Letter to Editor: 185 New Holmdel Homes Apply for Tax Relief?

Patch Letter to the Editor: Holmdel, NJ - 185 New Holmdel Homes apply for tax relief????

The May 9th Toll Holmdel Urban Renewal, LLC public notice announced the June 9 public hearing for tax abatement on 185 new homes applied for on Holmdel Bell Labs (Alcatel/Lucent) tract. That public hearing has been continued to Tuesday evening, June 21.

• The public notice omitted the developer’s and Township's financial agreement for the public to fairly comment on.
• The 2012 Committee deal with the Somerset redeveloper designated the existing structure in need of redevelopment as eligible for tax relief.
• Toll Holmdel Urban Renewal, LLC has applied for abatements/tax relief on the 185 residences being built on what has been over 400 acres of previous OPEN SPACE .

The Committee extended the continued public hearing on the Toll application for tax relief to June 21st.

The Committee had granted approvals for the PILOT (Payment In Lieu Of Taxes) on Somerset redeveloper's 30-year tax exemption for the Lucent structure. The untouched pristine 400-plus acres do not meet the definition of Urban Renewal or qualify as in need of redevelopment.

Every Holmdel taxpayer, not just neighboring properties and our school campuses near Lucent, are impacted. The difference in taxes Toll would normally pay will be absorbed by the rest of Holmdel’s property owners to pay for increased services.

The Toll application provides 96% of revenues received to go directly to the governing body. The distribution/allocation is at the discretion of sitting Township Committee members. Schools and other community services instead of getting their automatic revenue cut have to ask the Committee for their fair share.

The agenda item for the June 21 public hearing is the Township Committee's pending financial agreement with Toll and is now available through the clerk’s office: [email protected].

If you care about your taxes and town, attend the public hearing and participate June 21st.

Anne Morrison