significant and vexing challenges that had been facing the city,” Christie said last month.<\/strong><\/p>\n<\/blockquote>\nChiesa has the authority to govern the city’s finances for up to five years. Both the state and Atlantic City government hope the recovery is executed much faster.<\/p>\n","protected":false},"excerpt":{"rendered":"
Atlantic City reached property tax appeal settlements with numerous casinos last month, and the state government says it’s funding the payments through the issuance of municipal bonds. Bally’s, Caesars, Golden Nugget, Harrah’s, Tropicana, and the former Trump Taj Mahal and Trump Plaza all reached tax deals that totaled $68 million, a staggering sum, but also […]<\/p>\n","protected":false},"author":42,"featured_media":59208,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,61],"tags":[],"acf":[],"yoast_head":"\n
Atlantic City Casino Tax Appeal Settlements Covered Through Bonds<\/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